Pre-marriage LIRA value is typically excluded property that can be protected with proper documentation. Yes, here are ways to protect LIRA assets acquired before marriage: Excluded Property: In most Canadian provinces, the value of your [...]
The basic formula is Separation Date Value minus Marriage Date Value equals Matrimonial Portion. Calculating the matrimonial portion of a LIRA follows this fundamental formula: Value at Separation Date - Value at Marriage Date = [...]
Investment losses during marriage are typically shared between spouses just like gains would be. Market fluctuations affect LIRA values and if your account has decreased in value during your marriage, that reduced value is the [...]
Only the portion of your LIRA that accumulated during marriage is typically divided equally. In most Canadian provinces, LIRA assets are divided according to the “matrimonial portion” principle. This means only the growth that occurred [...]
Your LIRA information remains private unless legally required during divorce proceedings. Financial institutions will not release your Locked-In Retirement Account (LIRA) information to your spouse without your consent. But during divorce, full financial disclosure is [...]
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