Is my spousal RRSP rollover at risk if husband declares bankrupty?
I am in the process of negotiating my separation agreement. Because of plummeting stock prices, my husband has requested that the RRSP spousal rollover agreed upon in the agreement be delayed for a period of one year after signing in the hope that the stock market will improve during that time. Would my spousal RRSP rollover be protected by law should my husband declare bankruptcy after signing our separation agreement? He resides in B.C. but the separation agreement is based on Ontario Family Law.
Posted from: British Columbia
As of July 7, 2008 RRSPs contributrions that have been on deposit for more than 12 months are no longer seizable in bankruptcy. As long as the funds have been on depsoit for more than 12 months when he files they should not be affected.