The law sees marriage as an economic partnership where each spouse contributes equally to the relationship, whether financial or otherwise. As such, each spouse is entitled to equal share of the total property when the marriage ends. Property includes assets and debts such as houses, cottages, vehicles, savings, family businesses, shares, investments, pensions, mortgages, credit cards, loans, leases etc. To determine the amount, each spouse must provide financial disclosure and calculate the Net Family Property. Depending on the circumstances, other financial claims such as child support and spousal support can also be added to the proceeding.
- Child Support – The money one parent pays or receives to help cover the costs of raising a child.
- Spousal Support – The money one spouse pays or receive to cover ongoing living expenses.
- Property Division – The assets and debts that need to be divided equally between both spouses.
- Disclosure – Getting financial disclosure in a timely manner while ensuring the income, expenses, assets, and debts are accurate in the financial statements.
- Businesses – Working with financial experts to obtain business valuation reports and establish the correct value of the family business.
- Support – Determining the appropriate amounts for child and spousal support.
- Exclusion – Excluding certain property from the Net Family Property calculations, such as inheritances, gifts, life insurance, legal claims.
- Variations – Changing existing court orders or agreements.
How We Help
We can recommend the most appropriate legal method for your unique situation and represent you during the entire legal process. Family law is complex and hiring one of our family lawyers can help avoid costly errors while increasing your chance of success with your case.