Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 10-25-2016, 07:51 PM
Member
 
Join Date: Feb 2016
Posts: 33
dad1414 is on a distinguished road
Default Division and equalization of property

The ex and I never did a Division and equalization of property at the time of separation and have assumed that it would be divided when we finalize our divorce (the lawyers never mentioned it). Almost 4 years later the ex is ready to divide everything up after my many attempts over the years to divide the property. Either of us brought anything into the marriage so its whatever we accumulated during the marriage that needs to be divided. The ex wants to go back to the date of separation. Since we didn't split everything almost 4 years ago I suggested we just use todays values for the matrimonial vehicles, stocks, home, and debt. And use the date of separation for our RRSPs and chequing/savings accounts.

Am I being fair or unreasonable with this proposal?

I am trying to resolve the black and white (haha) issues out of court so we can focus on the bigger differences at the 5 day trial.
Reply With Quote
  #2 (permalink)  
Old 10-25-2016, 09:40 PM
blinkandimgone's Avatar
Moderator
 
Join Date: Feb 2010
Location: Lucknow
Posts: 5,174
blinkandimgone has a spectacular aura aboutblinkandimgone has a spectacular aura aboutblinkandimgone has a spectacular aura about
Default

Your valuation date would be the date of seperation. The matrimonial home may be complicated depending on who is residing in it vs paying for it.
Reply With Quote
  #3 (permalink)  
Old 10-25-2016, 10:01 PM
Senior Member
 
Join Date: Dec 2006
Location: Kitchener Ontario
Posts: 5,200
standing on the sidelines is on a distinguished road
Default

I don't think that using the current date for debts and the separation date for bank accounts would be fair at all. One could of run up debts galore and the other party could have saved lots of money since the separation.
Reply With Quote
  #4 (permalink)  
Old 10-26-2016, 09:37 AM
Senior Member
 
Join Date: Feb 2013
Posts: 2,836
stripes is on a distinguished road
Default

I think you need to use the date of separation for everything. For financial things (savings accounts, debts, stocks, pensions, RRSPs) this should be fairly easy to figure out. To ascertain the value of your house four years ago, I suggest you contact a real estate appraiser (not a real estate agent). You might then need to adjust the value of the house at the time of separation if one of you has been living in it and/or paying the mortgage for three years - there are many threads here about how to do that.

I don't know what to do about the vehicles - maybe look online for blue book value from the year that you separated?
Reply With Quote
Reply

Tags
assets, equalization, property division, proposal


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Family farm business, equalization and division of property and debt arabian Financial Issues 0 03-23-2015 09:02 PM
Net family property and the equalization payment dadtotheend Financial Issues 31 04-20-2014 08:22 PM
Property division long after separatin and divorce sml Financial Issues 4 10-06-2011 07:50 PM
Property division long after separation and divorce sml Financial Issues 0 06-21-2011 03:11 PM
equalization payment and property division hockeydad Financial Issues 2 04-28-2010 04:59 PM


All times are GMT -4. The time now is 01:03 PM.