Pets are considered property pursuant to family law in Ontario. As wrong as it may seem for many who consider their pets to be members of the family, the unfortunate reality remains. Pets are not treated as children by the court and the laws and rules regarding custody and access of a child simply do not apply to domestic animals, regardless of how much they are loved and cared for. While acknowledging that:
- pets are of great importance to people;
Not all property is treated equally in family law. Inheritances and gifts from third parties receive special treatment when determining the division of property for married spouses.
The regime governing property division for married couples in Ontario is found in section 1 of the Family Law Act. Equalization is determined by having the spouse with the higher net property (the higher net worth accumulated over the marriage) pay half the difference of the parties’» Read more about: Inheritances and Gifts: How to protect your assets » Read more 3 mins read
One of the big issues that people face when they are getting divorced is dividing the marital property. Some people don’t fully understand what is counted as marital property. They might think that their own pay is their own money; however, if it is pay that you earned while you were married, it is a marital asset. Understanding some basic points about marital assets can help you ensure that you are getting a good settlement when the time comes to divide these assets.Read more 2 mins read