Podcast: Family Law Now

Family Law Now | Ep. 54: Divorce & Property Sharing 101

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Written by Russell Alexander ria@russellalexander.com / (905) 655-6335

Episode 54

Russell Alexander, Bill Rogers, and Rick Peticca will be discuss matters of property division in divorce and family law.

1. The basics
a. How is property defined?
b. What is financial disclosure?
c. What documents should you gather?
d. What is a financial statement?

2. Calculating & sharing family property
a. Date of marriage assets (“DOM”)
b. Date of separation assets (“DOS”)
c. Exclusions
d. Exemptions
e. Personal injury awards
f. Inheritances

3. The home
a. Having more than one matrimonial home.
b. Exclusive Possession of the matrimonial home
c. Not the home on DOM

4. Special Considerations
a. Pensions/survivor benefits
b. Sick days/vacation days
c. Stock options
d. Notional disposition costs
e. Lottery winnings

5. Onus – who bears it, for purposes of determining the value of an asset, liability and proving a deduction and exclusion

6. Equalization
a. The concept & purpose of equalization
b. Net family property statements
c. The “unequal” division – section 5(6) of the FLA

7. Limitation period – section 7(3) of the FLA for an equalization claim

Family Law Now LIVE is a live virtual event series hosted by Russell Alexander and featured guests. They present on various topics surrounding family law to provide helpful information, answer questions, and share insights with the audience in real time. This podcast episode is a recording of a virtual event. Registration is now open to attend upcoming virtual events hosted by Family Law Now LIVE.

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Show Notes

Upcoming LIVE virtual event: Divorce & Property Sharing 201

How to Prepare a Financial Statement

Family Law Act, R.S.O. 1990, c. F.3

Case Law

Are Stocks Viewed as Income or Property in Divorce?

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About the author

Russell Alexander

Russell Alexander is the founder of Russell Alexander Collaborative Family Lawyers and is the firm’s senior partner. At Russell Alexander, our focus is exclusively family law, offering pre-separation legal advice and assisting clients with family related issues, including: custody and access, separation agreements, child and spousal support, division of family property, paternity disputes, and enforcement of court orders. We have locations in Toronto, Markham, Whitby (Brooklin), Oshawa, Concord, Lindsay, and Peterborough.

For more information, visit our website, or you can call us at: 905-655-6335.