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March 2017 Archives

When possible, try settling a high asset divorce out of court

For a person whose marriage is about to end, it may be of some slight comfort to know that around 40 percent of marriages in Canada end in divorce. A divorce is not unique, nor something to spend too much time feeling badly about. It is, however, something that should be prepared for to avoid making financial mistakes. Anyone entering into a high asset divorce in Alberta may wish to consider some of the following tips for saving money.

Non-biological parents may still have to pay child support

Being a father can be a wonderful experience. The years of caring for and raising a child will leave a lifetime of memories. Imagine the heartbreak of a man finding out the child he thought was his son was not, in fact, his own issue. Yet, despite having no genetic connection to the child, that man might still be required to pay child support after the relationship with the mother ends. This very scenario recently played out in a Canadian courtroom.

Post-nuptial agreements may simplify a high asset divorce someday

The idea of getting divorced is rarely on the mind of the betrothed. Even married couples rarely think about it, at least they don't if things are going well between them. However, planning ahead for a possible divorce makes good sense, and could simplify the process of a high asset divorce should that ever need to happen.

Children may benefit emotionally from divorce mediation

Some marriages begin like a star; it starts with a spark, it catches fire and then it shines brightly. Unfortunately, many Alberta marriages end as stars do, either cooling off and fizzling out, or violently exploding. In the latter cases, emotions may be running hot and tempers flaring. While this is certainly not good for either party's emotional state, it may be even worse for their children. The solution may lie in following a few simple rules, and agreeing to divorce mediation.

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