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

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Old 02-27-2011, 10:34 PM
wraith wraith is offline
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Default Form 13.1 help

I apologize in advance if this has already been covered, but I have been hunting through the posts and still can't get clarity on some of my questions.

My ex and I signed our separation papers in Sept (separation date was listed as July) and are in the process for filing for a joint divorce with my X doing all of the work. (we were married 22 years) Things are amicable and he's been paying me ss since Oct. Our arrangments were for me to keep the matrimonial home and other assets, but I had to pay him out with a lump sum which required me to refinance the house. My questions are:

Do we still have to fill out form 13.1 in full detail even though we have a separation agreement and he's already following through with our arrangement? We have it that we are to review the terms of ss every 3 years in case of income changes.

Do we each have to fill out the form or do we list both sets of info on the same form and specify husband's portion and wife's portion.

If we do have to fill out the form, do we have to provide the most current info (ie, the current ss payments that he's paying me, him listing his home that he bought with the money that was paid out to him after we separated, my liability being the amount that I needed to pay him out etc...)

Thank you in advance for your responses. It's all so overwhelming especially when this is the last thing you ever wanted to happen....
Old 02-27-2011, 11:20 PM
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Rioe Rioe is offline
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You should each fill out your own form, listing your halves of each joint asset and debt, and any asset and debt that is solely in your name. They will probably look very similar, but yours might list a larger work pension, and your ex's might list a larger RRSP, or your car vs his car, for example.

It should be current as of date of separation, so it won't have spousal support listed, or the home he bought subsequent to the separation. It's a picture of your financial situation at the exact end of the marriage, for the purpose of splitting the wealth (and debts).

The goal of all this is full financial disclosure, to legally show that neither of you was keeping financial secrets, and that everything is divided up fairly or equitably, or however you agreed. This protects you from such things as the agreement being opened years later at retirement, when one of you learns that the other's pension was much bigger than you knew about, for example, and makes sure that you both agree on the value of the matrimonial home, that sort of thing.

It's to protect you from the agreement being thrown out in court later on down the road. Things may be amicable now, but you have no idea what could happen in the future, so you definitely want your agreement registered with a court. This means you also need independent legal advice, as in your very own lawyer reads it, explains it to you, and signs it to prove that you are fully aware of and understand the contents. Don't just let your ex prepare it and sign it blindly trusting that he's been fair.

Good luck to you. It's a very hard time (we all know) right now but I have learned that it is far better emotionally to be single than it is to be in a relationship with someone who doesn't want to be there.
Old 02-28-2011, 08:42 PM
wraith wraith is offline
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Thank you for getting back to me. I also appreciated your words about legal advice. Our goal is to get the papers done up and then have my lawyer review them to make sure that I'm protected. He will have the opportunity to seek legal counsel as well.

Thank you for explaining the form to makes more sense to me now.
Just a quick question, do we have to fill it out completely, or can we just write...refer to separation agreement, section X, etc..?

I also appreciated your comment about the better to be alone emotionally....I totally relate and "get it". Yet, it's still hard on the heart...
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