Division Of Marital Property

Typically marital assets and debts are shared 50/50. However, there may be exemptions (something that was owned by one person prior to marriage, a personal gift, or injury settlement), each person may want to keep their own RRSPs or pensions even if it means the split is not balanced, and some couples choose for one person to have a larger share of debts or assets for their own personal reasons. As long as both people understand what their rights are under the law, and they both agree, they can make almost any decision they like in regards to their financial situation.

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