There are many reasons why parties to a marriage decide to seek divorce. Whatever the reason, once finalized there is usually a period of adjustment that parties must go through. In Canada, statistics indicate that approximately 40 percent of marriages eventually lead to divorce. One of the biggest adjustments individuals in this situation face is how to live on a new financial situation. This is…
In most all divorces in Ontario one of the matters that will need to be sorted throughout is whether a spouse will have to pay spousal or child support and, if so, how much. Before that can happen, a determination needs to be made regarding the spouse’s income. Recently a decision released by the Ontario Court of Appeal provides information regarding what may be considered…
There are many ways in which a divorce changes the life of those involved. In addition to physically splitting from one’s spouse, other things, such as time spent with children and assets, need to be divided as well. Depending on the specific financial situation of the divorcing couple, the assets that will need to be split will vary. Sometimes they include retirement plans. It is…
Though few couples that decide to have children together assume that they will breakup, it does of course happen. When it does, it is likely the custodial parent will seek child support from the other parent. This is true regardless of whether the couple was ever married. In Ontario, Child Support Guidelines are in place, which help determine how much those payments should be. Being…
The decision to end a marriage is one that most people in the greater Toronto area do not make lightly. For the best chance of securing a positive outcome financially, it is advisable to take certain steps. While the things we are talking about today pertain to both genders, they could be particularly helpful for women. The first thing is to make sure you have…