Marriage Equalization Claims
The Family Law Act (FLA) 's property equalisation process in Ontario is known as a "delayed community-of-property" system. This implies that each spouse instantly acquires a portion of the marriage's wealth when two people decide to be married.
When a marriage ends or one partner passes away, that entitlement to equalisation becomes active. The value of the property acquired during the marriage is then divided in half, with each partner receiving one half of the assets (not one-half of the property). To equalise the worth of each spouse's net family property, the court directs one spouse to make a "equalisation payment" to the other.
Having a Family Lawyer help you navigate this process will reduce the stress caused by disagreements and emotions that become involved.
Contact us today to discuss your marriage equalization.