The Ultimate Separation Agreement Checklist Ontario
One of the toughest decisions you can ever make in your marriage is whether separation is the right move for you and your family. Nevertheless, once the two of you have reached a mutual agreement to go through with the separation, the next crucial step is carrying it out successfully. One of the ways to avoid misunderstanding and stress during this period is to prepare yourself in advance. One of the key tasks you and your partner need to complete before doing anything else is drafting a marital separation checklist. This will guide you through the whole process of legal separation. Here are some of the key components of this checklist.
Make a Decision Regarding The Children
Children embody one of the top issues that lead to protracted court cases between the two of you. This is why you need to take time and answer some questions about the kids:
- Who remains with the children?
- How will the other parent see them?
- How will the children be sustained?
- How will relatives of the non-resident parent see the children?
Once you are clear with the aspects above, you are ready to move onto the next difficult aspect of dissolution: finance.
Make Decisions Regarding Finance
After child disputes, the next difficult item is finance. Finance in this regard refers to all assets both of you own. Here are some pertinent questions you need to seek answers to:
- Are you going to lease, sell, or retain your family home? If you decide to keep it, who will live in it?
- Where is the non-resident partner going to live?
- How will you divide the property?
- How do you share savings and investments?
- How will each of you meet the costs of divorce?
- How is the mortgage going to be handled from now onwards?
- How are debts going to be handled?
Who to Inform About Change in Marital Status
Your marital status is an aspect taken seriously by a number of organizations in Canada. For instance, the tax office, utility companies, the local building society, the schools your kids attend, your bank, your credit card provider, your pension provider, and several others. Make a list of these organizations and plan on when you will visit or communicate with each of them.
Modify Joint Accounts
When you entered the marriage, you must have opened up a number of joint accounts. These operated in a way that each of you had to deposit some cash in the account every month. Well, you need to take your name off all these accounts because in case your spouse defaults in payment, then creditors will have a field-day knocking on your door.
Gather Records and Make Copies of Crucial Documents
As soon as you know that marital separation is inevitable, you need to collect all the documents crucial to the separation process and the post-separation period. These include copies of financial documents, bills, wills, trusts, marriage certificates, tax returns, birth certificates, as well as any agreements you entered into. Furthermore, take some time and obtain detailed accounts of recent activities on the accounts.
Hire A Lawyer!
This is one of the fundamental entries that need to be on the marital separation checklist. The whole separation process is daunting if you don’t have an expert to guide you through. Take your time to identify a suitable lawyer who can represent your interests without being compromised.
Important Note
Did you know that there is no such thing as “legal separation” in Canada? Instead, you are considered separated the moment you and your spouse start living apart. The legal term comes in when you are signing the pact that signifies that the two of you are ready to part ways. What does this tell you? Well, you don’t need to wait for a court action before you start preparing for marital separation!
Whether you need a divorce lawyer or family lawyer, at Fine & Associates we have the perfect lawyer for you. Contact us with any questions that you may have.