After parties separate, married spouses must deal with the issue of equalizing their net family property.
It is highly recommended that parties complete a sworn Financial Statement and from this Financial Statement, their assets and debts, both at the date of separation and at the date of marriage are combined into a Net Family Property Statement which sets out the entitlement a party may have to an equalization payment from their spouse.
The governing principals associated with equalizing the parties net family property can be difficult and complex and the final equalization can be extremely variable and have a massive impact on an individual's financial security in the future if it is not done properly.
