The common rule is that property is divided equally (i.e. 50/50) between spouses at separation or divorce. However, when it is significantly unfair, the court may depart from equal division and order reapportionment in favour of one spouse. The value of the property is determined at the time of trial. However, the parties may agree to a different valuation date or the court may order a different valuation date. You can divide your property either through negotiation, mediation, arbitration, or court order. Negotiation and mediation are cheaper alternatives to court or arbitration, if you are successful at reaching a settlement. To be able to negotiate or mediate effectively, you will need full financial disclosure. If you have started your case in the Supreme Court, you can force meditation by serving a notice to mediate. If you are considering arbitration, keep in mind that both parties need to consent to the process. Most often parties do try to settle their case before resorting to the court for a determination on property and debt division. To give effect to property division: One party may purchase and payout the other spouse for his or her interests in the assets The property may be listed for sale with either both parties or one of the parties having conduct of sale. The net sales proceeds would then be divided between the parties If you are dividing RRSPs,  you can do it by way of tax free rollover If businesses are at stake, you have several ways that you can divide the business: buyout the party’s interests, sell the business, one party can become a silent partner, or you can have two different companies and each of you would operate one company. You want to make sure that you are dividing your business in the most tax effective manner. We have a team of accountants that we work with closely for dividing complex corporate assets. Book your initial consult with us today to learn how we can help you with divide your family property and debt. Our divorce lawyers will explore various avenues available to you and will tailor a strategy that best suits your unique circumstances.