Separation calculation concerning a pension plan. Ontario. Doin g Financial statement and calculating what I am worth

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

I am sorry to hear of this difficult situation.

Please let me know the basic facts. Are you asking how to deal with the pension when you are doing the division of asset calculation?

Thanks

I didn't actually get your texts until you asked if I got your text.

The valuation is done by the Plan administrator of the pension.

They will valuate the pension as of the date of marriage and as of the date of separation. You share equally in the value of the increase in the pension over the course of the marriage.

In most cases you will have to add the RESP to your NFP as you are the owner of the asset. But if some of the money was gifted to you that part could be left out or if there is a marriage contract or even a separation agreement that treats it differently.

Does that clarify the law?

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You share in the value of the pension equally because it was not pre-owned.

You can try and get an agreement that they not be included but then they would have to be used equally by both of you so it wouldn't be that your part of the school expenses would come out of the RESP and the other parent would have to pay from their own personal money.

You take 100% of all assets.

But for the RRSP it is reduced by the deemed disposition costs. That is not the same with the pension because you would pay tax when the money comes out of the RRSp.

The RESP is yours. But sometimes it can be left out by agreement. You are saying it will be gone in three years and that is clearly because you will be paying for school.

In most cases the RESP would be part of your NFP but then you would be free to use it for your share of the school expenses.

You can both agree to leave it out of the NFP and then the money would go towards the school expenses but it would count as both of your contributions.

You use 13B.

Table 3 and 4 is where you list the items that are deducted.