Categories
Search


Advanced Search
More Features

Newsletter
Sign up for our newsletter:
To learn more Click Here
Site Sponsors
Article Options
Popular Articles
  1. Brampton Board of Trade CEO leaving
  2. Brampton Youth Forum a Success
  3. Brampton City Council Abandons the Fight to Protect Natural Areas
  4. Peel Board Students Tackle Tough Legal Issues at Annual Mock Trial Tournament
  5. Stay the Course Action Lacks Stimulus
No popular articles found.
 »  Home  »  Business & Finance  »  Legal Issues  »  A Tactician's Guide to Separation and Divorce
A Tactician's Guide to Separation and Divorce
By Meredith Cox | Published  05/30/2006 | Legal Issues | Rating:
Meredith Cox
Meredith Cox is a senior associate in the Family Law Group at Lawrence, Lawrence, Stevenson LLP. With over 12 years experience in advising separating and divorcing clients, she has developed expertise in litigation and negotiation in the areas of property division, child and spousal support, custody and access and domestic contracts. Meredith is a member of the Peel-Halton Collaborative Family Law Practice Group and enjoys speaking to community groups and schools on various aspects of family law. http://www.lawrences.com/ 

View all articles by Meredith Cox
Divorce and separation can be very upsetting and disruptive to all aspects of your life, but with careful planning and organization, you can make the process a great deal easier on yourself.

Whether you are the "dumper" or the "dumpee", this kind of major lifestyle change can have an effect on your self-image. Divorce and separation cut to the very core of who we are. The good news is there are lots of things you can do to help yourself.It may sound like a lot of work at a time like this, but you need to take control of the key areas of your life:personal and professional, financial and legal.

Personal & Professional
*This is not a time to hibernate; stay connected with your trusted network of family, friends and professional contacts.

*Keep your skills updated so you can get a job or change jobs if necessary.

*Take care of your mental and physical health, nutrition and fitness.

Financial
*Stay organized.Gather all your financial records and make copies.

*Pay attention to monthly statements as they come in including investment accounts, bank accounts, lines of credit and credit cards.Is there anything out of the ordinary?Are the household bills current?

Legal
The following is a general overview of the most common issues that have to be resolved on separation or divorce:

*Will it be necessary to commence a court action or should you enter into negotiations leading to a separation agreement?

*Who will remain in possession of the family home or will the family home be sold?Who covers the expenses of the family home until it is sold?

*What will be the parenting arrangements for the children?

*What are the financial needs of the children?How will the obligations for child support be apportioned between the spouses?

*Is either spouse entitled to spousal support?

*What is the value of the assets and debts at the date of separation and at the date of marriage?Are there any special assets such as large gifts or inheritances?

*What is the difference in value of the net family property of each spouse and how will the equalization payment be made, i.e. in cash or by transfer of assets?

*Who are the beneficiaries under wills, RRSPs, life insurance policies?Will it be necessary to change the beneficiaries?

*Are there any joint tenancies and should they be severed?

*Is there any exposure for debts and should debt obligations be brought to an end?

*Are there any pension benefits and who will apply for the Canada Pension Plan credit?

Readers are cautioned against relying upon the brief statements in this article.Any editorial comments should not be taken as legal opinion.Inquiries with respect to separation or divorce should be addressed to a family lawyer.


How would you rate the quality of this article?
1 2 3 4 5
Poor Excellent

Verification:
Enter the security code shown below:
img


Add comment
Comments
  • Comment #1 (Posted by Arohani Dahri)
    Rating
    This article is excellent, because it has given all the necessary and important points to be remembered and prepared for that if you are in this type of position.
     
Submit Comment