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November 2013 Archives

Value of NHL team included in divorce settlement

A Canadian National Hockey League team was recently part of a divorce settlement. The co-owner of the Canucks, one of the most profitable teams in the league, was in divorce settlement talks with his ex-wife, and the value of the team and Rogers Arena became part of the settlement agreement. According to the judge, the team and the arena were determined to have a value of $740 million, partially based on the real estate value of the arena property.

The division of pension credits when a marriage ends

In Alberta and across Canada, Canada Pension Plan benefits are split equally when a couple's marriage ends. If both parties worked during the marriage, the partner with more credits will transfer some of the credits to other person so that they both end up having the same amount of credits should they divorce. This pertains to all credits accumulated during a marriage. If one person, whether male or female, stayed home with children for any period of time, their lack of employment is considered, and the CPP benefits are adjusted accordingly.

What to know about splitting CPP credits

One of the most valuable assets that a Canadian spouse may have is his or her pension. Like most assets, pensions are subject to property division. However, these assets can be complex, and understanding how the split of pension credits works can help Alberta spouses plan better for the years after their divorce.

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