Property Division

Upon separation, both parties need to determine all property, including but not limited to assets, and liabilities they accumulated during their relationship. Think your matrimonial home, vacation home, car, bank accounts, etc. 

The division of assets and property can be complicated and confusing. Furthermore, married spouses have different property rights under the law than common-law spouses.

Married couples are entitled to a legislated property division regime, known as “Equalization”, which is set out in the Family Law Act. The equalization process begins with each spouse calculating their respective “net family property” by totalling the value of their debts, assets, and liabilities as of the date of marriage. This number is then subtracted from the total of their debts, assets, and liabilities as of the date of separation. This process results in one spouse (with the higher net family property) owing the other spouse an equalization payment.

When calculating your net family property, the value of all types of property include but are not limited to property in and outside Ontario, stocks, pensions, land , buildings and bank accounts. There is an exception to this rule, which must be accounted for: "Excluded property” refers to gifts or inheritances received during the marriage from someone other than a spouse.

Common law spouses do not have an automatic right to equalization of net family property under the Family Law Act. Upon separation, common law spouses keep whatever assets are in their sole name. Jointly held assets, however, are usually divided equally between them. Alternatively, where one spouse holds sold title to a significant asset to which the non-title holding spouse made significant contributions (financially or otherwise), the non-title holding spouse may have a beneficial interest in that property and a right to share in its value. In order to obtain such an interest, the non-title holding spouse would have to bring a claim for either a resulting trust, constructive trust, or other equitable interest over that property.

The team at Horra Family Law understands the complexities of property issues in separation and divorce. We can ensure that your property rights to separation are recognized and protected.

If you would like to speak with one of our lawyers regarding a property issue in your family law matter, please contact us at (416) 840-1475 or schedule your free initial consultation here.

 

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💫The only way to move forward is to choose to put yourself first, live a life that you love and let go of the things that don't bring you joy. You may never have closure, however you can have healing and move on.





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Mid-week/mid-day selfie break!

Happy Wednesday!




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✨FaceTime Access ✨

With the progression of technology, virtual access has provided new means of maximizing contact between parents and their children.

Programs such as Skype, Zoom and Facetime have allowed their users to view each other while having a conversation.

When a virtual access schedule is implement, the details depends on each case such as length and time of the call and the child’s age. Virtual access is not a substitute to physical visits. A young child may not have the attention span to have meaningful virtual access as opposed to an older child who is use to technology and has the capacity. Virtual access can offer parties an additional method of exercising access during the week where physical access may be impossible or the distance between the children and parents is far. It also allows the children and parents to see each other as opposed to speaking on the telephone.





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Happy Monday!! Let’s do this!





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#thursdaythoughts





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COVID-19 has caused unprecedented disruption to education. During this time, teachers have gone to incredible lengths to help their students keep learning.

Today is the start of in person school for many children. To every teacher, we have two words for you: Thank you!

All the children benefit from their teachers superpowers every year!

We hope all the teachers, teaching staff, and children have a great school year! ❤️




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Back to school. Parents may both cheer and dread these three words. Some feel hopeful about new beginnings, friendships, and learning. Others are anxious about the new rules pertaining to in person school. Add news reports of increasing COVID cases and we can all easily slip into feelings of uncertainty, anxiety, and even fear. 

As much as we may want to wrap children in a protective bubble that prevents them from germs, learning how to navigate the real world is part of growing up to be strong. Talk with children about the the following points listed below which your children can do so they can stay safe and healthy.

▪️Hand Washing

▪️Physical Distancing

▪️Face Masks

Anticipate Some Anxiety and Nerves- Being around people again and having a more structured schedule may increase anxiety, especially for children worried about getting sick. Being able to anticipate them can make it easier to develop ways to help children cope with any anxieties that may arise. Practicing reframing negative thoughts as more positive ones can be helpful to do in advance.

Returning to in-person school is a big transition, and just as it took a while to figure out remote work and learning, it will take a while to acclimate to in-person school and the way of life surrounding it.





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Enjoying the last few weeks of outdoor workouts! We hope everyone has a great long weekend!

Thanks @fabramzanfit @ajfitnow for a great workout!!!





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