Austin and Mila are filing for divorce after fifteen years of marriage. Austin moved out about 16 months ago and they ha
Posted: Fri Mar 04, 2022 9:42 am
Austin and Mila are filing for divorce after fifteen years of
marriage. Austin moved out about 16 months ago and they have been
living separate and apart ever since. During the time they were
married, Mila had inherited some money from her late father, which
she has kept separately in her bank account. Austin is a public
service worker with a large pension, he is worried what impact the
divorce may have. Mila and Austin both have TFSA and RRSPs.
Which of the following statements regarding Mila and Austin's
situation is correct?
a.
They have to be living separate and apart for 24 months prior to
filing for divorce.
b.
Both Mila and Austin should review the beneficiary designations on
their accounts to ensure they reflect their wishes since the
divorce.
c.
The inheritance will form part of their marital property subject to
division.
d.
Defined benefit pensions are not subject to splitting, therefore
Austin's pension will not be impacted).
marriage. Austin moved out about 16 months ago and they have been
living separate and apart ever since. During the time they were
married, Mila had inherited some money from her late father, which
she has kept separately in her bank account. Austin is a public
service worker with a large pension, he is worried what impact the
divorce may have. Mila and Austin both have TFSA and RRSPs.
Which of the following statements regarding Mila and Austin's
situation is correct?
a.
They have to be living separate and apart for 24 months prior to
filing for divorce.
b.
Both Mila and Austin should review the beneficiary designations on
their accounts to ensure they reflect their wishes since the
divorce.
c.
The inheritance will form part of their marital property subject to
division.
d.
Defined benefit pensions are not subject to splitting, therefore
Austin's pension will not be impacted).