How to Manage Your Money After a Divorce
Our divorce lawyers in Barrie, Collingwood, Orillia, Midland, Muskoka and Newmarket have worked with a number of clients who faced financial struggles before and after a divorce.
However, a little bit of financial planning can go a long way—even when the future is unclear. That’s why The Financial Consumer Agency of Canada (FCAC) has produced a helpful free guide called Getting Separated or Divorced.
The guide outlines the financial decisions that need to be made, steps to take and things you should know about dividing property and debts.
“The new reality of less money, changes in your living arrangements and needing to take time to consult with lawyers, support services and financial institutions can be very stressful, financially and emotionally,” said Lucie Tedesco, FCAC Commissioner.
“A guide like this makes it easier to plan the next steps.”
The guide explains important issues, such as:
– How to separate your finances and the effect on your credit report
– Your options when making changes to your living arrangements, such as selling or keeping your home, the costs involved and qualifying for a mortgage on your own
– Ways to share your property and debts
If you have any questions, please don’t hesitate to contact one of our divorce lawyers in Newmarket, Barrie, Collingwood, Orillia, Midland, or Muskoka.