.quickedit{display:none;}

Tuesday, February 16, 2016

"Why does it matter what I had when we married?" - BlogBite

BlogBite (12)

Question: "I was married and I am now separated. Someone told me that it is important for me to show what I had when I married my wife. Why does this matter?"

Answer: Ontario's Family Law Act provides a mechanism for the sharing, on separation, of the spouses' assets and debts, by value. The Act contemplates the sharing by the spouses of the increase in their net worths (based on a formula) between the date of marriage and the date of separation. In other words, a separated spouse gets credit for the value of their assets (less liabilities) at marriage. This is why it's important for you to establish that value.

Do you have any further questions? Give us a call....

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

LinkWithin

Related Posts with Thumbnails