Toronto Divorce Lawyers
At RV Law, our clients’ best interests are our primary concern, especially if they are contemplating a divorce. Whether the divorce will be contested or uncontested, clients should consult a lawyer to ensure that they have standing to apply for a divorce from an Ontario Court and that they are aware of the various issues which need to be resolved prior to obtaining a divorce from their spouse. We are here to protect you, your children and your future.
Helping Clients With the Complicated Issues of Property Division
One of the central issues in a divorce action is how property is to be dealt with or divided and specifically, what the equalization payment owing from one spouse to the other will be. There are time limits for pursuing an equalization claim against your spouse and they are two years from the date of the divorce, six years from the date of separation or six months from the date of your spouse’s death, whichever comes first.
Where one spouse has accumulated substantial wealth during the marriage, while the other spouse has not, there will likely be an equalization payment owing from the spouse with the greater net worth to the spouse with the lesser net worth in order to ensure that both spouses come away from their ‘partnership’ on an equal footing.
The process for calculating a spouse’s individual net worth and for determining the value of property which may either be deducted or excluded from the calculation of a spouse’s net worth, is not an easy one. If done improperly, a spouse may not be given credit for the disposition costs associated with the value of their assets and end up paying too much as equalization. Likewise, a spouse may not receive their full entitlement where the other spouse is either hiding or under-valuing assets in the calculation of their net worth. It is worthwhile to have a Toronto divorce lawyer from RV Law on your side to make sure that the process is carried out properly and that you are treated fairly. We can make sure you understand the process and timelines.
We can also help you with any issues related to:
- The possession or disposition of the matrimonial home and its contents
- The appraisal of the matrimonial home as well as any other real estate property owned by you and/or your spouse and third parties
- Any business interests that you or your spouse may have
- Obtaining business and pension valuations
- Obtaining income analyses
- Reviewing and extrapolating income information from Personal and Corporate Income Tax Returns and Assessments
- Reviewing and extrapolating income information from Business Financial Statements and source documents
- Determining net disposition costs for assets
We, together with our team of experts who provide such services as business valuations, are equipped with the knowledge, experience and skills necessary to properly determine the net worth of each spouse so that the equalization payment is a fair one.
Ivana Vaccaro and Khamy Ganeshathasan are two members of our experienced legal team who handle divorce matters. They can help you resolve any issue from reaching a successful separation agreement to litigating any part of a divorce action.
Contact RV Law Today
For more information regarding our family law and divorce services in Toronto, Ontario,
contact RV Law and schedule an initial consultation. Call our office toll free at 416-364-5200.