Note that obtaining a separation agreement is not the same as a divorce. These are two separate issues where partners are often separated for many years before final divorce. Note 8: Chartered Financial Divorce Specialists (CDFS) and a Certified Divorce Financial Analyst (CDFA) are financial planners trained in separation and divorce work. Some auditors may have considerable experience, particularly in tax matters, but probably not in the depths of a CDFS or CDFA. While family lawyers will be familiar with the results of the financial analysis, most are not trained in calculations. Other financial specialists may also be needed. If you have real estate, you should consider using accredited auditors to obtain securities (don`t use the value of property tax); for companies, a chartered business valuer may be required to evaluate the business. An actuary trained as a pension valuer will likely be required if one of you is entitled to a guaranteed lifetime pension from your employer (a “benefit plan”), such as the . B paid to officials. Pensions provided by employers (for example. B the federal government) are not normally suitable for separations. It is important to use an actuary to ensure that the distribution of pensions is fair if you accept a lump sum bill. You`ll find more information on pension valuations and the reason for the frequent error in using the wrong value in my article Pension Values for Separation and Divorce – A Common Error – Use the Correct Value! And remember that all assets must be assessed after taxable costs are to be taken into account – the value of a taxable RRSP that holds $100,000 of investment is much lower than the value of a tax-free principal residence of $100,000.

Note 1: Often, the person who lives in the household pays for all household operating costs, such as heat, electricity, telephone, cable television, etc. This is often referred to as “professional rent” because it is a cost of occupancy of the house, while the other partner rents on a new site. The payment of such expenses assumes that the party that remains in the house has enough money to do so. Otherwise, further negotiations on aid will be needed. Mortgage payments, property taxes, major repairs and insurance are expenses to preserve the value of the home, and are often shared evenly until a decision is made as to who will take the house, unless it is sold. Those who keep the house bear responsibility for these costs retroactively at the time of separation. If the to-do lists in this article, it`s because it is. The separation process is emotionally, physically and financially demanding. It will be much easier and less expensive (but still not easy) if you are able to talk openly and without rage with your partner.

You have to be respectful and fair to each other. The IEP Family Act brochures have been developed to improve access to family law information for newly established individuals in Canada. They contain information on separation, divorce, division of property, custody of spouses, custody and access (parental), custody of children, cancellations, domestic violence and family law immigration status. Couples in common law relationships are not subject to the same rules and there is no legislation that guides you. Across Canada, unmarried couples are subject to common and equitable principles of “unfair enrichment” and “constructive trust.” There is no automatic right to a share of the value or interest in the property owned by a common law spouse.