Your Guide to Form 13.1: Financial Statement for Property and Support Claims

What is Form 13.1?

Form 13.1 Financial Statement for Property and Claims is an Ontario Family Court form, and Sworn Statement. This form details the finances of each person in the separating couple and allows them to “get a lay of the land” so negotiations can be made fairly. This form is designed to protect each spouse during a separation negotiation.

When is Form 13.1 Used for Divorce or Separations? 

This form is used to prevent serious consequences that follow for failing to provide financial disclosure in Ontario family law. The court may issue orders to search for known hidden assets, freezing orders, transfer orders, or even accuse you of contempt of court proceedings. 

It’s important to be respectful of your ex-partner during this time, even if they’re delaying the process of your separation by not providing their relevant financial documents. You may find yourself in breach of civil and or criminal law if you search your ex-spouse’s private documents looking for relevant articles.

The Purpose of Financial Disclosure 

Financial disclosure is the part of a separation where the separating partners exchange information about their independent finances. Each person is required to complete what’s known as a financial disclosure form, like 13.1 from the Ontario Family Court, to determine the financial situation of each party.

At its core, financial disclosure is an opportunity for both parties to be honest about their financial situations, and requires the submission of supporting documentation that proves the amounts of things like savings, investments, pensions and any other assets.

Filling Out Form 13.1

Bank statements, credit reports, property deeds and other articles detailing your financial situation will have to be collected to support Form 13.1. The more thorough and accurate you can be during this phase, the more smoothly the rest of the financial disclosure process can go. 

Financial disclosure also requires you to declare the type of any debts and liabilities you’ve had at three key stages:

When, Then and Now

On the day you were married, “Then”: Under Ontario family law, when two people get married, each spouse becomes entitled to an equal share of the net family property accumulated during the marriage. These “profits” of the marriage are usually determined from the date you were married, until the date you and your spouse separated. 

On the day you separated, “When”: The value of assets and debts of a couple is usually determined as of the date of their separation. This is also why it is often called a “valuation date”. On this date, the “profits” of the marriage are determined. The separation date is also the date that support obligations often begin. The obligations may accrue from or be valued from this date in favor of whichever party is awarded support. 

How do you determine the date of separation? The Family Law Act (s. 4(1)) regards the “valuation date” as the date from which the parties separate without any reasonable prospect that they will resume cohabitation. For non-cohabiting couples, it is the date from which a reasonable person would believe the relationship is over, including whether the couple: 

• Shares the same room 
• Goes out together as a family 
• Eats meals together 
• Take vacations together 
• Have separated their finances 
• Report themselves as married or separated on their income tax returns 
• Tell other people they are separated or together. 

At the present moment in time, “Now”: According to Rules 13(3.2) & (3.3) of Ontario’s Family Law Rules, each spouse must make financial disclosures to the other spouse within 30 days of serving their divorce application or answer. The documents required for this disclosure are extensive and include the following: 

• Income tax returns and notices of assessment for the past 3 years 
• Most recent pay stub 
• Statement of performance-related pay
• Statements of bank, RRSP and investment accounts as at the date of separation and date of marriage 
• Statements on the type and number of shares held in any public company and several other documents. 
• It is important to be accurate in making these financial disclosures as courts do not look kindly on parties that try to hide their money. Parties that wish to have more control over how their finances are treated during divorce can choose to go through mediation instead. 

 How an Online Notary Public Can Help 

With all of the changes that are taking place during a separation, the last thing you’ll want to worry about is meeting a notary public to make sure your Sworn Statement is validated on time. An online notary public is a convenient way to notarize your Form 13.1- this process is secure, legal and the digital notary seal is recognized and accepted by Ontario courts.

NotaryPro’s Convenient Online Notary Services 

At NotaryPro, we’re able to help you get your document commissioned quickly and easily online. You’ll be able to find the official Form 13.1: Financial Statement for Property and Support Claims on our website. When you’re ready to complete your document, book an appointment with us online or in-person for prompt, friendly service.