Separate bank accounts are typically considered marital property in Ontario and subject to division during divorce.

Under Ontario’s Family Law Act, any assets acquired during marriage, including separate bank accounts, are generally considered part of the matrimonial property regardless of whose name is on the account. This applies to:

• Personal chequing and savings accounts
• Joint accounts between spouses
• Business accounts owned by either spouse
• Investment accounts opened during marriage

The key factor is not whose name appears on the account, but rather when the funds were acquired. Money earned or deposited during the marriage typically becomes part of the net family property subject to equalization upon separation or divorce.