Asset protection or debt management is a typical concern of spouses upon separation. Most spouses are worried about the preservation of their wealth or avoiding bankruptcy.
When people ask how they can protect their assets before divorce, the answer is multi-layered. In Ontario the law for property division is called Equalization of Net Family Property. Nothing can provide greater advance protection from the loss of assets through divorce than a Marriage Contract, before marriage or even during cohabitation.
Most divorce settlements are reached outside of court. The process starts with the exchange of financial information and the identification of all of the family’s assets and debts, leading to the negotiation of a divorce settlement and ending with a signed Separation Agreement.
Divorce can be a long and difficult process. So being prepared is crucial, especially for those that have complicated financial holdings.
At Benmor Family Law Group, our goal is to leave our clients in their most financially secure position following their divorce. Steve Benmor and his team of divorce professionals have been helping clients with: