- Property is defined broadly enough to capture assets such as unvested stock options, investments and crypto-assets.
- Values are fixed as of close of business on the valuation date, and the spouse claiming a deduction or exclusion must prove it.
- A party making a property claim must serve a financial statement in Form 13.1 and keep their disclosure correct.
If you or your spouse hold cryptocurrency, stock options or an investment account, you may wonder whether they count when you separate, what they are worth, and how they must be revealed. These assets are common, but they raise real questions about timing and value.
This article explains how married spouses in Ontario treat these assets in equalization, and why valuation usually depends on the facts of each case.
These assets count as property
Net family property starts with the value of all property a spouse owns on the valuation date, less excluded property, debts and the net value of property owned on the date of marriage. Property is defined broadly as any interest, present or future, vested or contingent, in real or personal property. That wording can capture unvested stock options, investments and crypto-assets.
Pension rights are treated specially. For pensions, property includes the imputed value, for family law purposes, of the spouse's interest in the plan for the period from the date of marriage to the valuation date.
The date that matters
The valuation date is the earliest of several dates, including separation with no reasonable prospect of resuming cohabitation, the date a divorce is granted, and the day before a spouse dies. Values are calculated as of close of business on the valuation date or the date of marriage.
This matters for volatile assets. A coin or share price can move a great deal in a short time, so the price on the valuation date, not today's price, is the starting point. Only growth in value during the marriage is shared, because a spouse deducts the net value of property owned on the date of marriage. Anyone claiming that deduction or an exclusion has to prove it. For crypto, that means keeping records of when it was bought and what it was worth.
What may be excluded, and what reduces the total
- Property other than a matrimonial home that a spouse received by gift or inheritance from a third person after the date of marriage is excluded.
- Income from gifted or inherited property is excluded only if the donor or testator expressly said so.
- Damages for personal injuries, life insurance proceeds payable on death, property traced from these, property excluded by a domestic contract and unadjusted pensionable earnings under the Canada Pension Plan are also excluded.
- Debts and liabilities on the valuation date, such as lines of credit, loans and mortgages, are deducted, including borrowing used to buy investments.
- If a spouse's net family property is below zero, it is treated as zero.
How these assets are valued and disclosed
The Family Law Act does not set out a special valuation method for crypto-assets or stock options. How they are valued, including whether to account for tax on a sale and how to treat options that have not vested, comes from court decisions and expert evidence, and it varies from case to case. Expect that a valuator may be needed for complex holdings, and that the two spouses may disagree about the figure.
Disclosure is where many disputes start. A party making a property claim must serve and file a financial statement in Form 13.1. For a Part I Family Law Act property claim, listed documents must be served no later than 30 days after the financial statement is due, including the statement issued closest to the valuation date for each account at a financial institution. Before a settlement conference or trial, each party must also serve and file a net family property statement in Form 13B. A party must correct or update served documents once they find them to be incorrect.
| Asset | Why it may count | What to gather |
|---|---|---|
| Crypto-assets | Within the broad definition of property | Exchange and wallet records showing balances on the valuation date and the date of marriage |
| Stock options | Contingent or future interests are included | Option agreements, vesting schedules and grant dates |
| Investment accounts | Property owned on the valuation date | Statements closest to the valuation date |
| Pensions | Imputed value from marriage to valuation date | Plan statements and any valuation reports |
What to do next
- Work out your valuation date, with a lawyer's help if the date of separation is disputed
- Download transaction histories and statements for every account and wallet, including closed ones
- Collect records showing what each asset was worth on the date of marriage, if it was owned then
- List all debts on the valuation date
- Keep copies of anything you disclose, and correct mistakes promptly
- Ask a lawyer whether a valuation expert is needed for options or crypto
An accountant and a lawyer can confirm how tax and timing affect the value in your case.
Frequently asked questions
Does cryptocurrency count in an Ontario divorce?
Property is defined as any interest, present or future, vested or contingent, in real or personal property. That wording can capture crypto-assets. How it is valued depends on the case and the evidence.
Are unvested stock options included?
They can be, because the definition of property covers contingent interests and can capture unvested stock options. How they are valued is decided case by case, often with expert evidence, so a lawyer can confirm your situation.
What if my spouse hides digital assets?
Each party making a property claim must serve a financial statement in Form 13.1 and the required documents. A party must also correct documents they find to be incorrect. A lawyer can advise on options if you think something is missing.
Is a crypto purchase before marriage shared?
Generally only growth during the marriage is shared, because the net value of property owned on the date of marriage is deducted. The spouse claiming the deduction has to prove it.
Sources
- Family Law Act, R.S.O. 1990, c. F.3, s. 4(1) (e-Laws) — Ontario e-Laws
- Ontario.ca – Dividing property when a marriage or common law relationship ends — ontario.ca
- Family Law Rules, O. Reg. 114/99, r. 13 (e-Laws) — Ontario e-Laws
Links go to official government, court and regulator pages. The law changes — confirm you are reading the current version.
This is a family law question
Start a file online — flat, published fees, reviewed by a licensed lawyer before a dollar is owed.