Many individuals going through a divorce in their 20s and 30s assume the process will be straightforward, especially if they do not have a shared house or children yet. In reality, even seemingly simple break-ups can have their fair share of legal, financial and personal challenges. Here are some things to consider when working through an Alberta family law case earlier in life.
While some divorces are mutually agreed upon, many are initiated by one party. The other person may feel this is unfair, especially if they do not want the divorce themselves. However, the details of who chose to pursue a dissolution of marriage are typically unimportant in settling issues like property rights.
Even in a fairly amicable divorce, surprises and misconceptions can catch people off guard. Those undergoing the divorce mediation process in Alberta should be aware of some of the financial and legal issues that await them, such as the impact of spousal support and the challenges of disconnecting shared accounts. Here are some of the most common surprises for those who end a marriage.
A divorce can be challenging in many ways: emotional turmoil, family division, and financial stress to name a few. For the latter issue, it is a good idea to take steps to plan ahead with a rational mindset. Albertans going through the family law process can save themselves from serious financial problems down the road by following some simple but effective tips.
On the surface, declaring income for a divorce may seem relatively straight-forward. However, it often becomes a matter of far more than just presenting last year's tax return. For Alberta workers who must factor in commission, bonuses or even a job change, estimating and identifying income can become a challenge. It is important to consider how one's compensation structure could affect issues like child support, spousal support and division of assets.
There are many contentious issues that can arise during a divorce. However, when it comes to property rights, the family home is often at the centre of most battles. While some divorcing couples in Alberta choose to simply sell the home and part ways, others may choose to keep it. Deciding who will retain ownership of the home if it is not sold can be tricky business.
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.