When you are facing divorce with significant assets at stake, the division of property often feels overwhelming, especially if business interests, investment portfolios, and real estate holdings are involved. It is normal to want to protect your assets, and the law governing property division may surprise you.
At The Riley Divorce & Family Law Firm, we help clients navigate the rules surrounding equitable distribution in Oakville high-asset divorces. Our whole team of divorce lawyers is here to protect your interests and financial future.
In Canada, the term equitable distribution does not appear in the legislation. However, the concept is similar to the equalization of net family property under Ontario’s Family Law Act. Instead of splitting assets 50/50, the law focuses on equalizing the value of each spouse’s net worth during divorce.
To equalize the net worth, each spouse calculates the total value of their assets (minus debts) at the date of separation. Then, each spouse subtracts the assets they brought into the marriage. The spouse with the higher net gain then pays the other the difference to equalize the division. The goal is to ensure a fair financial outcome for both parties.
In high-asset Oakville divorces, equalization can become complex with exceptions and discretionary adjustments that may be necessary. You may need to value:
Our team at The Riley Divorce & Family Law Firm could work with financial experts to ensure accurate valuations before negotiating any settlement for your divorce.
Not all property is subject to equalization during a divorce. Some types of assets may be excluded, including assets that were inherited during the marriage and kept separate. This may also be true if there were assets outlined in a prenuptial or postnuptial agreement.
However, if excluded assets were co-mingled during the marriage, they may lose their exclusion status. For example, if inherited funds were used to buy a family home. This is a common issue in attempting to maintain an equitable distribution in high-asset divorces in Oakville.
At The Riley Divorce & Family Law Firm, we recognize that no two couples are exactly alike. When you work with us, you can expect:
Your divorce should not define your financial future. Our firm in Oakville is here to ensure that your high-net-worth assets are distributed equitably. We understand your contributions need to be accounted for and analyzed according to Ontario’s property division laws.
If you are preparing for divorce, our team of lawyers at The Riley Divorce & Family Law Firm knows how to handle equitable distribution in Oakville high-asset divorces. With multiple lawyers on our team, we have a wealth of experience in divorce law and are available to discuss your concerns 24 hours a day. Call us today to learn more about how the equitable distribution of assets can affect your divorce settlement.
Now you can have your Consultation with Paul Riley any time from the comfort of your own home. With video calls from Zoom, your Team at The Riley Divorce & Family Law Firm can meet with you virtually, and learn about your case. All you need is a smartphone, tablet, laptop, or desktop with a built-in camera and microphone.
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