During divorce and separation, the portion of a couple’s pensions and registered retirement savings plans (R.R.S.P.) acquired during the marriage are considered family assets and are subject to division. This is a complex area of divorce and separation, requiring experienced legal representation.
The lawyers of Quay Law Centre are respected leaders in the area of family law in British Columbia and throughout Canada. Contact us to discuss your pensions and retirement account division, as well as your goals and strategies for achieving an accurate and positive division of property.
After establishing the time frame of the marriage, each spouse should receive 50 percent of any relevant pension and R.R.S.P. assets. There are important issues to be considered, such as premarital pensions or R.R.S.P.s, R.R.S.P.s accumulated as a result of gift or inheritance that will require special attention.
With assistance from a trusted network of financial experts, our lawyers will review the pension and R.R.S.P. documents and assist in dividing all of the assets. There are also special rules for the division of certain pensions that are not included in the FLA. Speak to a knowledgeable lawyer to find out if a special rule applies to your pension.
Keeping a Pension or R.R.S.P. Intact
At times, a spouse may wish to keep a pension intact for tax purposes or another reason. In these cases, our lawyers can assist in retaining a pension valuator, who will determine the value and can assist in negotiating a credit in another area of the total family assets.
No matter how the R.R.S.P. or pension is divided, tax implications must be considered for each party at the time funds are withdrawn or transferred. We will carefully review each account and advise you on the most effective approach for your unique circumstances.
For experienced representation by a group devoted to family law, contact Quay Law Centre at 604-527-1161. From our multiple offices, we represent clients in the Metro-Vancouver area, including Surrey, Fraser Valley, Tri-Cities, Burnaby, Kelowna, and any other area throughout B.C., Canada and internationally.