Your Heart May Be Broken In Your Divorce; Don't Let Your Wallet Be

November 30, 2016

The average cost of an uncontested divorce in Canada is $1,845, but a contested divorce can cost anywhere from $6,145 to $87,974, with the average being $13,638, according to Canadian Lawyer’s 2015 legal fees survey. But this doesn’t factor in moving fees, new living expenses, the division of your assets and debts, and possibly child and spousal support.

 

In this blog posting Melissa Leong offers 13 tips to having a money smart divorce:

 

BEFORE THE DIVORCE

1. Educate yourself about your finances
2. Make yourself a budget
3. Check your emotions

4. Don’t do stupid sh*t that you’ll pay for later
5. Consider your options for the divorce process

 

DURING NEGOTIATIONS

6. Understand how much you may pay or receive in child support
7. Be aware that spousal support is not a given

8. When you split up, you split everything, including debt
9. Be mindful when choosing your half of the pie

10. Don’t anchor yourself to your home at all costs

11. Consult an expert about legal and financial issues
 

AFTER THE DIVORCE

12. Be aware and live within your means
13. Don’t be afraid to revisit the agreement terms

 

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