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Toronto Divorce Advice, Tips & Resources

Proof of income: What paying parents must disclose to determine child support

It has been a while since we discussed the determination of child support amounts and the kinds of documents the paying parent may be required to provide to the other parent and the court. Because certain rules apply to family court proceedings, and because a paying parent must make an accurate disclosure of income, it is important to have a family lawyer on your side to ensure that your rights are protected and that all of the relevant legal issues are addressed. A mistake in…

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Unfair divorce settlement could affect seniors well into retirement

In one of our posts from March, we discussed the upward trend of divorce among baby boomers and how separating seniors may have complex property division concerns. Dividing matrimonial property may be particularly complicated if either party has gone through a prior divorce or brought children into the marriage. A recent report on bankruptcy filings among seniors in Ontario underscores the importance of reaching a fair settlement in terms of property division at divorce. While the law states that matrimonial property should be divided equally…

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Are alimony payments taxable?

Recently we discussed the two ways in which spousal support is calculated in Canada: using the “with child support” formula or the “without child support” formula. Another matter to consider with regard to child support and alimony is taxes. Prior to May 1997, child support and spousal support were tax deductible by the payer and taxable to the recipient, but since then the rules have changed. Now, if child support is paid under a written divorce agreement or court order that was made after April…

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2 formulas for calculating spousal support amounts in Ontario

The federal Spousal Support Advisory Guidelines are commonly used to determine the amount and duration of spousal support to be paid. When using the guidelines’ formulas for calculating support, it is important that each party’s reported income is accurate. The guidelines are designed to generate a range of support amounts for a given situation, so really the guidelines provide a general starting point for deciding the amount to be paid. Two basic formulas are used to calculate spousal support payments in Ontario: the “with child…

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How does the matrimonial home factor into your divorce?

Ontario divorce law provides that divorcing spouses’ property will be divided down the middle so that each party receives an equal share of assets. The idea is simple, but the reality is that property division in Ontario is far more complex than a 50-50 split, especially with regard to the matrimonial home. Because each spouse is entitled to any increase in the value of matrimonial property, it is crucial to obtain an accurate valuation of assets. In some cases, it is also necessary to distinguish…

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Being proactive can help guard against debt at divorce

For an untold number of people, divorce results in financial strain. This may be especially true for parents whose marriage is ending. Suddenly you face the costs not only of finding and paying for a new home; many, if not all, of your children’s belongings may have to be duplicated for each household. During a time when you need to be focused on emotional healing and moving forward, you may be facing significant financial pressures. If this is your situation, then don’t hesitate to seek…

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