Division of property and equalization for married couples

When the end of a relationship arrives for married couples, the division of property and equalization is usually a stumbling block.

Divorce in Burlington, Oakville, Milton and Mississauga falls under Ontario’s family law. You need an experienced and proven family law firm to stand beside you and fight for your fair share.

When a marriage ends, property that was acquired during the marriage and still exists at separation must be divided fairly between the spouses. The payment that may be owed to one of the spouses in order to effect this sharing is called an equalization payment, or an equalization of net family property.

Also, any increase in the value of property needs to be accounted for and must be shared.

The division of property and equalization of any assets for married couples can seem like an intimidating and potentially unpleasant experience. Each side may have an emotion-fueled opinion of what they deserve and what the other party does not.

In some cases, former spouses cannot agree on who should retain, own and live in the family home that was jointly acquired during (or before) the marriage. Having children can complicate this matter further. Ideally the person with custody would retain the family home for the sake of creating the smallest amount of disruption in their children’s lives.

This is why you need to work with professionals—a family law firm that knows property law, and has a history of favourable outcomes for their clients. Our firm can show you exactly what you’re legally entitled to and fight to ensure you receive it.

If you need a family lawyer and want to talk about your property or equalization issues from your marriage, don’t hesitate to contact any of our offices in Burlington, Oakville, Milton and Mississauga.

 

Our Family Law Lawyers

Brenda K. McKnight

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