Getting married, or committing to a common-law relationship, is a significant life decision. The strength and stability of the basis for such a permanent connection require different bricks to provide security. One of those is open conversations about money matters. The number of divorced couples who blame their breakups on financial disputes underscores the importance of such talks. While couple’s in British Columbia start their new shared lives as spouses, they might not realize that conversations about the division of property may follow soon if they fail to establish a firm financial understanding.

Advisors say stress and arguments about money can be avoided by discussing the following matters before the marriage or moving in together. Talk about the financial goals and expectations of each spouse. If one is frugal and avoids spending money while the other party loves restaurant meals and expensive clothes, disagreements are sure to follow if no agreements are reached in advance. The financial histories of each could be discussed, with full disclosure of the debts each party will bring into the relationship.

Each spouse must know the income of the other, and agreements about whether they will pool their incomes, or keep them separate is best resolved before the case is taken to child custody court. Couples who have no financial secrets and precise guidelines about how they will handle marital incomes and expenses are said to be less likely to disagree about money. Even those who are at different ends of the scale when it comes to financial personalities may be able to agree on workable money management plans for the family.

However, any British Columbia person who is the victim of a marriage that did not survive financial disputes may find that the division of property may be equally contentious. An experienced divorce lawyer may the appropriate person to provide support and guidance during this challenging time. A lawyer may even arrange divorce mediation that may help the spouses to agree on a settlement that will save time and money.

Lawyer Coquitlam, BC

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

Source: globalnews.ca, “5 financial facts every couple should know about their partner before getting married“, Dani-Elle Dube, Accessed on July 15, 2017

Following a divorce in British Columbia, circumstances often cause one of the former spouses to relocate. This could be difficult for children who may then have little contact with the parent who moved away. However, with the accessibility of the internet, it might be a good idea to work out a communication schedule for video calls as part of a child custody agreement.

A professor in another province has launched a study to evaluate the manners in which technology such as the internet could benefit parent-child relationships when distance or child custody rights is a problem. Data is being collected byways of a survey to study the pros and cons of FaceTime, Skype, and other communication technologies when it comes to dissolution of marriages. The objective of the study will be to build reference material for judges and lawyers, mental health professionals and others who deal with divorces and long-distance parenting.

While the study will provide conclusions, the professor predicts that these communication options will prove to be of significant value in maintaining relationships between parents and children who live far apart. However, she believes that the potential remains for children who were victims of abuse or domestic violence to be subjected to ongoing abuse and control via the avenues offered by this technology. For this reason, some control measures will have to be developed.

British Columbia parents who are separated by great distances from their children after divorce may want to establish an internet communication plan. With the help of an experienced family law attorney, the child custody agreement might be reviewed, and through further negotiations, both parents may establish a workable plan. The lawyer can present it to the family court, and if the court finds the arrangements to be in the best interests of the child, it may modify the existing court order.

Family Attorney Coquitlam

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

Source: FindLaw Canada, “Study will examine use of technology in child-parent communication during divorce and separation“, Alexia Kapralos, Accessed on June 2, 2017

When British Columbia couples consider divorce, it might be a good idea to sit down and discuss how mutual debts will be handled before the divorce is finalized, rather than waiting to face the consequences afterward. With agreements regarding the division of property in place, those issues will not be left to the discretion of the court.  In divorce, debts will be treated in the same way as assets.

However, creditors are not interested in a couple’s marital status, and regardless of what a family law court orders, banks hold responsible those in whose names the debts are registered. When a marriage ends, and one spouse moves out, there’s typically less income to meet expenses such as rent, utilities, grocery costs and more. One spouse may be left with the cost of maintaining the family home, while the other could have the additional burden of child and/or spousal support. This may lead to an inability to keep debt payments current.

It is often advised that couples should close joint accounts and open personal accounts before the divorce gets underway, but they may not be able to settle the outstanding balances to enable them to close certain credit card accounts. Although a divorce will physically separate a couple, debts may keep them connected for some time. One option may be to apply for two separate bank loans to settle debts before the divorce, but only if both parties can afford the loan payments that will follow.

Any British Columbia individual who is heading for a divorce can find an attorney who can provide valuable advice along with support and guidance throughout the process, including the division of property. If the debt level is excessive, the possibility of filing for bankruptcy might be considered. This may allow the person to have a fresh start — both financially and personally.

Contact Laughlin & Company Attorneys if the division of property is a concern for you.

Source: globalnews.ca, “Heartbroken and bankrupt: Why divorce can destroy your finances“, Erica Alini National, April 17, 2017

Lawyers in Port Coquitlam, BC

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

Disagreements related to finances cause a significant number of marital problems in British Columbia. Regardless of whether it is a high-asset divorce or a middle-income couple’s divorce, money often brings contempt. It has been suggested that many couples go for marriage counseling when financial counseling is what they really need.

The importance of having a money talk before the wedding is often emphasized. Not doing so could lead to disastrous consequences for couples with markedly different ideas about financial management. Some understanding and compromise will be necessary when two people from different socioeconomic backgrounds come together to share one budget. One may be a big spender while the other partner might have lived a life of saving and strict budgets.

Some advisors suggest that couples may do well to share the financial responsibilities and work together when budgeting and balancing finances to avoid any mistrust if only one spouse takes responsibility for managing family finances. Furthermore, many advise that a bank account for household expenses and other mutual financial obligations should be shared. It is often said that most financial problems in marriages stem from the lack of continuous open discussions about finances that ultimately lead to suspicion and doubt.

It is therefore not surprising that many divorces in British Columbia involve allegations of hidden assets by one of the spouses — especially if it is a high-asset divorce. The answer to such a situation would be to secure the services of an experienced legal aid attorney whose skills include the ability to seek and identify hidden assets. The attorney can protect the rights of his or her client and work to secure a fair and lasting divorce settlement.

Source: kiplinger.com, “5 Signs Couples Need Money Counseling“, Ash Toumayants, Accessed on April 14, 2017

Lawyer in Port Coquitlam

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

In British Columbia, child support obligations are not necessarily determined by paternity. A person whose name is on the birth certificate, who had taken care of a child as his own, can be assumed the father and held responsible for child support. However, in an unusual ruling, a British Columbia Superior Court judge recently declared a man free of any child support obligations.

A report indicates that a child was born after a couple had been married for three years. The man automatically accepted that he was the child’s father and cared for the boy. Three years later, under unknown circumstances, the husband learned that somebody else was the child’s father. The couple separated and, a year later, DNA testing confirmed that fact.

After another 15 months, the couple divorced, and the mother left their home province to relocate to British Columbia, telling the court she did not want child support because her ex-did not father the child. Reportedly, since their divorce in Sept. 2014, the couple had no contact — until Feb. last year when the mother suddenly demanded child support. She claimed the man acted as the child’s father until their divorce, but the man claimed to have had no contact since shortly after they separated.

The British Columbia Supreme Court judge ruled that it would be grossly unfair to order the father to pay child support after the essential misrepresentation of the facts by the mother. Any person in British Columbia who faces a similar problem may find answers and support by consulting with an experienced family law lawyer. Skilled legal counsel can assess the problem, suggest potential remedies and provide the necessary guidance throughout any legal proceedings.

Source: nationalpost.com, “B.C. woman who concealed her ex-husband was not the father of her son loses child support bid“, Keith Fraser, March 15, 2017

Need your family law questions answered free? Us at Laughlin Law can help you today! Call (604) 945-4370 for your free consultation.

Port Coquitlam, BC Lawyers

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

In many British Columbia marriages, one spouse would be in charge of the finances, leaving the other spouse vulnerable in the event of a divorce. The lack of financial skills and a comprehensive knowledge of the marital assets — especially in a high-asset divorce — can leave one spouse ignorant of the other’s attempts to hide assets. People in this position may want to question and examine the property declared by their soon-to-be ex.

Common ways for hiding assets include transferring mutual funds into personal accounts, or to friends who would pay it back after the divorce is finalized. It is possible to shield assets by the overpaying of income tax and arranging with an employer to postpone a promotion, salary raise or bonus. Payment of expected commissions can be delayed in a similar way. Another trick is to frequently withdraw small amounts of cash while grocery shopping because cash withdrawn at the checkout will show as part of the purchases on the receipt.

If the deceptive spouse owns a business, the opportunities to hide assets are even more. Some hold back on issuing invoices to clients, thereby creating false cash flow problems. It is also easy to record false expenses by pre-paying vendors, adding fake employees to the payroll and more. Augmenting business expenses by purchasing costly pieces of art or paying for exotic holiday packages can also reduce the value of marital assets.

It may be comforting for divorcing spouses to know that a seasoned British Columbia divorce lawyer will likely know where to look for concealed marital property. Experienced legal counsel will assist a client in gathering the necessary financial information. A lawyer with substantial work in commercial law will have the skills to understand multifaceted financial portfolios and know how to deal with business valuations and other intricacies of a high-asset divorce.

Source: aol.com, “10 Easy Ways to Hide Assets From Your Spouse“, Robert Pagliarini, Accessed on Feb. 3, 2017

Attorneys Port Coquitlam

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