When couples have been together for a long time and have built their lives as a unit, splitting assets can be tricky business. The rise of so-called "grey divorce" in Canada has also given rise to questions about complex asset division, as many of these splits are anything but straight-forward. Here is what Alberta individuals and couples should know about this growing trend, and what it can mean for the financial future of both parties.
Going on vacation can be a great way to relieve stress. Many Alberta individuals in the midst of a family law proceeding wish they could book a getaway, but there are legal considerations before jetting off. This is particularly true of those with children; even if the children are not coming on the trip, details like custody and legal ramifications should be considered. In most cases, waiting until after the family law dispute has concluded is the best option for those who wish to travel.
One of the biggest concerns parents have during a divorce is protecting their children's mental health and well-being. Decisions about child custody and support have real consequences for children, and in almost all cases a breakup between parents will mean major life changes for the children involved. One paradigm Alberta parents can use when approaching parenting during a divorce is to consider the children's "rights."
Divorce does not only involve the division of assets, but also the distribution of debts and, in some cases, future income. A family law dispute can cause a great deal of financial stress and can have a major impact on a person's credit if they are stuck carrying more debt than they can manage. Here are some tips for Alberta individuals, couples, and families looking to protect their credit in the case of a divorce.
For most divorcing couples, financial concerns are top-of-mind. The distribution of assets and future financial support make up the bulk of the family law process in most Alberta separations. Fortunately, there are preventative measures that can be taken to avoid an unfair or drawn-out break-up. The earlier these issues are discussed in a marriage, the easier the process will be.