In Ontario, matrimonial assets are divided through equalization of net family property

Under Ontario’s Family Law Act, the division of assets follows the principle of equalization, where both spouses are entitled to an equal share of the value of property acquired during marriage. The process requires careful documentation and often professional guidance.

• Both spouses must complete a detailed financial disclosure listing all assets and debts
• The valuation date is typically the date of separation
• Certain assets like inheritances and gifts may be excluded from division
• The matrimonial home receives special treatment regardless of ownership
• Spouses can negotiate terms through mediation or collaborative law
• A formal separation agreement must be drafted and signed by both parties

For complex asset divisions, it’s advisable to work with a family law lawyer and financial advisor to ensure a fair settlement that complies with Ontario law. The process can be completed through negotiation or, if necessary, through the court system.