Divorce is certainly an emotional and difficult process, particularly when it comes to spousal support and asset division. In this regard, you can negotiate these difficulties by speaking with an experienced Ottawa divorce lawyer. Here is a general primer on how property division and spousal support work in divorces in Ottawa.
Support from the Spouse
The goal of spousal support, commonly referred to as alimony, is to assist the lower-earning spouse in maintaining a decent standard of living. When calculating spousal support, a number of criteria are taken into account:
- Length of the Marriage: Longer marriages often result in longer periods of spousal support. The idea is to provide enough time for the lower-earning spouse to become financially independent.
- Income and Financial Resources: The court will evaluate both spouses’ incomes and financial resources to determine the need for support and the ability to pay.
- Age and Health of Both Spouses: If either spouse has health issues or is of an age that makes finding employment difficult, this will be taken into account.
- Contributions to the marriage: Both monetary and non-monetary contributions are taken into account, including childcare and housework.
- Living Standards Throughout the Marriage: This factor is strictly considered to preserve the same quality of living as was created throughout the marriage.
Depending upon the situation, spousal assistance may be either temporary or permanent. In order to provide the lower-earning spouse time to become financially independent, temporary support is typically given for a set amount of time. In cases where the lower-earning spouse is unable to sustain themselves because of their age, health, or other circumstances, permanent support may be provided.
Property Division
In Ottawa, property division follows the principle of equalization of net family property. This means that both spouses are entitled to an equal share of the marital assets and debts accumulated during the marriage. Here’s how the process works:
- Net Family Property (NFP): Each spouse calculates their NFP, which includes the total value of all property owned at the time of separation minus any debts and property that is excluded from division (such as inheritances or gifts).
- Equalization Payment: The spouse with the higher NFP may be required to make an equalization payment to the other spouse to ensure both parties receive an equal share of the marital property.
- Matrimonial Home: The matrimonial home is always considered a divisible asset, regardless of who owned it before the marriage. Both spouses have equal rights to reside in the matrimonial home during the divorce process unless a court order grants exclusive possession to one spouse.
- Excluded Property: Certain types of property are excluded from the equalization calculation, such as property acquired before the marriage, inheritances, and gifts from third parties.
Steps to Take
- Consult an Ottawa Divorce Lawyer: Seeking legal advice from a qualified professional is crucial. An Ottawa Divorce lawyer can help you understand your rights and guide you through the process.
- Gather Financial Documents: Collect all relevant financial documents, including bank statements, tax returns, property deeds, and any other records that show your financial situation.
- Negotiate a Settlement: Attempt to negotiate a fair settlement with your spouse, aiming to reach an agreement that is acceptable to both parties. Mediation can be a helpful tool in this process.
- File for Divorce: Once a settlement is reached, your lawyer will help you file the necessary paperwork to finalize the divorce.
Conclusion
Understanding the intricacies of spousal support and property division is essential for anyone going through a divorce in Ottawa. While the process can be complex, being informed and prepared can make it more manageable. Consulting with an experienced Ottawa Divorce lawyer can provide the necessary guidance and support to ensure a fair and equitable outcome.