Is the division of property and assets always 50/50?
For couples who are starting the divorce process, they may believe that the division of assets and all property is always going to be 50/50. In some cases, this 50/50 division could greatly benefit one spouse but that doesn’t mean that same spouse contributed equal amounts to get the couple to their total assets and property. So, is the division of property and assets always 50/50 or can this...
Who Gets the Family Pet After Divorce?
Going through a divorce or separation is really difficult for everyone involved. Sometimes the hardest part is splitting up the assets accumulated during the relationship, but there are some things you can’t split evenly. That situation often occurs when a family has a pet, and both sides are attached to the pet, so they want to bring the pet to their new home. Who wants the pet? Chances are,...
How Getting A Divorce May Hurt Your Credit
You might be in for a rude shock if your credit rating is destroyed as the result of a divorce, but it can happen. It sometimes happens that a court will order one partner in a marriage to keep up with payments to creditors until the divorce decree is finally granted. But if your relationship is in tatters and communication with your partner is shot, how can you know if they’re keeping up with...
I Am in a Common Law Relationship: What Are My Property Rights?
Property Rights and Common Law Marriage in Ontario Common-law standing for couples in Ontario stipulates that the couple must have been living together in a “conjugal relationship” for no less than three years. But that timeline changes to just one year if the couple serves a parental role or is birth parents of a child. There is a long list of common law property rights guaranteed to...
Divorce Affects Pension Plans
Hard earned pension plans may be subject to division during a divorce. Dividing Assets is Tedious Building a life with another person is both rewarding and beneficial. However, when a relationship turns sour, it can also spoil years of combined progress and efforts towards a common goal. Couples frequently fight and argue over assets and property because of the perceived imbalance that leads...
Bankruptcy and Spousal Support
Spousal Support: A Debt that Cannot be Erased Following a divorce, many debtor spouses find themselves pinching pennies to make support payments. When Divorce Costs as Much as the Marriage Ceremony Divorce is expensive. It can often leave long-lasting financial problems for one or both parties. After a court grants a divorce and dissolves the legal bonds of marriage, debt obligations,...
Dividing Gifts During a Divorce
What’s Mine is Yours… Or, Is It? Dividing up gifts during divorce proceedings is not always an easy task. Amicable Settlements are Best for Both Parties Divorce is much more than a simple break up. After years of living together and building one life from two, splitting up can come down to splitting hairs over property, money, and personal belongings that each person believes are their own....
Separating Finances During a Divorce: How to Protect Family Inheritances
The average Canadian receives just under $100,000 from inheritances. That’s a good chunk of money that can go towards renovating the marital home or paying off debts. Depending on how the inheritance was used during the marriage, couples may disagree on how the asset should be divided during the divorce. Those who inherited money or assets may be at risk of losing a portion of it to...
Should Pets Be Treated Like Kids Under Canada Visitation Rights Law?
You can’t bear to think about starting over without the help of your furry best friend. During this divorce, you’re going to need everything they’ve got. Their unflappable loyalty, their silent understanding, and their unlimited affection. But should pets be treated like kids under Canada visitation rights law? You feel like your ex-spouse is going to try to take your pet in the divorce....