My wife and I (both Canadian citizens - together 23 years -

My wife and I (both Canadian citizens - together 23 years - officially married for 18 years) purchased a travel agency business 16 months ago for 1.25 million. We still owe the previous owners of the business 153,750. We incorporated a holding company (which my wife and I own 50% 50%) and the holding company purchased the shares of the travel agency corporation for $1.25 million. My wife has nothing to do with the travel agency business and still has a full time job with a major insurance company. I live 3.5 hours north of Toronto and run the business from up there (come home to Toronto periodically)..

I understand that as a married couple, in the event that we divorce, that all of all of our assets would normally be split 50% 50%, unless we agree otherwise. How would we go about setting out a legally binding ageement (separation agreement/divorce agreement?) that differs from the normal 50% 50% split? She is willing to let me keep my business if I buy her a condominium. If we divorce, is the business deemed to be sold, even if I don't have to pay her anything for her 50% share? Would there be any tax consequences? I don't think that the business is worth more than we paid for it (it has only been 16 months since we bought it)... Would we have to stay married (i.e. just separate) to avoid negative tax consequences? I would appreciate your opinion...