What assets can I keep?

Each province or territory has legislation that outlines assets that are exempt from seizure.

In BC, the exemptions are set out in the Court Order Enforcement Act. You are allowed to keep the following assets:
Household goods and furnishings up to $4,000
Tools of the trade up to $10,000
Equity in a motor vehicle up to $5,000 if there is no family maintenance debt
Equity in a motor vehicle up to $2,000 if there is a family maintenance debt
Equity in a home up to $12,000 in the Metro Vancouver Regional District and CRD $9,000 outside these areas
Certain insurance investments, where designated beneficiary is spouse, child, grandchild, or parent of the person whose life is insured, and,
RRSPs, except for contributions made in the previous twelve months.

In the Yukon Territory, exemptions are governed under the Exemptions Act.

Unencumbered household goods household furniture, utensils and equipment that are contained in and form part of the debtor’s permanent home;
Tools of the trade to a maximum value of $600;
Food, fuel and other necessaries of life required by the debtor and the family of the debtor for the next 12 months;
House and buildings occupied by the debtor and the lot on which they are situated to a maximum value of $3,000.00;
All necessary clothing and all required medical aids (of a debtor or a dependent);
Certain insurance investments, where designated beneficiary is spouse, child, grandchild, or parent of the person whose life is insured, and,
RRSPs, except for contributions made in the previous twelve months.

A list of the items you can keep can be found by clicking on the link below.