Is a deferred payment of past income a matrimonial asset?

Nova Scotia, Canada

The following excerpt is from Nova Scotia:

In Chaytor v. Chaytor [1994] N.S.J. No. 342, Scanlan J. stated: “[23] A deferred payment of past income is to be distinguished from payment for a lost of future income. If the Respondent’s entitlement was based on loss of future income such as a wrongful dismissal claim then I would not find that to be a matrimonial asset. The severance package in that case would be compensation for future losses to be incurred by the Respondent. In the present case the Respondent is not being compensated for lost future earning. The severance package is based on past service. It will be paid even though the Respondent will not suffer loss of future income. I find the severance package is in the nature of past savings and is a matrimonial asset subject to division.”

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