Seven Things to Remember When Managing Your Finances During a Divorce

Stress can affect a person’s ability to think clearly, and one of the most stressful circumstances some will ever experience is a divorce. If you are in the process of filing for a divorce, although it may be challenging, it is crucial that you put emotions aside to focus on important matters such as your financial affairs.

Here are some things you should do to ensure you make wise financial decisions when going through a divorce:

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How is Debt Shared in a Divorce?

Money problems are one of the top five causes of divorce in Canada. It is no surprise then that financial matters are also often a cause of contention in a divorce. If you are going through a divorce, you may be wondering how the debt you accumulated during the marriage will be shared or if you will be left carrying your spouse’s debt.

Here are some things you should consider:

Joint debt vs individual debt

In a marriage,

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6 mins read

Differentiating a Common-Law Union From Marriage in Family Law

In the past, marriage was the most popular option for couples who intended to spend their lives with each other. Nowadays, other arrangements are becoming more and more common. One alternative that many couples choose is a common-law union. There are many similarities between a common-law union and a marriage. However, a marriage and a common-law relationship are recognized in different ways by family law in Toronto when deciding certain matters. If your relationship is thriving,

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5 mins read

Who Gets Custody of a Pet After Divorce?

In Canada, pets are considered property under the law. Therefore, although pet custody is a popular expression, the legal term is pet ownership. However, in most households, pets are viewed as part of the family. They may even be affected by a divorce. While a pet cannot express their feelings, being forced to separate from any of their family members can leave your pets with separation anxiety and depression.

If you and your spouse are going through a divorce,

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Can You Use a Mediator to File For a Divorce?

If you are going through a divorce, you may be exploring alternative dispute resolution methods. One option that you may have come across in your search is mediation. Can you finalize the terms of your divorce in mediation? The short answer is yes. However, whether mediator will be effective is dependent on the circumstances surrounding your divorce.

What is mediation?

During mediation, you and your spouse will meet with a divorce mediator whose aim is to help you resolve your issues without going to court.

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How to Create a Separation Agreement

A separation agreement is a written contract that outlines how couples who have decided to go their separate ways will deal with their issues. Even if you and your partner agree on how you will move forward with your separation, it is still important for you to have a separation agreement in place. A separation agreement can be used by married couples and those in common-law relationships. Married couples cannot get a divorce by creating a separation agreement.

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4 mins read

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