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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1 (permalink)  
Old 07-30-2016, 05:22 PM
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Default When SS ends

So i have 2 options , one get an equalization payment paid out to me and pay SS for 7.5 years.
Or let go of the equalization payment and no more SS.
Now, i am self employed, so the income is variable.
The ex is cohabing with someone.
Now,
After 3 years of common-law, can SS stop?
If she gets married? Does it stop.
Her partner currently dismissed due to professional misconduct.

If my income is variable, does SS get calculated annually ?
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Old 07-30-2016, 07:47 PM
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Quote:
Originally Posted by abuseddad View Post
So i have 2 options , one get an equalization payment paid out to me and pay SS for 7.5 years.
Or let go of the equalization payment and no more SS.
If the SS has a firm end date, then to me it sounds like a straightforward calculation. Don't forget that SS is tax deductible when making those calculations. Also don't forget that if you are paying CS then SS is often lowered as a result.

Quote:
The ex is cohabing with someone.
Now,
After 3 years of common-law, can SS stop?
If she gets married? Does it stop.
You can owe SS for different reasons:

1) Marriage hurt her career, so you owe her for the income she has lost.
2) Marriage helped your career, so you owe her for her share of the income that you have gained
3) She sucks in life, and you owe her money because you have money.


Cohabitation only affects SS if it was granted under clause #3. If you have children, then SS is probably being granted under clause #1 because she took some time off work.

So, if you are paying SS due to #1, then nothing can really stop it except a termination date.

Quote:
Her partner currently dismissed due to professional misconduct.
That must be exciting!

It is completely irrelevant of course, but I'm sure you knew that and just wanted to mention it because it is kinda awesome.

Quote:
If my income is variable, does SS get calculated annually ?
Depends upon what you negotiate. Traditionally, unlike CS, SS is not calculated annually, but there is a lot of latitude when it comes to SS agreements. Offhand, if you have an end date of 7.5 years, it is unlikely that it will be adjusted. Note that this could be true even if you get fired, so be careful.
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Old 07-30-2016, 08:23 PM
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My case is definitely under clause #3. Because of income disparity, the judge recommended SS and CS from me at settlement conference.

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Old 07-30-2016, 09:02 PM
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I agree with Links in that it is important to have an end date. However, remember that most, if not all, SS arrangements can be reviewed due to a material change of circumstances. That is, something that happened that the two of you did not plan for at the time you made the agreement. So.... very important to have an agreement that covers everything you can imagine.... health, cohabitation, remarriage, inheritance, winning the lotto, losing jobs, etc. Your lawyer will explain this to you.

Go to CanLii and read cases about SS and use "material change of circumstances". There are many people on this forum who have negotiated pretty tight agreements.

In my situation it is absolutely stipulated that we exchange financial information yearly. My ex readily agreed to this but I know he regrets it today. Look at when a "review" of finances is appropriate. What that means is that you specify a date in the future (3, 5, 7 yrs or whatever) and this is when you can go to court and change SS without there having been a material change of circumstances.

SS is totally different than CS. If you were my son I'd recommend lump sum and a specific termination date with a very, very tight agreement that does not allow for any changes.

When you go in front of a judge in the future the judge places heavy consideration on what the "essence" of your agreement was at the time it was put into place. This is something that people fail, time and time again, to grasp.

If you are young and have a future of good earning potential then it might be worthwhile to consider walking away from the equity/equalisation and ending SS now. I can't see any fault being put on you in the future should your ex try to open up SS if you have a very well-written agreement.

7.5 yrs of SS may increase....

Last edited by arabian; 07-30-2016 at 09:12 PM.
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Old 07-30-2016, 09:18 PM
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you have startsd so many threads on the same topic

give a background of the situation first (or provide a link)

everything is grey in SS
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Old 07-30-2016, 09:32 PM
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Married 10 yrs with 2 young school-aged children. I don't know where the lawyer comes up with a 7.5 yr length for SS (probably made a deal with the other lawyer).

Age of parties would be relevant.

Last edited by arabian; 07-30-2016 at 09:36 PM.
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Old 07-31-2016, 12:35 AM
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Quote:
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My case is definitely under clause #3.
No it is not. You have kids.

Have you ever seen the news reports of those 20 year old drug dealer high school drop out types who get killed? They were always just about to turn around their life and become awesome when they were murdered.

That is how family law judges view mothers. Even if they have minimal education and are complete losers who have never held a job for more than a few weeks in their life, they were just about to earn $100,000 a year when maternity leave utterly wrecked their employment prospects for all time.

... so all mothers have less income than they should have, and all deserve spousal support. Generally, the only women who get need-based SS are those who didn't have kids. Your ex is a mother, she took some time off work, and it destroyed her forever. You have to pay for it. Her new partner is irrelevant.
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Old 07-31-2016, 12:58 AM
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She took Mat leave then went back to the same position. She is now (to my luck) declared surplus.

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Old 07-31-2016, 09:27 AM
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Please expand on "declared surplus"....

What sort of work did she do?
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Old 07-31-2016, 10:00 AM
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Ex is a teacher in a school board with variable employment status. One term half employed, the other term three quarters employed..etc

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