Hi all,
For Net Family Property calculations, a couple of questions:
1. Do you have to list RRSPs/retirement savings that were in place before marriage?
2. One has accused the other of incurring $25000 on credit cards over the course of 2-3 years (which subsequently was rolled into a joint mortgage renewal after separating/date of valuation). Who, if anyone should list that debt, or does it even classify as debt?
The $25000 could be debated, and was not incurred on "wild expenses" like big trips, jewelry, etc, it was mostly meals, gas costs and occasional small purchases, and spent before separation. The amounts were spent during a time when one spouse was staying with friends before separation - and no intent to separate had been declared.
Other possibly-relevant information: Marriage date to Separation Date, approximately 6 years (2006 - 2012); The credit cards were in one spouse's name, with the other (spending spouse) as an additional card holder.
Looking more for best practices or rules, as opposed to opinions.
Regards,
nat
For Net Family Property calculations, a couple of questions:
1. Do you have to list RRSPs/retirement savings that were in place before marriage?
2. One has accused the other of incurring $25000 on credit cards over the course of 2-3 years (which subsequently was rolled into a joint mortgage renewal after separating/date of valuation). Who, if anyone should list that debt, or does it even classify as debt?
The $25000 could be debated, and was not incurred on "wild expenses" like big trips, jewelry, etc, it was mostly meals, gas costs and occasional small purchases, and spent before separation. The amounts were spent during a time when one spouse was staying with friends before separation - and no intent to separate had been declared.
Other possibly-relevant information: Marriage date to Separation Date, approximately 6 years (2006 - 2012); The credit cards were in one spouse's name, with the other (spending spouse) as an additional card holder.
Looking more for best practices or rules, as opposed to opinions.
Regards,
nat
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