Finances – Bank Accounts and Debts

Bank accounts will be divided in a similar way as the matrimonial property and are governed by the same provincial legislation. This is also the case with debts, regardless of whose name the debt is in. You are both responsible for the settling of the debts while you were together. Matrimonial property and finances are not decided at the date of separation but at the date of settlement (when the divorce is final). Therefore, remember to protect yourself from being responsible for debts not incurred by you during your separation.