The Divorce Act governs financial settlements including property division, support payments, and asset distribution
The Divorce Act establishes comprehensive guidelines for managing financial matters during divorce proceedings in Canada. This federal legislation works alongside provincial laws to ensure fair and equitable settlements.
Key financial aspects covered under the Act include:
- Property Division – Fair distribution of matrimonial assets and debts acquired during marriage
- Spousal Support – Financial assistance based on factors like income disparity, length of marriage, and economic disadvantages
- Child Support – Mandatory payments calculated using the Federal Child Support Guidelines
- Pension Rights – Division of pension benefits and retirement savings
The Act ensures that financial settlements consider each spouse’s contributions to the marriage, earning capacity, and future needs while protecting the best interests of any children involved.