Tag Archives: accurate valuation

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…

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…

No one wants to take a divorce to court, but doing so can give you leverage

Separated spouses understandably want to get through the divorce process as quickly and efficiently as possible. Even if very difficult decisions have to be made, the parties try to address their differences so that the emotional and financial strain, which is already heavy, is kept at a minimum. The spouses just want to move on with their lives and put the marriage behind them. This…

Property division concerns for divorcing boomers in Ontario

You may have seen the reports in recent years: the rate of divorce among baby boomers has risen significantly and appears to be still on the rise. According to Statistics Canada, in the 30 years leading up to 2011, the percentage of separated or divorced seniors who were 65 or older rose from 4 per cent to 12 per cent. However, for many boomers, the…

Equal contribution: What the law presumes about property division

When a couple divorces in Ontario, the law presumes that each party contributed equally to the marriage. This recognition of equal contribution is particularly important in matters of property division. The law also presumes that the value of matrimonial property, which is generally property that was acquired during the marriage and before separation, will be shared equally. Property that you owned prior to the marriage…

What you should know about disclosing income for child support in Ontario

Many divorcing parents in Toronto are able to reach out-of-court solutions with regard to child support. For example, mediation is one form of alternative dispute resolution that can help parents resolve their disputes while staying out of court. However, if you are unable to agree with your spouse about child support, then the best way of establishing a fair arrangement may be to take the…

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