Posted by TMichalos on May 13, 2015
As much as we’d all like to imagine spending our sunset years rocking on the front porch next to our longtime spouse, the sad truth is that life doesn’t always turn out that way. There’s no age limit on relationship troubles, and many seniors find themselves dealing with divorce at a time when they should […]
Categories: Divorce, Divorce Statistics, Financial
Posted by TMichalos on February 4, 2015
As if going through a divorce isn’t unpleasant enough, there are times, more often than most people realize, that you find yourself owing money to the tax man as a direct result of your divorce. It can happen in a number of different ways to BOTH spouses. Spousal Support Is Taxable Income First, for the […]
Categories: Financial
Posted by TMichalos on November 3, 2014
There is a common belief that by filing bankruptcy a person can “get out” of their obligation to pay alimony and child support. This is simply not true. Filing bankruptcy in Canada eliminates most unsecured debts. However there are certain debts that are specifically not discharged by the Bankruptcy and Insolvency Act and child and […]
Categories: Alimony, Child Support
Posted by TMichalos on September 18, 2014
It is not unusual for a couple to accumulate significant debts together that must be dealt with as part of their financial arrangements in a divorce or separation. There are, however, several things that you should be aware of before proceeding. In particular, it is important to know that a divorce or separation agreement will […]
Categories: Divorce, Financial, How to Divorce, Separation, Settlement
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