Protecting Your Assets and Interests
In case of separation, property owned at the date of separation must be identified, valued and the value of the property shared with your spouse. This applies to all property acquired during the course of marriage, with certain exceptions including some gifts and inheritances in order to be exploited from the calculations, gifts or inheritances must be traceable to an asset owned on the date of separation. You are entitled to a deduction for the value of assets brought into the marriage, unless the value comprised the matrimonial home. The intent of Ontario law in this regard is to leave each spouse with an equal share assets accumulated during the marriage of, after an "equalization" process that takes into consideration various factors. In marriages of less than five years, other considerations might apply. The equalization and division process can be complex, and you should seek experienced counsel if you are considering separation or divorce. Contact our firm for a free one half hour consultation.
Under Ontario law, different considerations apply in a common-law relationship, as opposed to married couples. In a common-law situation, there is no automatic entitlement to a division of property. Our firm has considerable experience representing people in common law relationships, as well as married couples.
Etobicoke Property Division Lawyers
Levitt, Lightman, Dewar & Graham, LLP has been representing clients in divorce and family law matters for more than three decades. Our lawyers have extensive experience in the division of assets during divorce or separation, ranging from clients with modest estates to those with substantial asset holdings.
Using our expertise, and when needed, the expertise of outside financial specialists, we will work diligently to obtain the most advantageous property settlement possible. We will pay particular attention to the tax implications of the proposed settlement, in order to retain as much value for your assets as we can. The property settlement you receive upon your separation will form the cornerstone of your finances for some time to come. To protect your rights and interests, turn to Levitt, Lightman, Dewar & Graham, LLP.
Contact our firm for a free one half hour consultation with a GTA marital asset lawyer.
