Written by Alexander Beadie.
Many people come to our offices to learn the steps involved in separation. Practically speaking, there are necessary steps to take if you wish to document the terms of your separation from your spouse as part of a divorce.
In order to record the terms and conditions governing your separation with your spouse, it will be necessary for you both to sign a Separation Agreement. To arrive at an agreement regarding the division of property, arrangements relating to custody, access, the calculation of child support, or spousal support, or all of these things combined, it will first be necessary to complete a sworn financial statement. The financial statement will include reference to your T4 filings with the Canada Revenue Agency for the past three years. Also required will be the last three years’ Notices of Assessment together with pay stubs (if applicable) supporting your reported income. We also need proof of the value of all assets and proof of your debts.
Once your Financial Statement is complete, we will give this information to your spouse (or their legal representative) in exchange for the same information provided from your spouse.
This information is then used to complete a Net Family Property Statement for both of you. Finally, and based on these records, an equalization of the assets, debts and liabilities from the marriage is made through a payment by one spouse to the other. This ensures that both spouses equally share the increase in wealth during the marriage.
These initial steps must be completed so that arrangements regarding custody, access, child support and spousal support, where applicable, can be made fairly and in a legally binding manner.
At Galbraith Family Law, we have a staff of both law clerks and lawyers who are trained in helping you comply with these obligations in a cost effective and timely way. Put our experience to work for you.