View Single Post
  #18 (permalink)  
Old 06-07-2017, 11:11 AM
mathatter89 mathatter89 is offline
Join Date: May 2017
Posts: 46
mathatter89 is on a distinguished road

Originally Posted by Berner_Faith View Post
I am not sure what is left to negotiate if you did proper equalization... although I didn't see anywhere about savings, RRSPs, etc. Those also have to be equalized. So if that was not done you could owe her more money. I agree with waiting to see what they formally respond to the court with. Don't respond to her lawyer letter, you have already served her so it's now up to her to go through the proper channels and respond via court.

Any equalization payment will be based on time of separation. I would prepare by making a list of all debts and assets at the time of separation. Including any savings accounts, RRSPs, etc.

It's not uncommon for parents to help their children out... if you're in your 20s I can assume you most likely finished school a few years ago and are starting to get in your feet. There is nothing wrong with parents helping out. There is nothing to claim for that either. Only difference it would make is if these credit cards that were paid off before separation were still used in equalization. Say they paid off $5000 on credit card debt, you can't say you had a $5000 credit card at time of separation to lower the equalization payment. In your case it should be simple math

Sent from my iPhone using Tapatalk
I agree with you which is why i'm waiting for the answer to my application for divorce from her lawyer. If she is seeking SS, she will have to file a financial disclosure as well, so lots of info is yet to hit me and that's why I have not retained a lawyer (but seeking lots of info from lawyers as that is free for me).

We looked at:

1) All liquid bank account info (savings, checking, etc)
2) All investments (TFSAs etc)
3) All pensions (on her part) and RRSP info (on my part)

She was aware of a few things (like unvested stock on my part) but since that wasn't an insane amount of money, she didn't really care to split that in half, and since it's not technically 'mine' at the time since it was unvested, then it's arguable. That being said, she was aware of all my stock payout as we were very transparent with each other.

Ultimately though, anything that was in a bank was accessible by both parties and equalized. Yeah I guess she had $1000USD in cash somewhere and I probably had $40CDN somewhere but the courts don't care about that.

Anyways, that is what baffles me. She retained the most expensive lawyer in town who obviously told her what she wanted to hear, and now wants to lawyer up and fight, and i'm sitting here going..."fight for what?". Well, I guess I'll have my answer in 29 days...

In the meantime, I've contacted multiple friends at work who have gone through this. The growing consensus is that they all sought legal advice, but not the traditional manner where a lawyer does absolutely everything for you and you pay a lot of money. I've had a few back and forths with a few lawyers who will work with me, and not for me and that is quite a bit cheaper. I'm willing to spend a lot of money on lawyers but only if it's worth the $. I'm not an invalid and I have time to do research on my own, so we'll see.
Reply With Quote