Registered Retirement Savings Plans are the main savings vehicle for many Canadians, especially those who don’t have a pension through their employment. As a result, upon separation and divorce, RRSP’s are part of the property settlement.
Our guest blog this week is by Sandra Ramos, a well known financial advisor in Barrie, Ontario. She
There is a saying… "the Devil is in the Details"…. meaning details that are overlooked can cause problems later. No doubt this is true when drafting a separation agreement. Attention to detail is essential.
The top ten big issues that need to be resolved are:
Matthew Krofchuk has written a excellent blog at Divorce Happens Blog regarding the changes to the pension division legislation in Ontario which came into affect January 1, 2012. Matthew is with Krofchick Valuation so knows his stuff.
The biggest impact of the new legislation is that you can now divided Ontario pensions at source if
So, you lived together in a common law relationship but now it has come to an end. Your friends say “When you separate, it’s just the same as if you had been married. Everything is 50/50!”
This is an urban myth. In Ontario, it is more complicated.
Of course, the starting point is that you
I interview people who went to Family Court and those who chose Collaborative Practice instead. Clearly, Collaborative Practice is the better way. I hope you enjoy the video.
https://youtube.com/watch?v=9WSWtNQfs5w%3Frel%3D0
Do you remember the day you separated? How did it happen? Was a note left or an email sent to say it’s over? Maybe a text? Maybe it was a screaming match? Maybe it was just a sad mutual realization that your marriage was over?
Regardless of how it happens, the date of separation is