How is the value of assets determined for equalization in Ontario?

Assets are valued at their fair market value on the valuation date — the price a willing buyer would pay a willing seller in an open market. For liquid assets like bank accounts or publicly traded shares, value is straightforward. For less liquid assets, expert appraisals are typically needed.

Real estate is usually valued by a certified real estate appraiser. Businesses are valued by a Chartered Business Valuator. Pensions — especially defined benefit plans — require actuarial calculations. Jewellery, art, or other collectibles may need a specialist appraiser.

Disputes about asset values are common, particularly for businesses and real estate. When spouses cannot agree, they may each retain their own expert, then negotiate or ask a court to choose between valuations. Selecting a single jointly retained appraiser is often faster and cheaper. Whichever approach is used, documenting asset values with contemporaneous records (statements, appraisals dated near the valuation date) avoids later disputes.