Disclosure and Valuation Date - Matrimonial Property Act

1. Disclosure

1.1 Each person has to disclose any and all relevant information so that each person can make an informed decision or agreement on matrimonial property division. The Notice to Disclose sets out minimum disclosure but full disclosure can often go much further.

1.2 "Full disclosure" may vary from case to case, depending on the nature of the assets and liabilities and the nature of the claims.

1.3 Any documentation that supports any asset, debt or exemption must be provided to the other person.

1.4 You cannot rely on a document in trial unless it has been disclosed to the other person. Late disclosure has risks and may bear penalties.

1.5 Other ways of obtaining "full disclosure" are:

• to voluntarily provide it when negotiating

• to provide it in Collaboration or Mediation

• to provide it when formally requested pursuant to a Demand for Written Interrogatories

• to provide it pursuant to a request made in a "Questioning"

1.6 A Demand for Written Interrogatories is limited to 30 questions. The questions and answers are made under oath. Failure to respond within the required time frame (usually 30 days) can result in the Court ordering costs or other "penalty"

1.7 A "Questioning" is a formal process where you, your lawyer, the other person and their lawyer meet in a room with a Court reporter present. You are sworn to tell the truth. The other lawyer will ask you questions and ask you to provide documents at a later date (undertakings). A transcript of the session is produced by the Court Reporter. Questionings are very expensive -- they take considerable time -- you pay for your lawyer's time to prepare and attend the Questioning, as well as for the Court Reporter and ultimately a copy of the transcripts.

1.8 It is not enough for you to have knowledge of the disclosure and to have reviewed it. Your lawyer must also have the disclosure, and had an opportunity to review it.

2. Date of Division

2.1 In Alberta, the date of division of matrimonial property is the date of trial. Most people don't go to trial so from a practical perspective, it is the date you are negotiating or trying to resolve matters. This often means that valuation date is a moving target and updated disclosure is often necessary.

2.2 Where there have been lengthy separations, it gets very complicated.

2.3 In other jurisdictions, the legislation fixes the valuation date as the date of separation or the date the Statement of Claim was filed. In Alberta, it is a moving target.

2.4 You and your spouse can agree on any date you want to for valuation of assets. But you both have to agree.

2.5 Sometimes spouses agree to use different dates for some assets than others. Usually this is where there is a fundamental understanding that the assets are very different.

3. Court has discretion

3.1 Even though the current date is the proper date of division, the Court can also divide property that at was acquired when the parties were living separate and apart in a way they see fit.

© Marilyn Herrmann

This information was provided as a courtesy by Niblock & Company LLP for information purposes only and should not be taken as legal advice. You should not rely on, or take or fail to take any action based on this information. If you need legal advice, contact Niblock & Company LLP or a lawyer of your choice to obtain advice that is particular to your situation. The provision of this information does not create a solicitor/client relationship.