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Difference between revisions of "Property and Debt in Family Law Matters"
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Property and Debt in Family Law Matters (view source)
Revision as of 17:00, 27 June 2019
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*bank statements for the period that includes the date you began to live together or got married, whichever came first, | *bank statements for the period that includes the date you began to live together or got married, whichever came first, | ||
*RRSP, RIF, LIRA and other retirement savings <span class="noglossary">account</span> statements for the same period, | *RRSP, RIF, LIRA, and other retirement savings <span class="noglossary">account</span> statements for the same period, | ||
*any employee pension statements that cover the date you began to live together or got married, | *any employee pension statements that cover the date you began to live together or got married, | ||
*mutual fund and other investment <span class="noglossary">account</span> statements for that period, | *mutual fund and other investment <span class="noglossary">account</span> statements for that period, | ||
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*credit card and loan statements for that period. | *credit card and loan statements for that period. | ||
It will be a harder to look back in time to figure out the value of things like cars, motorcycles, trailers, boats, snowmobiles and so on. If you're entering a relationship now, it will be helpful to look up the [http://www.canadianblackbook.com/ Canadian Black Book] or [http://www.kbb.com/ Kelley Blue Book] estimated values for vehicles. Boats and trailers may need to be specially valued by a dealer. It is important to note that you cannot exclude the ''value'' of the property calculated from the start of the relationship. For example, let's assume one party owned a car worth $20,000 at the beginning of the relationship. Say it is only worth $10,000 at the time of separation. That party gets to keep the car itself, but does not get $20,000 worth of property out of ''family property''. If the car was traded in towards the purchase of a second car during the relationship, however, the trade-in value would be ''excluded property''. | It will be a harder to look back in time to figure out the value of things like cars, motorcycles, trailers, boats, snowmobiles, and so on. If you're entering a relationship now, it will be helpful to look up the [http://www.canadianblackbook.com/ Canadian Black Book] or [http://www.kbb.com/ Kelley Blue Book] estimated values for vehicles. Boats and trailers may need to be specially valued by a dealer. It is important to note that you cannot exclude the ''value'' of the property calculated from the start of the relationship. For example, let's assume one party owned a car worth $20,000 at the beginning of the relationship. Say it is only worth $10,000 at the time of separation. That party gets to keep the car itself, but does not get $20,000 worth of property out of ''family property''. If the car was traded in towards the purchase of a second car during the relationship, however, the trade-in value would be ''excluded property''. | ||
===Property and debt acquired during the relationship=== | ===Property and debt acquired during the relationship=== | ||
