Toronto Family Lawyer Advising on Financial Considerations of Divorce for High-Income Earners and Spouses
If faced with the difficult process of separation and divorce, high-income earners, entrepreneurs, and professionals who own a business or a professional corporation need legal advice that responds to their needs from a lawyer who understands their wealth planning or business continuity concerns.
At Financial Litigation, we exclusively handle divorce cases on behalf of couples with significant assets, focusing on minimizing their financial exposure and protecting their rights. If you are a doctor, dentist, accountant, lawyer, or other professional who owns their own business, we can provide insightful advice about how divorce may impact you and your assets.
Grounds for Divorce in Ontario
Divorce formally ends a legal marriage. It is granted when a couple has no hope of reconciliation following a breakdown of the marriage. Most couples obtain a divorce on the basis of living separately and apart for at least one year. Other grounds for divorce include adultery and where one spouse has committed mental or physical abuse.
Financial Litigation guides high-income earners through the emotional, complex, and financially risky process of divorce. With our unique focus on the financial elements of divorce, we have experience handling challenging cases involving large numbers of assets, business holdings, and other entities. We also provide clients with comprehensive, personalized advice for related family law matters, including:
- Spousal support;
- Child support;
- Financial considerations for second marriages;
- Financial considerations for business owners and entrepreneurs;
- Valuation of property and other assets; or
- Tracing hidden assets and fraud.
Division of property and spousal support payments following divorce
Ontario’s Family Law Act mandates equal division of all gains made during the marriage. Absent a prenuptial agreement, any increases in value on your mutual financial assets during the marriage will be equalized between both spouses, as will any debts incurred by either spouse.
For high-income earners, divorce is often complicated by assets and income that is difficult to value, including pensions, stock options, bonuses, and profit sharing. At Financial Litigation, we have excellent relationships with experienced, talented forensic accountants, valuation specialists, and other professionals so that we can provide comprehensive legal advice that addresses and mitigates all financial risks of a marriage breakdown. Our team can conduct detailed valuations of property and assets to ensure that all of the financial and tax implications are properly considered.
Thoughtful divorce advice with a focus on financial issues
Financial Litigation‘s family law practice helps high-income clients through the difficult process of divorce. We can advise regarding both contested and uncontested divorces, and provide guidance on complex asset valuation and property division issues. Call 416-769-4107 x1 or contact us online to schedule a consultation.