Olson v. Olson, (2005) 199 Man.R.(2d) 58 (QBM)

• Court: Court of Queen's Bench of Manitoba (Canada)
• Case Date: July 15, 2005
• Jurisdiction: Manitoba
• Citations: (2005), 199 Man.R.(2d) 58 (QBM);2005 MBQB 168

Olson v. Olson (2005), 199 Man.R.(2d) 58 (QBM)

MLB headnote and full text

Temp. Cite: [2005] Man.R.(2d) TBEd. NO.020

Louise Audrey Olson (petitioner) v. Peter Raymond Olson (respondent)

(FD 01-01-62320; 2005 MBQB 168)

Indexed As: Olson v. Olson

Manitoba Court of Queen's Bench

Winnipeg Centre

Sharp, Master

July 15, 2005.

Summary:

The parties separated. Pursuant to a consent order a reference was made to a Master for an accounting and valuation of the parties' assets and liabilities.

A Master of the Manitoba Court of Queen's Bench determined the accounting.

Family Law - Topic 880.32

Husband and wife - Marital property - Distribution orders - Particular property - Registered Retirement Savings Plans - The parties separated - A reference was made to a Master for an accounting and valuation of the parties' assets and liabilities - The husband claimed a deduction from the RRSPs he held as at the valuation date on account of taxes - A Master of the Manitoba Court of Queen's Bench allowed a 33 1/3% discount on the RRSP holdings of both parties - See paragraphs 51 to 54.

Family Law - Topic 955.1

Husband and wife - Marital property - Distribution orders - Practice - Reference to a Master - The parties separated - A reference was made to a Master for an accounting and valuation of the parties' assets and liabilities - A Master of the Manitoba Court of Queen's Bench stated that the objective of an accounting was essentially to take a snapshot of what assets the parties owned as at the valuation date and to determine what the value of each of those assets was at that date - The valuation to be applied to each asset was fair market value - The equalization of the assets pursuant to the Family Property Act was achieved through an accounting - The accounting process enabled separated couples to resolve their property issues in a methodical and measured way - The successful resolution of an accounting usually depended on the co-operation of the parties in making documentation available for the valuation of assets or with respect to the involvement of experts to value assets if documentation was insufficient - See paragraphs 3 to 7.

Family Law - Topic 955.1

Husband and wife - Marital property - Distribution orders - Practice - Reference to a Master - The parties separated - Pursuant to a consent order a reference was made to a Master for an accounting and valuation of the parties' assets and liabilities - A Master of the Manitoba Court of Queen's Bench stated that, according to Hyworon v. Hyworon (Man. C.A., unreported), income tax reassessments were to be included in an accounting even though the notices of reassessment were received after the separation, because the reassessment related to income earned before the separation - See paragraph 55.

Cases Noticed:

Isbister v. Isbister (1981), 11 Man.R.(2d) 353 (C.A.), refd to. [para. 6].

Abbott v. Abbott (1996), 111 Man.R.(2d) 105 (Q.B. Fam. Div.), refd to. [para. 6].

Gutheil v. Gutheil, [1983] M.J. No. 233 (Q.B.), refd to. [para. 51].

Stevenson v. Stevenson (1994), 95 Man.R.(2d) 288; 70 W.A.C. 288 (C.A.), refd to. [para. 52].

Johnson v. Johnson (1995), 101 Man.R.(2d) 164 (Q.B. Fam. Div.), refd to. [para. 53].

Authors and Works Noticed:

McLeod, James G., and Mamo, Alfred A., Matrimonial Property Law in Canada, pp. M-61 to M-65 [para. 51].

Counsel:

The petitioner, appeared in person;

The respondent, appeared in person.

This family property accounting was heard by Sharp, Master, of the Manitoba Court of Queen's Bench, Winnipeg Centre, who issued the following report on July 15, 2005.