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[Music] How is the equalization of property calculated in Ontario upon divorce? Hi, Im Brian Galbraith, Im the owner of Galbraith Family Law Professional Corporation. Were a law firm of divorce lawyers with offices in Barrie, Orillia, and Newmarket. The calculation of an equalization payment is based on a formula. Basically, the formula is this, the assets are calculated for both parties on the date of separation, you subtract from that the debts on the date of separation in each persons name and then you subtract any assets or debts that each person had on the date of marriage because youre sharing the increase in wealth during the course of the marriage. Lastly, exclude any excluded assets such as gifts, or inheritances or proceeds from a personal injury that are still in existence on the date of separation and are in a discrete piece of property or account, so its kept separate. That determines each partys net family property number and then those numbers are equalized by wa
