Net Family Property question

[fakemarriage]

Guys,
Lets say I had 100k RRSP on date of marriage
and 120k RRSP on date of separation

I owe my ex 10k ? right

she's broke and we have no kid/house together...marriage was only 13 months long.

Please advise

[Rioe]

Yup, that's pretty much it. Although it's all calculated in conjunction with other debts and assets, so you don't have to just take 10k out of your RRSP and give it to her. Just make sure the debts and assets are even in the end.

[mafia007]

Financially, yes. Emotionally, no. She'll say that she went into hell with you during those 13 months and she should be entitled to half of 120K.

Don't worry, for a short term marriage like that, your NFP should be;

RRSP at valuation 120K - RRSP at marriage 100K = 20K. (All depends of the other items in your NFP. You're saying "she's broke". If those debts were created during your union, it could play against you when equalizing the payment.)

20K divided by 2 = 10K.

10K for a 13 months marriage is a nice gift.

[fakemarriage]

thanks guys...you guys rock.....

[hopefull]

More like criminal...especially if it's tax free.

Financially, yes. Emotionally, no. She'll say that she went into hell with you during those 13 months and she should be entitled to half of 120K.

Don't worry, for a short term marriage like that, your NFP should be;

RRSP at valuation 120K - RRSP at marriage 100K = 20K. (All depends of the other items in your NFP. You're saying "she's broke". If those debts were created during your union, it could play against you when equalizing the payment.)

20K divided by 2 = 10K.

10K for a 13 months marriage is a nice gift.

[fakemarriage]

it's her lawyer...whos creating all the issues...
she wants all the paper work...which I have provided....
and wants more paper work and more paper work..and more paper work

and i'm getting biased Judge all the time

[arabian]

Here is a link which you should read:

https://www.canlii.org/en/on/onsc/do...&resultIndex=6

Scroll down to the part where it talks about the valuation...

"Variation of share

(6) The court may award a spouse an amount that is more or less than half the difference between the net family properties if the court is of the opinion that equalizing the net family properties would be unconscionable, having regard to,

...

(e) The fact that the amount a spouse would otherwise receive under subsection (1), (2) or (3) is disproportionately large in relation to a period of cohabitation that is less than five years;

(f) The fact that one spouse has incurred a disproportionately larger amount of debts or other liabilities than the other spouse for the support of the family;

...

(h) any other circumstance relating to the acquisition, disposition, preservation, maintenance or improvement of property. "