What is the best way to protect my assets

March 20th, 2009 by Questions

I am consdiering living common law with my partner. He had declared bankruptcy and was discharged in MB in June/04. If he has any debt owing since that date (including backlog on utilities, etc.), do I become legally responsible once we are common law? What is the best way to protect my assets?

Posted from: Manitoba


One Response to “What is the best way to protect my assets”

, A licensed trustee said:

First, you do not become legally responsible for your spouses debts whether you are common-law or get married. You are only repsonsible for debts that are in your name.

You need to speak to a family lawyer in Manitoba regarding yuor assets – in Ontario assets are not shared in a common-law relationship *what’s your remains yours, what’s their’s remains theirs. I expect it is the same in Manitoba, but I’d ask a lawyer to be sure…

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)