Have You Answered These Key Financial Questions to Protect Your Family Law Rights in Your Separation or Divorce?

Have You Answered These Key Financial Questions to Protect Your Family Law Rights in Your Separation or Divorce?

I’ve put together in this video the next five key financial question you must ask yourself during your separation or divorce in Ontario.

Hi, my name is Thomas O’Malley.  I’m an experienced family lawyer in Durham Region and the GTA.

Here’s the next 5 crucial questions to ask yourself during your separation or divorce:

1.     Do You Expect to Pay or Get Spousal Support?

If you have been married or living with your spouse for five years or longer, you might have to pay spousal support when you have a higher gross annual income than your spouse.

You need to review the Spousal Support Advisory Guidelines (called SSAG for short) to see if you have to pay spousal support to your former spouse and how much.

You should also review the SSAG to see if you will receive any spousal support from your former spouse based on a difference in your income levels and the length of your relationship or marriage.

2.  What Are You Going to Do with Your Home?

Your most valuable asset is usually your home.  Have you thought about what you want to do with your home?

Do you want to buy out your spouse’s interest in the home?  Does your spouse want to buy your interest in the home?  Or should the home be sold?

If you want to purchase your spouse’s interest in the home, you might have to get a new mortgage or financing to buy out your spouse’s interest.  Take some time to do your research on re-financing. 

3.     Have You Received the Advice of an Experienced Family Lawyer Yet?

You can quickly find yourself overwhelmed with the financial issues in your separation or divorce.

That’s why you need the advice of an experienced Ontario family lawyer to guide you on exactly how your can protect your family law rights when it comes to these difficult financial issues in your separation or divorce.

Your lawyer can help you with the financial aspects of your family law case so that you get a fair and reasonable settlement based on the facts of your situation.

4.    Have You Completed a Detailed Financial Statement?

You need to provide full financial disclosure to your former spouse by completing a detailed Financial Statement.

Your family lawyer will help you complete the Financial Statement.  

Your former spouse must provide you with a detailed Financial Statement as well.

5.  Have You Considered How You Will Settle the Financial Issues in Your Separation or Divorce?

You need to send a proposal to your former spouse on the specific terms on which you are willing to settle the financial issues in your separation or divorce.

Your family lawyer should actually draft a proposed settlement on the issues in your family law case after you have received full financial disclosure from your former spouse.

If you have any questions about your separation, divorce or family law case and you would like our help, there’s a few ways to contact our office.  

You can leave a message on my Facebook law office page, visit my website at www.canadiandivorcelegaladvice.com, or call me directly at 905-434-8837. 

We would be happy to speak to you.

Oh, by the way, did you know you can protect your family law rights and get essential information on settling your family law issues with your former spouse with the daily indispensable family law advice and tips at my FREE Facebook group? 

Click here to find out more: Durham Region Separation and Divorce Legal Support Group  

Thanks for watching this video.