My wife and I have been married for 9 months and things aren't going well between us. Couples counselling seems unlikely and if this leads to a separation, I need some advice on the financial implications. I will get in touch with a lawyer, if the need be, but I wanted to get some general advice in the meanwhile. I have done some research but unable to find anything conclusive.
After marriage, for the first 6 months, my wife stayed in my house that I co-owned with my parent. (Let's just call this the "old" house for ease of reference). After 6 months, we bought our own house (let's call this "new" house) in a different city and moved there 3 months ago. I still co-own the "old" house where my parent is living right now. My wife wasn't expected to and didn't contribute anything financially towards the "old" house.
The only common asset my wife and I have (where both are listed as registered owners) is the "new" house we moved in 3 months ago. Both cars are registered under my name (purchased before marriage) and my wife doesn't drive either. We don't have any joint savings accounts - just individual RRSP, TFSAs, and CPP.
How would asset split work in my situation with both the "new" and "old" house? What about our individual investment and CPP accounts?
Thanks!
After marriage, for the first 6 months, my wife stayed in my house that I co-owned with my parent. (Let's just call this the "old" house for ease of reference). After 6 months, we bought our own house (let's call this "new" house) in a different city and moved there 3 months ago. I still co-own the "old" house where my parent is living right now. My wife wasn't expected to and didn't contribute anything financially towards the "old" house.
The only common asset my wife and I have (where both are listed as registered owners) is the "new" house we moved in 3 months ago. Both cars are registered under my name (purchased before marriage) and my wife doesn't drive either. We don't have any joint savings accounts - just individual RRSP, TFSAs, and CPP.
How would asset split work in my situation with both the "new" and "old" house? What about our individual investment and CPP accounts?
Thanks!
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