Category: Divorce In Ontario
Toronto Lawyers Explain How to Protect Your Business in a Divorce
Understanding the Legal Implications
Division of Property and Assets
In Ontario, the Family Law Act dictates the division of property and assets during a divorce. The guiding principle is equitable distribution, meaning both spouses are entitled to a fair share of the marital property accumulated during their union. However, businesses introduce unique considerations:
Sole Proprietorship: If you solely own the business, it is typically considered a marital asset subject to division. However, factors like pre-marital ownership, significant separate contributions, and inheritances can influence the valuation and distribution.
How Long Does It Take To Get A Divorce In Ontario?
Filing for divorce in Ontario is no child’s play – the process involves a lot of paperwork, waiting periods, and court appearances. A common question asked by many people contemplating this move is “How long does it take?” The answer is not an easy one to give, as various aspects come into play, including where the divorce is taking place. This guide provides an overview of the process and its timeline, especially for residents in Ontario.
How To Do Your Own Divorce With Five Simple Steps
