Property Division After Marriage
Dawn S. • March 16, 2022
We Can Assist With All Of Your Separation Needs
The decision has been made to end your marriage. The eyes of the law states that a marriage is actually an equal partnership, so in actual fact, any property needs to be divided fairly because the partnership has ended. The general rule of thumb is that the property, also known as assets, is divided 50/50. Assets you brought in to the marriage are yours, however if they have increased in value the difference (profit) must be shared 50/50. This is when things get confusing and enlisting the help of Angela Grant Lee Law would be very beneficial.
Property is basically everything owned by you and /or your spouse at separation. Generally, these are the assets that need to be divided:
- The family home (see below)
- RRSPs
- Investments
- Insurance policies
- Pensions
- Businesses
It doesn’t matter whose name is on any of these…they are all considered family property.
Of course, like most matters, there are exceptions. They are:
- Gifts received during the marriage from someone other than your spouse.
- Inherited property.
- Money received from an insurance company.
The family home is a different matter and can be confusing when dividing property. Chances are you will need legal advice from Angela Grant Lee Law.
Some marriages have been known to dissolve amicably without the need for lawyers, but a conversation or two about the property needs to take place and agreed upon and added in to the Separation Agreement. Each situation is different and your lawyer knows this and will make sure your financials are in your best interests. The division of property can be polarizing and really hinder the separation process. Most of the time, calculations of the property’s worth should take place. This could include each spouse’s net worth at separation. Your lawyer will gather all the related information to aid in the drawing up of a fair Separation Agreement. If the parties can’t come to an agreed upon division of assets, their lawyers may have to present their cases to a Judge at Family Court.
Your Burlington lawyer will help you avoid that trip but if the need for Family Court is necessary, rest assured, they will be there for you. Yes, dividing up property can be stressful and cause emotions to run high and that’s exactly the reason for a lawyer. Let them guide and support you through this time. Grant-Lee Law will take care of the legalities within your financial means. However, you need to take care of yourself and your child once the separation is decided upon using a co-parenting arrangement that will work.
Angela Grant-Lee and her team will strive to help you find a solution to your financial needs. Reach out to the team online at www.grantleelaw.ca or give them a call at (905) 315-6837. Angela Grant-Lee has a lot of Family Law experience so that you can focus on other matters, like your well-being, like your well-being.
Angela Grant Lee Law’s family lawyers and staff is here to help you
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The holiday season often brings a whirlwind of excitement, family gatherings, and cherished traditions. For co-parents, it can also introduce a unique set of challenges. One of the most common sources of stress is gift-giving. Coordinating with your former spouse about Christmas gifts for your children is not just a good idea—it's a crucial step toward creating a peaceful and joyful holiday experience for everyone involved. This guide will walk you through the key benefits of discussing gifts with your co-parent. You will learn how this simple act of communication can help avoid common pitfalls, set a positive example for your children, and reduce holiday stress. By working together, you can ensure the focus remains on what truly matters: your child's happiness. Why Communication is the Greatest Gift While you are no longer a couple, you remain a parenting team. Approaching the holidays with a collaborative mindset demonstrates respect and unity, which benefits your child immensely. A short conversation about presents can prevent misunderstandings and ensure the holidays are memorable for all the right reasons. Let's explore the practical advantages of this approach. Avoid the Duplication Trap Imagine the look on your child's face when they unwrap the exact same video game or doll at both houses. While it may seem like a minor issue, duplicate gifts can create confusion and subtly send the message that their parents are not communicating. It also means your money and effort could have been better spent on providing a wider variety of presents. By simply sharing your gift ideas, you can avoid this scenario. A quick text, email, or phone call to check in before you start shopping ensures your child receives a diverse range of items they will love. This doesn't mean you need to plan every single gift together, but coordinating on the "big ticket" items can make a significant difference. A shared digital wishlist or a simple running list can be an effective tool to keep track of what has been purchased. The Importance of Setting a Spending Limit Finances are often a sensitive topic, and this can be amplified during the holidays. When one parent significantly outspends the other, it can lead to feelings of inadequacy, competition, or resentment. This financial pressure is unhealthy for the co-parenting relationship and can inadvertently make the child feel caught in the middle. Agreeing on a reasonable spending limit helps level the playing field. It ensures that neither parent feels pressured to overspend to "keep up." This conversation isn't about rigid accounting but about creating a sense of fairness and shared responsibility. It also teaches your child a valuable lesson: the spirit of giving is not measured by price tags. When children see their parents aligned on financial matters, it reinforces stability and shows them that thoughtful giving is more important than extravagant spending. Promote a United Front of Teamwork Children thrive on consistency and security. Seeing their parents work together as a team, even after a separation, is a powerful and reassuring message. Collaborating on holiday gifts shows your child that their well-being is your top priority. It models effective communication and problem-solving, skills that will serve them well throughout their lives. This teamwork extends beyond just avoiding duplicate gifts. You might decide to pool your resources for one larger, more significant present that neither of you could manage alone. This act of partnership can be incredibly meaningful for a child, reinforcing the idea that they are loved and supported by a united front. Remember, your child’s emotional security is deeply connected to the health of your co-parenting relationship. A collaborative approach to the holidays strengthens that foundation. Reduce Holiday Stress for Everyone The holiday season is already packed with to-do lists, events, and expectations. Adding conflict with your co-parent to the mix only creates unnecessary stress for you and your child. Proactive communication about gifts eliminates last-minute surprises, arguments over spending, and the tension that comes from uncertainty. When you have a plan, you can relax and enjoy the season. You won't have to worry if your gift will be overshadowed or if a misunderstanding will lead to an argument on Christmas morning. This peace of mind is invaluable. By addressing potential issues ahead of time, you free up emotional energy to focus on creating positive memories with your child. A stress-free parent contributes to a stress-free holiday atmosphere, which is the best gift you can give your family. When Communication Breaks Down Ideally, every co-parenting conversation would be smooth and productive. However, reality can be more complicated. If discussing holiday arrangements, gifts, or other co-parenting matters consistently leads to conflict, it may be time to seek professional guidance. Disagreements over finances, parenting time during the holidays, or general communication can become overwhelming. If you find yourself unable to reach an agreement, help is available. Angela at Grant Lee Law specializes in family law and is experienced in helping parents navigate the complexities of co-parenting. She can provide mediation services or legal advice to help you find common ground and establish clear, effective strategies for handling the holidays and beyond. Reaching out for support is a sign of strength and a commitment to your child's well-being. Create a Harmonious Holiday Season Coordinating Christmas gifts with your former spouse is a small effort that yields significant rewards. It helps you avoid duplicates, manage finances fairly, present a united front, and reduce overall holiday stress. By prioritizing open communication and collaboration, you set a powerful example for your child about respect, teamwork, and the true spirit of the season. Your goal is to create a loving and stable environment for your child, and that doesn't stop during the holidays. A little planning goes a long way in ensuring the season is filled with joy, not tension. Remember to approach the conversation with a positive and practical mindset, always keeping your child's happiness as the central focus.
Mediation can be a constructive path forward when navigating a divorce or custody case. It offers a private, less adversarial setting to resolve disputes compared to a traditional court battle. However, walking into mediation unprepared can lead to frustration, stalled progress, and an unfavorable outcome. Treating it as a formal and significant step in your legal journey is the key to success. This guide will walk you through how to prepare effectively for your mediation session. We will cover the essential documents you need, how to define your goals, and the mindset required for a productive conversation. Why Preparation is Your Greatest Asset Many people mistakenly believe they can simply show up and talk things through. This approach rarely works. Mediation is a structured negotiation, and the person who is better prepared often has a distinct advantage. Being prepared accomplishes several things: ● It builds confidence: Knowing your facts, figures, and priorities reduces anxiety and helps you communicate clearly. ● It saves time and money: When both parties are organized, the mediator can focus on finding solutions instead of spending billable hours sorting through disorganized information. ● It demonstrates seriousness: A well-prepared party shows the mediator and the opposing side that they are invested in reaching a fair agreement. ● It protects your interests: Preparation ensures you don’t forget a crucial asset, overlook a potential debt, or agree to a parenting plan that isn’t feasible. Step 1: Gather Your Essential Documents Your arguments and proposals must be backed by evidence. Start collecting and organizing your financial and personal documents well before the mediation date. Having these papers on hand allows you to answer questions accurately and support your position with facts, not just feelings. Financial Documentation Create a comprehensive file of your financial life. This should include: ● Proof of Income: Recent pay stubs, W-2s, or 1099s for the last two to three years. If you are self-employed, gather your business profit and loss statements. ● Tax Returns: At least three years of personal and business tax returns. ● Bank Statements: Statements for all checking and savings accounts for the past year. ● Retirement and Investment Accounts: Recent statements for 401(k)s, IRAs, pensions, and brokerage accounts. ● Property Information: Deeds, mortgage statements, and property tax bills for any real estate. Include recent appraisals if available. ● Debt Statements: Documents for credit cards, car loans, student loans, and any other personal or joint debts. ● Major Asset Valuations: Appraisals or estimates for valuable items like art, jewelry, or collectibles. Custody-Related Documentation If child custody is part of your mediation, gather information related to your children's lives. ● Children’s Schedules: School, extracurricular activities, and regular appointments. ● Child-Related Expenses: A detailed list of costs for childcare, health insurance, school tuition, sports, and other activities. ● Communication Records: Relevant emails or text messages that illustrate co-parenting successes or challenges. ● Proposed Parenting Plan: A written outline of your ideal custody schedule, including holidays and vacations. Step 2: Define Your Priorities and Goals You cannot get what you want if you do not know what it is. Before mediation, take time for honest self-reflection. What are your absolute must-haves, and where are you willing to be flexible? Create a "Best, Acceptable, and Worst" Case Scenario List Think about each major issue—asset division, alimony, child support, parenting time—and outline three potential outcomes: ● Best Case: Your ideal, most desired outcome. ● Acceptable Case: A compromise you can live with, even if it's not perfect. ● Worst Case: Your absolute bottom line, the point beyond which you would rather go to court. This exercise helps you identify your non-negotiables and areas where you can compromise. It transforms a vague sense of want into a concrete negotiation strategy. For example, staying in the marital home might be your "best case," but an "acceptable case" might be receiving a larger share of retirement assets to secure new housing. Step 3: Adopt the Right Mindset Your attitude is just as important as your paperwork. Mediation is not about winning or losing; it is about finding a mutually agreeable solution. Be Open to Compromise Both parties will need to give something up to reach a resolution. If you enter the room with a winner-take-all mentality, you are setting the stage for failure. Focus on finding common ground and creative solutions that address both your needs and the other party's needs. Manage Your Emotions Divorce and custody discussions are emotionally charged. While your feelings are valid, letting anger or resentment drive your decisions will sabotage the process. Practice staying calm and focus on the facts. If you feel overwhelmed, it is okay to ask the mediator for a short break to collect yourself. Listen Actively Pay attention to what the other party is saying. You might hear an underlying interest or a new idea that opens the door to a solution you hadn't considered. Listening does not mean you agree, but it shows respect and fosters a more cooperative atmosphere. Seek Professional Guidance Navigating mediation alone can be daunting. Having an experienced family law attorney on your side provides invaluable support. An attorney can help you understand your legal rights, prepare your financial disclosures, and develop a sound negotiation strategy. For those in our community, Janet Grant-Lee at Grant Lee Law is a trusted resource who specializes in helping clients prepare for and navigate the mediation process. An attorney can advise you on what constitutes a fair settlement and ensure the final agreement is legally sound and protects your future. Set Yourself Up for Success Mediation offers a powerful opportunity to shape your future on your own terms. By investing time in thorough preparation—gathering documents, clarifying your priorities, and adopting a cooperative mindset—you significantly increase your chances of reaching a durable and fair agreement. This preparation empowers you to negotiate from a position of strength and clarity, turning a challenging process into a constructive step toward your new beginning.
