Property Division and Equalization
Property Division and Equalization
How can I avoid sharing half of my assets during my divorce?
the Family Law Act presumes equalization of net family property. You may exclude certain property, rely on a marriage contract, or argue for unequal division of assets.
Why do I have to divide my assets during divorce?
The Family Law Act requires equalization of net family property to ensure fairness between spouses, reflecting the partnership nature of marriage.
Do I have to include my debts in my Net Family Property Statement?
Yes. All debts existing on the valuation date (date of separation) must be included in your Net Family Property Statement.
Do I have to include my gold in my Net Family Property Statement?
Yes. All assets owned on the valuation date, including gold, must be disclosed and included.
Do I have to include my house in my Net Family Property Statement?
Yes. The matrimonial home is included in the calculation, and its value is not subject to the usual exclusion for pre-marriage property.
