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

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  #11  
Old 05-15-2020, 09:37 PM
ott_dad1 ott_dad1 is offline
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Wow, thanks for all the replies everyone. It sheds some light on this situation for me at least. I do think there are a few paths forward and it does look like my stock options may be safe as most of them are vesting after date of separation, but I will disclose that.

To the last poster's point, the idea of a lump sum is to create financial separation as quickly as possible. This means i only pay child support and then I'm no longer financially responsible for her once that obligation is met. I have no real attachment to the house or anything in it besides my kids, so I see that as a tool to go down that road given the equity built into it. I am more interested in moving on with my life as quickly and cleanly as I possibly can as I am sure many of you have been as well.

It does look like there are some benefits in paying monthly from a financial (tax) perspective, but then i have that constant payment hanging over my head for x years.
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Old 06-05-2020, 09:45 AM
Tbaga Tbaga is offline
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Quote:
Originally Posted by ott_dad1 View Post
Wow, thanks for all the replies everyone. It sheds some light on this situation for me at least. I do think there are a few paths forward and it does look like my stock options may be safe as most of them are vesting after date of separation, but I will disclose that.

To the last poster's point, the idea of a lump sum is to create financial separation as quickly as possible. This means i only pay child support and then I'm no longer financially responsible for her once that obligation is met. I have no real attachment to the house or anything in it besides my kids, so I see that as a tool to go down that road given the equity built into it. I am more interested in moving on with my life as quickly and cleanly as I possibly can as I am sure many of you have been as well.

It does look like there are some benefits in paying monthly from a financial (tax) perspective, but then i have that constant payment hanging over my head for x years.
Do not think for a moment that whatever spousal support arrangement you have will be final, even when at the moment meant to be that way. Your spouse can always come back in the future and ask the court for spousal support variation, or even initiate a new application for spousal support. Therefore, to reduce the chance of that happening in the future, and when it happens reduce your ex chance of succeeding, you will need to draft a very good, fair, and according to the Divorce Act and Ontario Family law act separation agreement. For that you will need the advice of two independent counsels, one representing you and one representing your ex. Make sure to both have full financial disclosure, independent counsel advice/witness, and a fair terms in the agreement. That will make it very difficult for her or the court to challenge the agreement in the future.
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