1. Using the following facts, calculate the NFPs of the spouses and the equalization of their NFPs.

Wife's Financial Situation

At the date of the marriage:

• Owned a condominium townhouse then worth $100,000 which she and her husband lived in during the marriage until separation.
• Had a fur coat valued at $2,000.
• Had a car worth $8,000.
• Had a sculpture, which she had inherited from herfather, worth $5,000.
• Had a bank account containing $1,000.
• Had credit card debts of $1,000.

During the marriage:

• The wife received $40,000 as damages from a car accident in which she was injured.
• She invested the $40,000 in Cineplex shares.

At the date of separation:

• Has the same condominium she owned at marriage, in which she and the husband lived until separation, now worth $350,000.
• Has the fur coat which she owned at marriage, now worth only $1,000.
• Has a new car worth $30,000 (the old one was sold).
• Has the sculpture which she owned at marriage, now worth $10,000.
• Has the Cineplex shares purchased with her settlement proceeds, now worth $50,000.
• Has a joint savings account with the husband with a total balance of $20,000.
• Has no debts.

Husband's Financial Situation

At the date of marriage:

• Had a Jeep worth $5,000.
• Owned a small courier company valued at $15,000.
• Had a bank account containing $5,000.
• Had no debts.

During the marriage:

• The husband inherited some Bell Canada shares from his father, then worth $20,000.

At the date of separation:

• Has a Cadillac worth $50,000 (the Jeep was sold).
• Still owns the courier company, now worth $250,000.
• Has the joint account with the wife with a total balance of $20,000.
• Still has the inherited Bell Canada shares, now worth $25,000.
• Has a car loan with an outstanding balance of$5,000.