Upon separation, married spouses are entitled to an equalization of their net family property. This means that they are entitled, not to the division of the property itself, but to the equalization of the value of the property. The process involves the application of a specific calculation which is set out in detail in the Family Law Act known as the equalization of net family property.
Equalization of net family property results in one spouse (the one with the greater net family property) owing the other spouse a debt (equalization payment). It’s important to note that an equalization payment may amount to more or less than half of the other spouse’s total assets.
When calculating net family property, the value of all types of ‘property’ is included in the calculation: land, buildings, bank accounts, businesses, stock, stock options, pensions’ accounts receivable etc.
Application of the principles governing equalization of net family property can be complex, and subject to many variables which can have a significant impact on the bottom line. When it comes to property division, it pays to consult a lawyer and Kain & Ball is the logical choice based on our extensive experience.
Unlike married spouses, unmarried spouses do not have the automatic right to equalization of net family property under the Family Law Act. This is not to say, however that unmarried spouses do not have any property rights. The extent to which persons who are not married may assert a claim against each other with respect to property varies widely depending on the circumstances relating to their relationship and the property in question. At Kain & Ball, we have dealt with numerous cases involving the property rights of unmarried spouses. Our legal team is familiar with the complex issues that arise in these kinds of cases, and we are ready to assist you.
To book a free initial consultation with one of our experienced family law lawyers contact us at 1-855-773-4588 or e-mail us at contact@kainfamilylaw.com.
I was very pleased to find this web-site.I wanted to thanks for your time for this wonderful read!! I definitely enjoying every little bit of it and I have you bookmarked to check out new stuff you blog post.
This web site is really a walk-through for all of the info you wanted about this and didn?t know who to ask. Glimpse here, and you?ll definitely discover it.
very nice post, i certainly love this website, keep on it
you have a great blog here! would you like to make some invite posts on my blog?
WONDERFUL Post.thanks for share..more wait .. 😉 ?
An impressive share, I just given this onto a colleague who was doing a little analysis on this. And he in fact bought me breakfast because I found it for him.. smile. So let me reword that: Thnx for the treat! But yeah Thnkx for spending the time to discuss this, I feel strongly about it and love reading more on this topic. If possible, as you become expertise, would you mind updating your blog with more details? It is highly helpful for me. Big thumb up for this blog post!
This really answered my problem, thank you!
After study a few of the blog posts on your website now, and I truly like your way of blogging. I bookmarked it to my bookmark website list and will be checking back soon. Pls check out my web site as well and let me know what you think.
I?d should check with you here. Which is not something I normally do! I enjoy reading a post that may make people think. Also, thanks for allowing me to remark!
I have read some good stuff here. Definitely worth bookmarking for revisiting. I wonder how much effort you put to create such a wonderful informative website.
Nice post. I was checking constantly this blog and I am impressed! Very useful information specifically the last part 🙂 I care for such information much. I was looking for this certain info for a long time. Thank you and good luck.
It?s exhausting to find educated people on this topic, but you sound like you understand what you?re speaking about! Thanks
I?ll immediately grab your rss as I can’t find your e-mail subscription link or e-newsletter service. Do you’ve any? Kindly let me know in order that I could subscribe. Thanks.
I have recently started a blog, the info you provide on this site has helped me greatly. Thank you for all of your time & work.
Helpful info. Lucky me I discovered your site by chance, and I am shocked why this accident didn’t came about earlier! I bookmarked it.
It?s in reality a great and useful piece of information. I?m glad that you shared this useful information with us. Please stay us informed like this. Thank you for sharing.
Thanks for another excellent post. Where else could anybody get that kind of info in such an ideal way of writing? I’ve a presentation next week, and I’m on the look for such information.
We are a group of volunteers and starting a new scheme in our community. Your site offered us with valuable info to work on. You’ve done an impressive job and our whole community will be thankful to you.
I have read a few excellent stuff here. Certainly price bookmarking for revisiting. I surprise how much effort you set to make this kind of great informative website.
Hey There. I found your blog using msn. This is a very well written article. I will be sure to bookmark it and return to read more of your useful information. Thanks for the post. I will definitely return.
I’m extremely impressed with your writing skills and also with the layout on your blog. Is this a paid theme or did you modify it yourself? Either way keep up the excellent quality writing, it?s rare to see a great blog like this one nowadays..