Whether one has a little money, or a lot, no one wants to waste it. However, that is often what happens when two people get a divorce. There are many ways to save money during the divorce process, and those who practice family law in Ontario are willing to share them.
The most basic tip many family law practitioners will offer is to try to stay out of court, if possible. Litigation can be time-consuming. The more time it consumes, the more money it costs. It is also more difficult to control the outcome of a litigated divorce. An agreement made outside a courtroom will often be more satisfactory.
Another suggestion is to have assets appraised by a professional. This can help prevent unnecessary arguing over valuation during asset division, and help make a fair split. Knowing ahead of time which assets can be divided will also hasten the process and help avoid surprises and arguments. It is also good to understand that a prenuptial agreement might not have the final say during division. If a judge sees financial circumstances have changed significantly since the signing, he or she may set the agreement aside and issue a new ruling.
Nothing about a divorce is going to be enjoyable, but there are ways of minimizing the stress and the cost. A good Ontario family law practitioner can help a person decide what the best way to proceed is, whether it be through mediation or another form of alternative dispute resolution. If litigation is the only option, that same lawyer will see to it his or her client's best interests are represented at all times.
Source: The Globe and Mail, "Note to wealthy people considering divorce: Stay out of court", Danielle Boudreau, March 20, 2017