Best Certified Public Accountants in Montreal, QC

In the Province of Québec, matrimonial regimes play a pivotal role in determining the ownership and division of assets during marriage and in the event of divorce or separation. Understanding these regimes is crucial for couples to make informed decisions about their financial arrangements. This article explores the various matrimonial regimes in Québec and their impact on assets. 1. Partnership of Acquests: In the partnership of acquests, spouses jointly own all assets acquired during marriage. This includes both contributions made by each spouse and jointly accumulated assets. In case of divorce or separation, these assets are generally divided equally between the spouses. 2.Separation of Property: Under the separation of property regime, spouses retain ownership of the assets they bring into the marriage and those acquired individually during the marriage. In the event of divorce or separation, each spouse maintains exclusive rights to their respective assets, with no automatic equal division. 3. Family patrimony Family patrimony typically comprises four main categories of assets: the family residence, household furniture and appliances used for daily family life, vehicles used by the family, and pension plans or private and public retirement savings accumulated during the marriage including RRSP acconts. These assets are considered mandatory components of the family patrimony and are subject to division between spouses, regardless of any prior agreements or the specifi...