July 30, 2020 – Advance on Equalization

“In Zagdanski v. Zagdanski, 2001 CanLII 27981 (ONSC), the court ordered an advance on equalization in the amount of $700,000 to the wife on a motion for partial summary judgment. In doing so, the court set out certain parameters for making such an order. They include (my summary):

a.  There will be little or no chance that the amount of the advance will exceed the final equalization amount;

b.  There will be a degree of certainty about the right to an equalization payment and the minimum amount;

c.  There is a reasonable requirement for funds in advance of any final determination of the case, and;

d.  Fairness, prejudice or delay require that such a payment be made.”

Levine v. Levine, 2018 ONSC 4620 (CanLII) at 18