What date is used to value property for equalization in Ontario?

Under the Family Law Act, the valuation date is generally the earliest of: the date the spouses separated with no reasonable prospect of resuming cohabitation, the date a divorce is granted, the date the marriage is declared a nullity, the date one spouse dies, or the date one spouse starts a court application.

In most straightforward separations the valuation date is simply the day the spouses separated. All assets and debts are valued as of that date when calculating each person's net family property.

The valuation date can have a big financial impact — asset values like a business, investment portfolio, or real estate can change significantly between separation and when the case is eventually resolved. If parties disagree on the valuation date, a court will decide. Keeping financial records around the time of separation — bank statements, property appraisals, pension statements — makes valuation much easier later.