Emptying your bank account before divorce is illegal and can result in serious legal consequences
Withdrawing all funds from joint or personal accounts before divorce proceedings is considered financial misconduct under Canadian family law. This action can severely impact your divorce settlement and may result in penalties.
The courts require full financial disclosure and fair division of matrimonial assets. Taking such actions could lead to:
- Court-ordered repayment of withdrawn funds
- Negative impact on your equalization payment calculations
- Potential legal sanctions and fines
- Damage to your credibility during divorce proceedings
- Additional legal costs and delays in settlement