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Husband is wanting divorce, wants me to sell the house with…

Husband is wanting divorce...
Husband is wanting divorce , wants me to sell the house with 50/50 Split he says if I am agreeable to this he will not garnish my pension which is a few hundred dollars more than his, we also have a line of credit we got for our mortgage which I have almost paid off server all times but I have discovered he has been using this to pay his personal bills eg.cell phone, cars, MasterCard, Cuban cigars, trips . Gym membership, money for stock investments (am I entitled to half of the profits) also I gave him $4000.00 to open a cash account which he invested and turned this into $15,000.00 and has decided to take $7000.00 for brokerage fees which we did not Agree to ... After reading all this what am I entitled too, can he garnish my pension. I have given him money for thirty years to go towards paying my share of the bills and lower the line of credit...what rights do I have ...live in Ontario Canada
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Answered in 2 hours by:
3/27/2018
Legal Ease
Legal Ease, Lawyer
Category: Canada Family Law
Satisfied Customers: 105,605
Experience: I am a practicing lawyer and have also been an online professional for 5 years.
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Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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I an sorry to hear of this difficult situation.

Are you saying you have been married for 30 years?

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Customer reply replied 3 months ago
Married May 1986
Customer reply replied 3 months ago
Also my husbands RRSP trading account is much higher than mine, am I entitled to this

Here is how this will work.

The value of all assets acquired during the marriage aside from gifts and inheritances will be shared. The value of all debts acquired during the marriage will also be shared. Pensions and RRSps are treated the way any other asset is treated.

If you brought an asset into the marriage then the increase in value of the asset over the course of the marriage is shared. So if, for example you brought in your RRSP it would be valuated as of the date of separation and as of the date of marriage and the increase in value is shared.

In terms of support the goal of the court will be to equalize your incomes.

Does that help clarify the law for you?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 3 months ago
this clarifies what I wanted to know. Thank you so much 5 stars again
Customer reply replied 3 months ago
Need clarifying can he garnish my pension or is that the asset and how does that work as an asset?

He cannot garnish a thing. It is an asset and the value of the assets will be shared. The one with the higher total of assets will pay to the one with the lower total a payment (called an equalization payment) to make the totals equal.

Don't let his threats worry you.

Please be sure to click on the stars at the top of the page so the site sees the rating!

Thanks

Legal Ease
Legal Ease, Lawyer
Category: Canada Family Law
Satisfied Customers: 105,605
Experience: I am a practicing lawyer and have also been an online professional for 5 years.
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