During divorce and separation, the portion of a couple’s pensions and registered retirement savings plans (R.R.S.P.) acquired during the marriage are considered family assets and are subject to division. This is a complex area of divorce and separation, requiring experienced legal representation. The lawyers of are respected leaders in the area of family law in British Columbia and throughout Canada. Contact us to discuss your pensions and retirement plans, as well as your goals and strategies for achieving an accurate and positive division of property.
After establishing the timeframe of the marriage, each spouse should receive 50 percent of any relevant pension and R.R.S.P. assets. There are important issues to be considered, such as pre-marital pensions or R.R.S.P.’s, R.R.S.P.’s accumulated as a result of gift or inheritance that will require special attention. With assistance from a trusted network of financial experts, our lawyers will review the pension and R.R.S.P. documents and assist in dividing all of the assets. There are also special rules for the division of certain pensions that are not included in the FRA. Speak to a knowledgeable lawyer to find out if a special rule applies to your pension.
Keeping a Pension or R.R.S.P. Intact
At times, a spouse may wish to keep a pension intact for tax purposes or another reason. In these cases, our lawyers can assist in retaining a pension valuator, who will determine the value and can assist in negotiating a credit in another area of the total family assets. No matter how the R.R.S.P. or pension is divided, tax implications must be considered for each party at the time funds are withdrawn or transferred. We will carefully review each account and advise you on the most effective approach for your unique circumstances.