In Ontario, property division for married couples is governed by the Family Law Act, which requires spouses to “equalize” their net family properties. Upon separation, spouses must disclose their assets and debts as of the date of marriage and separation, and the total value of each spouse's net family property is calculated. The spouse with the higher net family property is typically required to pay the other one half the difference to ensure an equal distribution of assets accumulated during the marriage. Certain assets like inheritances or gifts received from third parties may be excluded from the net family property calculation. You need to understand these rules well to divide assets fairly.