The answer to this question depends on whether you are married or common law spouses. Married spouses have different rights than common law spouses. Married spouses who separate have an equal right to stay in what is referred to as “the matrimonial home”. This is the home and you and your spouse reside in before the date of separation. Unlike married spouses, common law partners do not have a legally recognized matrimonial home.
As both married spouses have an equal right to the matrimonial home, even if your partner is the... MORE »
In short, yes. If you and your spouse disagree on how your property were divided, you may need to ask the court to assist in solving your dispute. However, you must ask the court to intervene within a certain amount of time after your date of separation. The time limit for an equalization payment is 2 years after you divorce, or 6 years after you and your partner separate.
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Yes. Here is a quick outline of commonly exempted assets:
- If you have received any inheritance or gifts during the course of your marriage, and they have not been spent or allocated to any shared assets, the amount received or left over is exempt.
- If you owned any assets prior to the date of your marriage, their value will be exempt.
- If you have a marriage contract that outlined specific assets as exempt, they will likely be exempt.
- If you have received any payouts for personal injury or pain and suffering, they will likely... MORE »
Canadian law outlines that couples that are married are required to equally share the wealth accumulated during a marriage, based on the date of separation. However, the equalization of net family property takes into account the assets owned by each partner at the time of the marriage and the end of the marriage. One of the parties may be entitled to more or less of the property based on this process.
So, as with many issues in family law – the answer to this question is not simple. It depends on... MORE »
As with many things in family law the answer is – it depends. If your goal is to receive a quick amicable divorce then splitting everything equally might very well be your best bet. However, if your goal is to enforce your rights according to the law, or to come out of the relationship with as much property as possible, then you may want to hire a lawyer and take a more measured approach to your divorce.
Although most wealth that is accumulated during a marriage is by law split equally... MORE »