PREPARING FOR AN AMICABLE DIVORCE

Divorce is not always easy. The procedures can cause stress and anxiety, especially if there are children from the marriage.

That said, sometimes it's the only way to be able to go on with your life with good mental health.

This article is to guide you a little on the elements that you must discuss in the event that you decide to divorce amicably, this ideal solution being the least expensive for the couple.

Before starting, it should be remembered that each marriage is governed by two regimes:

-The primary regime: The family patrimony.

-The secondary regime: The matrimonial regime.

The family patrimony is generally composed of any property dedicated or used for family purposes, here are some examples:

-The house of the spouses;

-The family cottage;

-The condo in another country or province where the family is vacationing;

-The camping trailer;

-The objects that furnish the residences of the family such as furniture.

- Motor vehicles used by the family

-The money accumulated during the marriage in a retirement plan such as RRSPs, pension funds (RREGOP, FTQ), QPP, etc.

Initially, you need to make a list of these assets and establish their value. You must decide if you want to share them equally (as established by law), waive them or share them according to another agreement suitable to your situation.

A very important point is that there are certain assets which are excluded from the partition of the family patrimony (even if they were used for family purposes) such as assets received in inheritance or in the form of gifts. Thus, the latter should not be taken into consideration when establishing the value of the family patrimony.

As for the matrimonial regime, it is the one that applies to all assets that are not part of the family patrimony, in other words, assets that were not used for family purposes such as shares in a company, a TFSA account, income property, etc.

The division of this property depends on the matrimonial regime applicable to your marriage. In Quebec, there are three plans:

-The partnership of acquest (the default regime since July 1 ^, 1970): Only property acquired during the marriage can be divided in principle half/half.

-Community of property: All property acquired before and/or after marriage can be shared in principle half/half.

- Separation of property: No property acquired both before and after the marriage will be shared. For this regime, as the default regime is that of the partnership of acquest, you can only modify it via a marriage contract with a notary either during the marriage or after.

After settling the partition according to the family regimes applicable to your situation, it is necessary to discuss spousal and child support and parental time (custody), if applicable.

These topics will be covered in another article.

For any information do not hesitate to contact us at 1-888-653-8299 or by email at info@droitlegal.ca .