Pension or cash???

[vstar33]

I am wondering how to do division of property in my case. Should I buy her half of her equity in the house and not touch her government pension or go for the pension and finance what I have to pay her for her share of the house????

[FL_Needs_To_Change]

Void any details I think that is a personal decision as to what you are ok with.

[vstar33]

I guess I might not have a choice. I am pretty sure we are going to court and My ex is entitled to the equity in the house..I wonder what way the judge will lean. I personally would like to keep the house but I realize she might need the cash....God I hate this!

[dadtotheend]

You have to run the numbers to calclulate an equalization payment for division of family property to see which is better. If you don't go to court, you can saw off as you see fit, but neither of you may know (or want to know) whether one side got a better deal than the other.

If you're pretty sure you will be going to court, you're going to have to value both the house and her pension to figure out division of property.

Maybe you can do that informally between the two of you without having to wedge two lawyers in the middle whose job it will potentially be to call you both liars for the purpose of lining their own pockets at your expense.

[paris]

Are you talking about her work pension? You said government pension. If you are talking about Canada Pension, you can make an agreement that you won't apply for your portion of it later.

The problem with that is Canada Pension won't honour any separation/divorce agreements pertaining to that, and many people have applied for it when the time came anyway.

It's one of those things that have come back to bite many people.

[vstar33]

this is her federal public works pension which is fully indexed I think.