My ex wants me to sign a separation agreement in Nova Scotia. What information should I get before I sign it?

If you’ve separated from your spouse or common law partner in Nova Scotia, a separation agreement is the easiest way to deal with all of the financial parts of separating, especially if you can agree on the terms. Your bank will also likely require a formal separation agreement, with independent legal advice before allowing you to remortgage your home.

‘Disclosure’ is the financial information you’re entitled to

Before signing a separation agreement, there are pieces of information you should share with each other, to make sure that you know what you are agreeing to. Lawyers call this information “disclosure” and it can be the most important part of coming to a fair agreement.

Review your ex’s historical income records

The most important disclosure is about income. At the very least, you should have a copy of your ex’s tax return for the last tax year, or a statement of income, like a T4, that shows how much money they made in the previous year, before taxes. Ideally, you would have the last three years of tax returns, and a copy of their most recent pay stub, if they have one, so that you know what their income is currently, and what it is usually like. You should provide the same information to your ex.

Review your ex’s pension information

The next most important disclosure is pension information. In Nova Scotia, most pensions also allow common law spouses to make claims to their ex’s pensions when separating. If you are being asked to agree not to make a claim to your ex’s pension, you should know how much you could be entitled to, before signing an agreement. If you have a pension, that same information should be given to your ex, as they have the same rights.

Matrimonial Property Act defaults to equal division of certain assets for legally married couples

There are other items that are also good to have, particularly if you are legally married, as section 4(1) of the Nova Scotia Matrimonial Property Act says that any assets owned by one spouse (or both spouses together) are “matrimonial assets”, which are presumed to be divided equally between the spouses if they separate. There are some exceptions, so it is always a good idea to get legal advice, as well as disclosure, especially if you or your spouse have any of the following:

  1. Shares in a company, or ownership of a business;

  2. Real property (land & houses) besides the one you live in as a married couple;

  3. Investments (like TFSA, RRSP, mutual funds, bonds, etc);

  4. CRA or other debts in one spouse’s name; and/or

  5. Vehicles, machinery, etc., of significant value.

Legal Advice Strongly Encouraged

Any time you are asked to sign an agreement or contract, you want to make sure that you know what you are getting and what you are giving up when you sign it. In Nova Scotia, a separation agreement is a legal document, and can be registered with the court, which give it the status of a court order. Once signed, you can only change the terms if the other person agrees to do so or the court orders the changes.

Not understanding what you were entitled to is not generally a valid way to get out of a binding contract. That said, it is an argument that people make, so it is strongly advised to have both you and your ex obtain independent legal advice (and a document proving that you did so), so that if your ex wants to say they didn’t understand, you’ll have proof that they did get legal advice.

For a bit more information on what is involved in getting ‘Independent Legal Advice’, check out our blog: Why is my Nova Scotia bank requiring me to get “Independent Legal Advice”?

By: Anastacia DesLauriers – Lawyer

Have Questions For Us?:

If you have any questions about Family Matters you can call us at (902) 826-3070 or email us at info@highlanderlaw.ca to set up a meeting with one of our lawyers at our Tantallon law firm. You can also schedule a no commitment Family Matter Consult for $500+HST where you have the opportunity to explain your situation to a lawyer and get basic advice, including a written summary of your options, before deciding whether or not you'd like to retain us.

The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Nothing contained on this blog is legal advice or constitutes a legal opinion. While it is our goal to provide information which is current, legislative changes and court decisions, among other matters, may result in some information no longer being current or accurate. You should consult a lawyer before relying on any information. The views expressed herein by individual contributing lawyers posting entries to the blog are solely those of the authors and should not necessarily be attributed to or considered representative of the firm of Highlander Law Group Lawyers

What Happens to my Pet if I Divorce or Separate in Nova Scotia?

What Happens to my Pet if I Divorce or Separate in Nova Scotia?

In Nova Scotia animals are legally considered property. This may seem bizarre, as our furry friends have little in common with a lamp or table. There are some areas of Canadian law that treat animals more like living things. For example, the Criminal Code of Canada provides specific crimes for cruelty to animals and provides protections for police service animals, but for any other matters focusing on pets your Province’s personal property law will apply.

Read More

Spousal Support: Taking (some of) the mystery out of entitlement to support in Nova Scotia.

 Spousal Support: Taking (some of) the mystery out of entitlement to support in Nova Scotia.

Trying to determine whether or not you, or your spouse is entitled to spousal support upon separation can be confusing. That is because spousal support is a complicated subject that takes many different factors into account, so the answer may be very different depending on your circumstances.

Read More

Who Keeps Our Home After a Separation in Nova Scotia?

Who Keeps Our Home After a Separation in Nova Scotia?

Separation and divorce create uncertainty, especially in the early stages. The question of where you, and any children involved, are going to live is one of the biggest long term and short term decisions that you will make. So now what? You are separating, the whole point is that you do not want to live together anymore. And what about the kids, they still have school, you do not want to disrupt their lives any more than they already are.

Read More

Use a legal Separation Agreement to Re-finance Your Matrimonial Home in Nova Scotia for More

Use a legal Separation Agreement to Re-finance Your Matrimonial Home in Nova Scotia for More

For most families, the matrimonial home is the most significant asset they own. Deciding how to deal with it after the breakdown of the relationship is an important decision with long term consequences. Did you know, when refinancing as part of a separation, the spouse keeping the home may qualify to refinance at a higher percentage of the value of the home than the standard maximum. The standard maximum is 80%, but the maximum for a spousal buyout can be as high as 95%.

Read More

Consequences of Not Getting Legally Divorced in Nova Scotia.

Consequences of Not Getting Legally Divorced in Nova Scotia.

Many people who have been through a separation in Nova Scotia decide they will never get married again, so they think why bother getting divorced. While remarriage is one of the main reasons that long-term separated couples are motivated to get a divorce, there are some other important reasons you should consider.

Read More

Why is my Date of Separation Important?

Why is my Date of Separation Important?

In family law, the date of separation is a very significant date for two reasons. Most of the time, a couple will not be granted a divorce until they have been separated for one year. The other reason is that the debts and asset of a divorcing couple are generally divided based on the value they had on the date of separation.

Read More

How to Save Money during a Divorce

How to Save Money during a Divorce

Divorces and separations can be very expensive. During a separation, families may face new expenses for custody and access visits, outfitting a new apartment with furniture. Now add to that legal fees and court costs and it can be a very challenging time financially. Thankfully, there are some things you can do to reduce you expenses.

Read More

Planning For Your Separation

Planning For Your Separation

Gwyneth Paltrow made headlines when she publicaly discussed her conscious uncoupling with Chris Martin. Whatever you may think of her, there is something to the idea of putting some planning and thought to your separation. Arriving at the decision to separate is hard, and it can be overwhelming to think about the changes coming your way. Planning will not make the experience painless but there are some steps you can take that can make this major life transition go more smoothly.

Read More

Breaking Up is Hard to Do....Don't Make it Harder Than it Has To Be

Breaking Up is Hard to Do....Don't Make it Harder Than it Has To Be

The old song “Breaking up is hard to do” accurately summarizes what is a nearly universal experience. Almost everyone has gone through a tough break up at one time or another.  And whether you are married or not, it can be a truly awful time. The last thing anyone needs in the middle of a break-up is to have the conflict made worse by uncertainty about custody arrangements and how to divide your property. During a break-up, emotions are often all over the place and it’s easy to make bad decisions that have a lasting impact.

If you are in a common-law relationship, a useful tool to consider is a cohabitation agreement. Think of it as a prenuptial agreement for non-married couples. A cohabitation agreement allows you to determine in advance how you would divide your property in the event of a break-up.

Read More