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  • Financial Knowledge advantage and disclosure

    The following came up in my support group:

    Woman married to a guy for 13 years. Husband completely controlled all the money in the relationship. They both worked, she just didn't really involve herself in the financial aspects. Husband has all the documentation.

    How does she fill out her financial disclosure? Her STBX knows more about her financial situation than she does. She is pretty sure that there are loans that are only in her name, but she is not sure. Potentially assets as well. Husband has already put in disclosure that does not include anything that it only in her name. Lawyer is telling her that if she doesn't do disclosure soon she will get into a lot of trouble.

    If she makes a mistake, husband will of course know, will she be nailed for it?

  • #2
    Disclosure is made to the best of her knowledge. If she doesnt disclose something that she has no knowledge of I can't see how that would be held against her. At the same time, I find it difficult to believe she would have no knowledge of loans etc in her name only as she would have had to apply and sign for it. Sounds pretty fishy to me.

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    • #3
      I agree with blinkandimgone. She can go to her various financial institution and get printout of her statements. My exhusband had to rely on information from me through our divorce. I willingly supplied the information along with previous court orders as he didn't have any as he didn't pay his lawyers. Of course I didn't get financial disclosure on assets he had transferred to his girlfriend. Only now after 3 yrs of litigation we are hopeful that he will have to start providing few of the missing links.

      If your friend can get the name of the family accountant that might help out as well (sometimes on tax returns which she can request copy of from CRA).

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      • #4
        Another option is to see a credit councillor who, through your SIN, can pull up any and all debts/loans in her name. There are a lot of places that do credit counselling for free.

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        • #5
          Originally posted by Janus View Post
          The following came up in my support group:

          Woman married to a guy for 13 years. Husband completely controlled all the money in the relationship. They both worked, she just didn't really involve herself in the financial aspects. Husband has all the documentation.

          How does she fill out her financial disclosure? Her STBX knows more about her financial situation than she does. She is pretty sure that there are loans that are only in her name, but she is not sure. Potentially assets as well. Husband has already put in disclosure that does not include anything that it only in her name. Lawyer is telling her that if she doesn't do disclosure soon she will get into a lot of trouble.

          If she makes a mistake, husband will of course know, will she be nailed for it?
          This is the opposite of my situation. I had to do my ex's financial disclosure for him, because I had all the documentation and had done all the finances. Then I gave it to him and told him to add anything he hadn't told me about.

          Do they communicate at all? Can she ask him for the documentation so that she can do up her form? If she points out that her not having it holds up the process he might be willing to be more helpful. Otherwise, she will indeed have to seek out all the banks and so on she remembers him taking her to, and get copies of the statements he is holding on to.

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