Preparing for divorce financially

Many residents of British Columbia may aware of some of the expenses that can arise out of a divorce, but some may not have considered how these costs might affect a partner who is not employed. According to some commentators, a partner that is not employed during the marriage might not be able to pay for some of the costs necessary for attaining legal representation and securing an equitable settlement.

Determining the average cost of divorce can be very difficult, and for this reason, an unemployed spouse may need to plan ahead financially before filing for divorce. This might include opening a personal credit history that is not associated with the other party. Although a both parties might be entitled to receive a portion of the marital property as part of a settlement, the property division process can be expensive to negotiate.

In some cases, additional costs may appear without warning even after the initial divorce agreement is put into place, and one lawyer in Alberta emphasizes that every court trip will cost some amount of money. For example, travelling outside of the country requires approval from both spouses. If the other spouse fails to provide approval, the matter may be taken to court. However, this issue might be avoided if the couple signs a prearranged travel agreement.

While the process of divorce can be costly, the outcome may provide a more stable living situation for all of the parties involved. However, providing for a future after marriage during divorce negotiations can be difficult without professional help. A lawyer who is familiar with family law may be able to inform a client of his or her rights and obligations throughout divorce proceedings and may offer the client representation during hearings and negotiations with the other party.

Source: St. Albert Gazette , “Women need financial plan for divorce“.

Laughlin & Company Lawyers Mediators
2755 Lougheed Hwy #710, Port Coquitlam, BC V3B 5Y9
(604) 945-4370