Financial Disclosure in Canadian Divorce: What You Need to Know
Divorce can be one of the most challenging experiences in your life. It can lay bare a lot of your emotions, dashed hopes, and deeply-held fears – not to mention your finances. Financial disclosure is a mandatory step in the Canadian divorce process. Both spouses must provide a full and honest account of their financial situation, including income, assets, debts, and expenses. This...
Estate Planning After Divorce: What You Need to Know
Divorce is a life-changing event. It impacts your finances, your family relationships, and your social connections. It also derails the careful future plans you may have made with – and for – your spouse. One area that often gets overlooked in a divorce process, is estate planning. In this Blog, we’ll explore why post-divorce estate planning is critical, explain how Ontario law affects...
Divorce in Ontario: Buying Your Spouse Out of the House
Dividing assets during a divorce process in Ontario can be a complex process for most couples. This is especially true about their matrimonial home: It’s not only steeped in memories, but usually represents a couple’s most valuable marital asset. This means the decision on what happens to it is not merely emotional, but also important from a legal and financial standpoint. One common...
Starting a Business Before Your Divorce is Final: What You Need to Know
Starting a new business is an exciting venture at any time in life. But if you’re in the midst of a divorce, you might be wondering how it might affect things. Let’s start with a key point: There’s nothing to prevent you from starting a business now – in fact, Canadian divorce law is structured to help former spouses move on quickly with their separate lives – but there are a few legal and...
Received an Early Inheritance? Learn How to Protect it in a Divorce
Early inheritances are becoming more routine lately, and are coming up for discussion in families more often. Perhaps your aging parents have earmarked some Estate funds for you, and are thinking about putting them in your hands now, before their inevitable passing. That way, you can enjoy it sooner rather than later. This kind of unexpected windfall can provide you with a significant...
My Spouse Died After We Separated. What Happens to All Our Assets & Debts?
If you’re separated but not divorced, and your spouse suddenly dies, it can add an unexpected layer of complexity to the process of divorce, which is already an emotional and challenging situation. You may wonder how your spouse’s death will affect the division of your marital assets and liabilities, particularly if things weren’t fully settled before they passed away. Understanding how...
Canadian Family Law 101: Property Acquired After Separation – But Before Divorce
Most married couples will be familiar with a basic principle of Canadian Family Law: That any assets they acquired during the marriage are subject to an equalization process upon separation and divorce. In Ontario, that process is governed by the provincial Family Law Act, R.S.O. 1990, c. F.3 (FLA). But what about property that one of them acquired after their separation date? For example,...
“Exclusive Possession” of Your Matrimonial Home: What Does it Mean?
Many of you might know that under the Ontario Family Law Act (FLA), your matrimonial home has special status once you decide to separate from and divorce your spouse. At that point, your matrimonial home (defined as every property that “was at the time of separation ordinarily occupied by the person and his or her spouse as their family residence”) is subject to special rules governing how it...
How Does Adultery Affect Divorce Under Canadian Law?
Has your spouse been unfaithful? Are you considering a divorce? If so, you might be wondering how your spouse’s adultery affects your own legal rights. Here are some of the key points you should know. Adultery is one of the grounds for getting a divorce in Canada. Under the federal Divorce Act, you are only eligible to divorce if you can show there has been a “breakdown of the marriage”. That...