How To Calculate the Equalization of Property in a Divorce

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Calculating the Equalization of Property in a Divorce:

In Ontario, the Family Law Act uses a formula to determine how much needs to be paid by one spouse to the other so that you and your spouse end up with the same net property upon separation. The formula is illustrated below:

+ Add up your assets on the date of separation

­- Subtract your debts on the date of separation

- Subtract any gifts from third parties, inheritances or proceeds from a personal injury claim received during the marriage which were kept separate and are still in existence on the date of separation

- Subtract your assets less any debt you had on the date of marriage

= The resulting number is called your Net Family Property (NFP). Your spouse does the same calculation. If your Net Family Property number is higher than your spouse's number, you owe half the difference so as to make the NFP's equal.


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