2025-03-26
Retirement tips for every stage of life
Planning for a comfortable retirement requires careful preparation and strategic financial decisions.
Transfer Of Assets Prior To Bankruptcy
2011-06-22
When you file for bankruptcy , you will be swearing a Statement of Affairs. This form includes sworn information about the transfer of any assets in the last year/5 years. This is the same in Alberta as well as every other province. If you transferred your 1/2 interest in the camper for no consideration, it is something that the Trustee will have to review. It is possible that you will have to pay 1/2 of the fair market value of the camper into your bankruptcy estate. It will depend on when the transfer happened and whether or not your spouse paid you anything for the transfer. I am assuming that the camper wasn't your principal residence/house. You should review this with the Trustee during your initial meeting. Donna Carson, CGA, CIRP, Trustee Calgary and Central Alberta regions 1.877.500.0792 [email protected]
Latest Blog Posts
2025-03-10
Five great side hustles for making extra income
Whether you’re looking to pay off debt or save for the future, these five side hustles may be the financial boost you’re looking for.
2025-03-05
Two in five Newfoundland and Labradorians fear they may never be debt-free, acknowledge needing help, but are too embarrassed to seek it out
MNP Consumer Debt Index Lifestyle Debt Debt Solutions
According to a new survey conducted by Ipsos on behalf of MNP LTD, two in five Atlantic Canadians acknowledge they need help to get out of debt (43%).
