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I am going through a separation. Should I trust that my former spouse will give a truthful valuation of their assets and income?

No. Even after a separation many people still give their former spouse the benefit of the doubt when it comes to being truthful about the value of their assets and their income.

People decide that they do not want to hire lawyers or professionals to value their family assets because they do not want to spend money. They say things like “we are going to do this on our own” and “we don’t need lawyers”. This can be a very short-sighted approach and a very costly one in the end.

For example, some employment pensions are worth between $500,000 and $1,000,000. Pensions are often the most valuable family asset and its value is to be divided between separating spouses. If you sign an agreement waiving your right to share in this valuable asset, you could be short-changing yourself to the tune of a few hundred thousand dollars.

Brantford Office

20 Wellington St., P.O. Box 1510
Brantford, ON N3T 5V6
t 519.759.6220
f 519.759.8360
law@waterousholden.com

Paris Office

7 William St.
Paris, ON N3L 1K6
t 519.442.5571
f 519.442.5567

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