Under the Family Law Act, on a breakdown of marriage, the cumulative net worth acquired during the marriage must be equalized as between the spouses. The process of equalizing of the parties' net family property is meant to ensure that spouses are fairly compensated for their contributions to the marriage regardless of legal ownership. If one spouse has accumulated more net family property during the marriage than the other, then that spouse will owe an "equalization payment" to the other to compensate.

Determining the values of assets and liabilities as at the date of marriage and as at the date of separation, which is the date when one or both partners decide to end the marriage or relationship, is the starting point. Other considerations relate to the source of certain assets received during marriage, as being gifts from third parties, inheritances, certain lawsuit proceeds, and insurance proceeds, which assets may be considered differently in the equalization process. Common law and married spouses may also have trust claims against each other in addition to the equalization of net family property.

Financial situations can become more complicated when a couple’s financial portfolio includes complex assets, such as investment properties, pensions, retirement accounts, stock options, trust interests, corporate assets and other more complicated financial assets. We understand what information is needed to value these assets and the particular tax considerations that accompany such assets.