What type of property needs to be divided when we decide to divorce?
When you meet with your lawyer or mediator, they will provide a questionnaire for you to complete which includes a list of all of your assets and debts. The following is a list of common types of property which you will have to provide details about:
- Real estate – matrimonial home, recreational properties, etc. including mortgages
- Pension Plan details – obtain a Statement of Division of Pension On Marriage Breakdown
- RRSPs
- Bank Accounts – chequing, savings, investments, credit union equity accounts
- Vehicles – household and recreational (quads, snowmobiles, watercrafts)
- Life Insurance Policies
- Points Accounts – Aeroplan, Air Miles, Co-Op, HBC, etc.
- Business Interests
- Personal Loans – lines of credit, family loans, student loans, etc.
- Credit Cards
- Inheritances, Gifts
You must tell your lawyer or mediator these types of details: in whose name each asset is registered, the current fair market value, the date it was purchased and/or sold (if applicable), the lender’s name and balance outstanding on each debt, in the case of an inheritance or a gift – who you received it from, and when.
For a copy of our questionnaire, you may visit our website under “FAQs”. You can complete this questionnaire and take it to any lawyer of your choice.
Feel free to contact Stephanie to answer your questions or to set up a consultation.