Toronto Family Lawyers Focused on Financial Valuation of Property and Assets
For individuals with significant assets or high income, family law disputes are inherently complex. The true value of income and other assets is the basis for calculation of these payments and obligations in most family law matters, from equalization upon divorce, to spousal support and child support, This means it is crucial to ensure that assets are properly valued.
At Financial Litigation, we focus specifically on the financial aspects of family law. We have experience handling the complicated elements of high-income families, including valuing corporate ownership, offshore assets, and real property. With our niche skill set, our clients can be confident that their financial well-being is protected.
Valuation of assets prior to co-habitation or marriage
Before getting married, or when they move in together, many couples will enter into a co-habitation or prenuptial agreement. This is a contract that sets out their relative financial rights and obligations, and what will happen in the event that the relationship ends.
At this stage, both parties are required to fully disclose their financial circumstances. Accurate and complete valuation of all debts, assets, and other obligations is essential to drafting an agreement that fairly reflects the rights of each spouse.
Assessing the value of marital assets upon separation or divorce
Following the breakdown of a marriage, each spouse is entitled to half of any value accumulated by both parties during the marriage. Where business owners and other high-income individuals are involved, this can be extensively complicated, as stock options, bonuses, real estate, and capital losses can all make it difficult to make a concrete assessment of value.
Without a fair and accurate evaluation of marital assets, one spouse may not receive the right equalization payment, or may end up paying a higher amount than is fair. Financial Litigation‘s unique focus on complex financial matters has allowed us to develop close relationships with expert financial valuators and forensic accountants. Our lawyers will ensure that assets are properly valued, and any debts and other obligations are correctly identified and reflected in any legal proceedings.
Astute family law advice with a focus on your financial well-being
When it comes to family law matters, having marital assets properly valued can make a big difference in your rights, your wealth and business succession planning, and on any support payments you may be obligated to pay in the event of a breakdown of a relationship. To protect yourself and your assets, choose a lawyer that focuses exclusively on assisting high-income and other high net worth clients to plan for the future. To schedule a consultation, contact us online or call 416-769-4107 x1.