Money & Divorce

By Donald Farber

Divorce is never pleasant as it typically brings out the worst in people. Neither party wants to take responsibility for the failure of the marriage and often try to finagle more money from each than they deserve. Be sure that you get the best advice as to your finances when you are thinking of divorcing your partner.

Your Home

It may be necessary to refinance your present mortgage when you are divorcing. There are plenty of mortgage lenders that don't consider child support a legitimate form of income. This can cause big budget problems as usually one partner remains in the matrimonial home with the children for a number of years and must keep up current mortgage payments.

Changing the Settlement

Even if you have both signed a financial agreement and your divorce or separation is in affect, the matter may not end there. Many times financial situations change over the course of time and you might need to revisit any agreements or orders especially if they link with maintenance.

This can affect not only the receiver, but the partner that is paying as well. Many orders that are deemed non-clean breaks typically have a clause that allows for a variation of an order within a given timeframe.

Guaranteeing that Agreements are Carried Out

Lots of people ignore and delay signing and carrying out any agreements that have been set. You may need to use enforcement proceedings in order to get the other to comply with said agreements. If your partner is delaying signing, the court will allow a judge to sign instead if a signature is not on paper in a given time frame. A judge may also sign when the other party refuses or delays in signing in the case of property sale.

Many times the payer will not pay the agreed upon amount for maintenance. The party that receives the maintenance can register an application with the Magistrate's Court. They will then deal with the defaulter by summons and can also go as far as allowing an Attachment of Earnings Order against their salary and wages.

After You Sign on the Dotted Line

Once your divorce is final or your separation papers have been signed, you don't have to worry that the agreements in place are set in stone. Many of the agreements and orders can be modified in the future to address new circumstances in which either party may engage. It is a sad fact that not every marriage is forever after, but it is important that one keeps a clear head about financial matters. Be sure you retain a knowledgeable lawyer or financial consultant to advise you in matters concerning money.

You can easily find a reputable lawyer to represent you by going online and doing a search or asking friends and family advice about whom you should use to represent you. Don't make foolish mistakes and take less than you deserve. Speak with a divorce lawyer as soon as possible so that you get what is due to you.

Donald Farber writes for the cheap life insurance website, LifeCover.ca. He is interested in [http://www.lifecover.ca/whole-life-insurance]whole of life assurance and other topics relating to this industry in Canada. If you have a question for him please visit his website for more information and drop him a line if needed.

Article Source: Money & Divorce
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