What Happens to Savings Account When You Separate or Divorce?

savings accounts separation divorce

Making your Savings financial disclosure


Saving financial disclosure Documents Details

divorce financial disclosure savings account

To obtain this document, you may need these dates:

  • Inclusive date of marriage
  • Inclusive date of separation
  • The current date that you are obtaining the document.

Obtaining a digital copy of this document:


How Do I Get Digital Copy of This Document

You can download an electronic copy (pdf) to your laptop from several online outlets. You may also use “Print to PDF” for most up-to-date browsers to print to a document.

How To Scan Your Hard-Copy Document

You may do so either from your own home or office scanner or even with Staples Company Depot.

Articles that may interest You!

How to handle finances during separation?Ken Maynard CDFA, Acc.FM

Handling finances during separation in Ontario involves creating a budget, separating joint accounts, and consulting financial experts like a Certified Divorce Financial Analyst.

Can a joint bank account be contestedKen Maynard CDFA, Acc.FM

Yes, either party can contest the division of a joint bank account in Ontario, but it usually requires legal proceedings to resolve.

Can I open a new bank account during a divorce?Ken Maynard CDFA, Acc.FM

Yes, you can open a new bank account during a divorce in Ontario, but it’s advisable to inform your spouse and legal counsel to avoid complications.

How are bank accounts split in a divorce?Ken Maynard CDFA, Acc.FM

In Ontario, bank accounts are typically subject to the equalization process, which aims to divide marital assets fairly.

How to separate finances during separation?Ken Maynard CDFA, Acc.FM

In Ontario, it’s advisable to close joint accounts, open individual accounts, and consult a Certified Divorce Financial Analyst for a comprehensive plan.

Can I empty my bank account before divorce?Ken Maynard CDFA, Acc.FM

No, doing so could be considered financial misconduct under Ontario law and may affect the equalization process.

Can you ask the bank if your spouse has a bank account in divorce?Ken Maynard CDFA, Acc.FM

No, banks in Ontario are generally prohibited from disclosing personal information without consent. You may need a court order.

Are separate bank accounts marital property?Ken Maynard CDFA, Acc.FM

Yes, under Ontario law, separate bank accounts can be considered marital property and may be subject to equalization.

Is my wife entitled to half my savings?Ken Maynard CDFA, Acc.FM

No, in Ontario, the division of property is based on the concept of “equalization,” which may not necessarily mean a 50/50 split of savings.

Related Documents:

About the Author:
Ken Maynard CDFA, Acc.FM

I assist intelligent and successful couples in crafting rapid, custom separation agreements that pave the way for a smooth transition towards a secure future. This efficient process is achieved in about four meetings, effectively sidestepping the excessive conflicts, confusion, and costs commonly linked to legal proceedings. Clients have the flexibility to collaborate with me either via video conference or in-person through a DTSW associate at any of our six Greater Toronto mediation centers, located in Aurora, Barrie, North York, Vaughan, Mississauga, and Scarborough.

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Ken Maynard CDFA, Acc.FM