Child support is calculated based on the payer’s income and the number of children. Ontario uses standardized child support guidelines to calculate the amount payable, which takes into account the income of the paying spouse [...]
Yes, debts incurred during the marriage are typically divided equally between spouses. Just like assets, debts are shared in a divorce. In Ontario, any debts incurred during the marriage, including mortgages, loans, and credit card [...]
A financial planner can help you make informed decisions and ensure long-term financial stability. While it’s not mandatory to hire a financial planner, working with a Certified Divorce Financial Analyst (CDFA) can provide invaluable insights [...]
Divorce can trigger taxes on property division and affect support payments, but proper planning can minimize these effects. Divorce can have significant tax implications, especially when it comes to dividing assets like RRSPs, pensions, and [...]
Open financial communication and legal agreements are key to protecting your assets. Protecting your assets during a divorce starts with clear financial disclosure and, if possible, a negotiated settlement. Consider using mediation or working with [...]
Pensions are considered family property and are usually divided during a divorce. In Ontario, pensions are treated as family property under the Family Law Act, and their value is included in the net family property [...]
Assets are divided based on the net family property, which aims for equalization between spouses. In Ontario, the equalization of net family property ensures that both spouses leave the marriage with an equal share of [...]
You will need to provide full financial disclosure of all assets, liabilities, and income. In Ontario, financial disclosure is a crucial step in any divorce process. Both spouses must fill out a Financial Statement (Form [...]
Divorce significantly impacts your financial situation by altering your income, assets, and debt obligations. When going through a divorce in Ontario, one of the key considerations is the division of assets and debts accumulated during [...]
