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Question:

 

Moved to Alberta one year ago for work . Have changed over all my ID , etc to Ab .( previously MB ) . Currently have a RRIF type investment , left from previous pension. Was locked in + protected in Mb ...but it appears as though it is not protected under AB . law ?? Can that be used to pay down debts? Or signed over to a TRUSTEE should I decide on the bankruptcy option ? would prefer to avoid bankruptcy , if at all possible . Investment value is about $40000 , while debt is around $60000 total . Working full time, but have health problems ...ongoing .


From:

 

Grant Thornton Limited

Date:

 

Oct 29, 2014

Answer:

 

Hi The LIRA is exempt both federally and in Alberta, you can retain this asset if you file either a Consumer Proposal or a Bankruptcy assignment. Please give me a call or email me at marie.kozlowski@ca.gt.com and I would be happy to arrange a free consultation to discuss your options. Thanks for the question

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

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