Following the breakdown of a long-term marriage with children, the court addressed disputes regarding spousal support, child support, section 7 extraordinary expenses, and equalization of net family property.
The payor asserted he had overpaid support due to a decline in income, while the recipient relied on expert financial analysis challenging his claimed earnings.
The court imputed income to the payor of $75,000 beginning in 2009 based on lifestyle evidence and inadequate financial disclosure, retroactively adjusted child support, reduced and terminated spousal support, and ordered payment of arrears for extraordinary expenses.
In the equalization analysis, the court rejected a valuation prepared by the payor’s accountant due to lack of independence and methodological deficiencies, preferring a detailed valuation prepared by a chartered business valuator.
The court ordered an equalization payment to the respondent and directed recalculation of support arrears through the Family Responsibility Office.
