Glossary
Net Family Property
Net Family Property is what each of you has — assets minus debts — on the separation date, minus what you brought into the marriage.
NFP measures what you built up together as a couple. The formula: (total assets on the date of separation) minus (total debts on the date of separation) minus (the value of assets minus debts on the date of marriage) equals NFP. Each spouse has their own NFP. The spouse with the higher NFP pays the spouse with the lower NFP half the difference — this is the equalization payment. Common exclusions: inheritances and gifts from third parties (if kept separate), personal injury awards, and life insurance proceeds. The matrimonial home is treated specially — it cannot be excluded even if one spouse owned it before the marriage.
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