Every situation is different. Often, people will refer “giving them one half of everything” when discussing the concept equalization of net family property. This is an overly simplified reference and often not accurate. There are some very basic and important points to remember in dealing with the division of property: 1. Equalization of property only applies to legally married spouses and not to common law spouses; 2. A careful inventory of the value of the couple’s assets and debts as of certain dates must be done to calculate the equalization payment. This calculation considers the value of the assets the spouses have accumulated during the marriage, what they brought into the marriage, gifts received by each of them during the marriage from third parties, and other excluded assets. A mistake on any one number in this calculation can be very costly. The lawyers at Bortolussi Family Law are skilled at ensuring their clients receive what is rightfully theirs. If you have concerns about giving your assets, including your business or pension away during separation and divorce proceedings, contact us to set up a consultation with one of our lawyers.