Property Division Lawyer

Dividing property at the end of a relationship can be confusing, frustrating and stressful. Particularly if there are complex assets, most couples appreciate the help of experienced professionals to make the process go smoothly and end fairly.

The process of dividing property is different for married and common-law spouses. If you are married, the basic principle is that spouses should evenly split any property that was acquired during the marriage, no matter who legally owns it. For common-law spouses, the situation may be more complex. For both, there may be exceptions that can complicate the process.

 

DIVIDING YOUR ASSETS

Our Toronto property division lawyers will help you determine what property was brought in to the relationship by each partner, what was gained or lost during the relationship, and how to set a fair value on assets. We will also help you determine who will keep larger assets, which assets will have to be sold, and find a fair equalization payment.

Various factors that can influence property division:

  • Marital status: If you were common-law spouses, there is no assumption that both spouses should share equally in whatever was gained during the relationship. However, if you contributed to a major asset that does not legally belong to you (for example, the home in which you lived), you can be compensated, if you can show that not compensating you would be unfair.
  • The marital home: This asset is not treated the same as other property. Our lawyers can explain to you why it is considered unique, and what that may mean for your situation.
  • Exceptions: Some assets, such as gifts and inheritances, are not considered part of the common property. This can sometimes complicate property division if, for example, a cottage was bought with the proceeds of an inheritance.
  • Valuation: The equation to split property is simple, but the value of the property involved may consume a great deal of litigation, especially for large assets such as real estate, vehicles or business interests.
  • Related issues: Custody and spousal support may influence who gets to keep certain assets.

At MacDonald & Partners LLP, we have decades of combined experience sorting through these complex issues. Let us use that experience to your benefit.

 

CONTACT MACDONALD & PARTNERS LLP

Call us at 416-971-4802 or send us an email to set up an appointment in our downtown or North York office. Let us help you resolve issues of property division fairly and finally.