Yes, you can open a new bank account during divorce proceedings, but transparency is essential

Opening a separate bank account during divorce is a common and legal step in Canada. However, it’s important to maintain financial transparency throughout the divorce process. To protect yourself and comply with legal requirements, follow these best practices:

• Inform your divorce lawyer before opening the account
• Document all deposits and withdrawals carefully
• Disclose the new account in your financial statements
• Use the account only for post-separation income and expenses
• Keep detailed records of all transactions

Remember that any income earned or assets acquired during the separation period may still be subject to division of property laws, depending on your province’s regulations and your specific circumstances.