February 2012 / 1 posts found

How to recover financially from divorce

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Right off the top, it’s important to acknowledge that there are no secret strategies for magically avoiding the financial impact of divorce. Divorce is difficult. You may lose half of your assets—or more—during the process of equalization. You may have ongoing spousal support or child support obligations to an ex-spouse. There can be differences from province to province, and equalization and support may depend on whether you were legally married or common law, or if you have children together. Divorce terms are sometimes the result of prolonged negotiation, or even contentious litigation, as opposed to a simple form or formula. […]