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Is a claim for an equalization payment in the form of an RRSP rollover extinguished by bankrupty ?

I am an Ontario resident. My husband lives in B.C. We are in the process of negotiating our separation agreement. Would my claim for an equalization payment in the form of an RRSP rollover be extinguished should my husband declare bankruptcy after signing the agreement? My lawyer says that in Ontario my claim would be extinguished by his bankruptcy.

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One Response to “Is a claim for an equalization payment in the form of an RRSP rollover extinguished by bankrupty ?”

A licensed trustee said...

We’re not lawyers so we can’t provide legal advice, but if your separation agreement is signed BEFORE he files for bankruptcy then your lawyer could argue that the RRSP vested with you at the time of signing and advance a trust claim against it – this has been done quite successfully before…