Tag Archives: hidden assets

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…

Contentious divorce serves as cautionary tale for Ontario spouses

Not every acrimonious divorce makes headlines — most people want to keep their private lives private. But when high assets are at stake, and either of the spouses is well known, there is a risk that the general public will take a particular interest in divorce proceedings. While there is certainly no shortage of media coverage of celebrity divorces, sometimes news of such matrimonial splits…

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…

Accounting for gifts and debts in a Toronto divorce

If you are going through divorce in Toronto, then it is important to know that the division of matrimonial property involves more than totaling up your cash and other assets. To reach a fair settlement, your divorce lawyer and financial advisors should take an in-depth look at your financial portfolio to identify all divisible property, debts and any property that should be excluded from division….

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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