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Division and equalization of property

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  • 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.

  • #2
    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.


    • #3
      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.


      • #4
        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?


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