Financial Arrangements
When you separate, it is important for you (as
a spouse or parent) to know what to predict for the short
or long term. You will want to consider rights and obligations
for child support and spousal support. You will also want
to consider how to share the property and debts in a fair
manner. It is vital that you consult with legal counsel as
soon as possible in the separation to determine if certain
assets need to be preserved.
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 Guidelines
under the Divorce Act and the Family Relations Act require the
parent who spends less than 40% of the time with the child to
pay child support; the Guidelines are based on the paying parent's
gross annual income and may include a proportionate sharing
of special expenses such as childcare costs. (Follow
this link for examples) |
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in cases of hardship where the standard of living
of the receiving parent is higher than that of the paying parent,
or where a parent spends between 40 and 60 % of the time with
the child, the guideline amount may be reduced |
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liability for support of stepchildren commences
after one year of cohabitation and an application to Court must
be made within one year of the last contribution of support |
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liability for support of stepchildren may be
less than the guideline amount if another parent is able to
provide support |
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must be addressed if you are seeking a divorce |
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support provisions are enforceable by court Order
or by an Agreement filed to have the effect of a court Order |
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payments can be enforced by the Family
Maintenance Enforcement Program once an Order or Agreement is
registered with the Program, (Go
to FMEP here). |
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Based on the dependent spouse's need and the self-sufficient
spouse's ability to pay |
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(b) you both have the obligation to
try to be self-sufficient |
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liability for support of your common-law
spouse commences after one year of cohabitation and an application
to Court must be made within one year of the last contribution
of support |
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recognized by the Courts as a mechanism
to offset the negative impact of separation on the standard
of living of women (or men) who have foregone employment prospects
on account of their roles as homemakers and primary care givers
of children |
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Each married spouse has a right to a ½ interest
in the equity of the family assets |
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a family asset for married spouses
includes all assets used for a family purpose (including the
home, contents of home, RRSPs, savings, business interests,
pensions and CPP) |
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an interest in your spouse's pension
(life income upon retirement) may be more significant than the
interest in the family home |
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if you are married, you may be entitled
to reapportionment of the equity in your favour if that would
be fair under all the circumstances |
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if you are a common-law spouse, you
may have a right to a share of the equity of certain assets
depending on the length of the cohabitation |
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 A
fast and easy way to get help. GO |
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