Get Ready to Avoid Even More Big Money Mistakes in Your Separation or Divorce in Ontario!
You can’t afford to make these mistakes in your separation or divorce in Ontario.
I discussed some of these mistakes in a previous video.
Hi, my name is Thomas O’Malley. I’m an experienced family lawyer in Durham Region and the GTA.
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Here’s the other mistakes you must avoid in dealing with your finances in your separation or divorce:
4. Not Starting to Pay Child Support or Spousal Support If You Are Required To
Do That
One of the best ways to get a fair and reasonable separation agreement with your former spouse is to act reasonably and in good faith from the very start of your separation or divorce.
Part of acting reasonably is to pay the required amount of child support and spousal support depending on the facts of your situation.
Your family lawyer can advise you on whether you need to pay child support and spousal support. It certainly is based on the facts of your particular situation. For example, you would not pay full child support if you have your children for the half of the time.
5. Not Finding Out Your Legal Position For Your Finances
You need to get the advice of an experienced family lawyer on your rights and obligations about your financial situation in your separation or divorce.
Then you can start making plans about your future based on this legal advice and your current income and expenses.
You might have to change your lifestyle for a short period of time to adjust to your new situation after your separation or divorce.
However, you cannot make realistic plans for the future unless you understand your financial situation based on getting solid family law advice about your finances in your separation or divorce.
6. Not Giving Careful Consideration About What To Do With Your Home
You need to figure out what to do with your home. If you want to keep it, you need to see if you can refinance your mortgage so that you can buy out your spouse’s interest in the home.
You might have to sell your home based on your situation. You don’t need to decide what to do with your home immediately. However, you need to start giving this issue some careful thought.
7. Not Getting A Settlement Proposal to Your Former Spouse
You can start planning your financial future when you have a fair and reasonable separation agreement or signed court settlement agreement.
When you and your spouse have exchanged your key financial information and documents, you definitely need to your family lawyer to prepared a detailed settlement proposal to send to your former spouse.
This detailed settlement proposal includes dealing with the key financial issues in your case, especially child support, spousal support, and the property issues.
When you and your spouse have agreed to solving your family law issues with a signed separation agreement or court settlement, you can actually start moving on with your life.
By avoiding these 7 mistakes in dealing with your finances in your separation or divorce, you taking important steps to finalizing your separation or divorce more quickly and easily.
If you have any questions about your separation, divorce or family law case and you would like our help, feel free to contact me on my Facebook law office page, that’s O’Malley Family Law, or call me at 905-434-8837 and I’ll point in you in the right direction.
Click here to join my free Facebook GTA and Durham Region separation and divorce support group: GTA and Durham Region Separation and Divorce Support Group
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