This is going to be a question with a little more detail as I think my mom is going to get fleeced by my dad and I am completely angry at this whole situation...
I'll start off by saying that for 30 years, my mom was the good wife, bearing through some cheating and utterly ignorant as to the finances of our family. Suffice to say I never had a hard life, but in comparison to other families, we never went on trips, had recreational vehicles or did anything that cost money a a family. As a result of my dad's cheapness, I thought he had a huge nest egg. Turns out he is up to his eyeballs in debt with absolutely nothing to show for it. Utterly sad, and my mom and I are devastated, not only because of the financial state my mom will be left in, but also due to all of the lost memories. The life we could have had and didn't. What an assknob.
Basically imagine a woman who deserves everything. She is no gold digger and foolishly worked a very hard 15-30 hour a week job all through her marriage to pay for food to feed her self and her son (me) while her husband was making 150,000 a year (and, evidently, blowing it in casinos and on renovations to his mothers house in another province).
Anyway, I'll keep the following seperate so they can be addressed spereately...
1) when my Great grandmother died, mom put 80,000 into a 172000 house purchase. Since my mom took an inheritance (protected and seperate from the marriage) and put it into the matrimonial home, is it safe to assume that her 80,000 is unrecoupable to her?
2) my dad racked up a joint line of credit that my mom thought had a balance of zero, without her knowledge. Is she liable?
3) my dad got a loan in his name, without my mothers knowledge, which my mother and I recently found out is upwards of 50,000 (gambling). Is she liable?
4) my dad racked up a Visa (100% in his name) with upwards of 70,000 (thats right, seventy thou). Is my mom liable?
5) my mother is hoping to get half the house in court, and hopefully get the whole house if settled out of court. will the proceeds from this be wasted paying back debt that my dad accrued without her knowledge? He always kept her in the dark on these matters. We had nothing as a family because we thought he was saving, only to find out he was blowing it on (something???!!!)....
I am only involved because I am furious and my mom is devastated. I can't see my mom reduced to financial ruin when she did everything for me and supported this family while my dad was away for 90% of the marriage. I am so angry right now I could spit.
I was looking at the family law act on this matter and it says the following:
I feel that this case would satify the requirments for variation based on subsections (i) and (k) being that my father unreasonably dissipated the family assets, mostly in the last 3 years, and he accumulated this debt recently.
And movement here on these issues of equalization? It seems to me to be a total perversion of the law that a woman who's husband accumulated enormous debt, mostly in his own name, should be held accountable in any way shape or form.
I'll start off by saying that for 30 years, my mom was the good wife, bearing through some cheating and utterly ignorant as to the finances of our family. Suffice to say I never had a hard life, but in comparison to other families, we never went on trips, had recreational vehicles or did anything that cost money a a family. As a result of my dad's cheapness, I thought he had a huge nest egg. Turns out he is up to his eyeballs in debt with absolutely nothing to show for it. Utterly sad, and my mom and I are devastated, not only because of the financial state my mom will be left in, but also due to all of the lost memories. The life we could have had and didn't. What an assknob.
Basically imagine a woman who deserves everything. She is no gold digger and foolishly worked a very hard 15-30 hour a week job all through her marriage to pay for food to feed her self and her son (me) while her husband was making 150,000 a year (and, evidently, blowing it in casinos and on renovations to his mothers house in another province).
Anyway, I'll keep the following seperate so they can be addressed spereately...
1) when my Great grandmother died, mom put 80,000 into a 172000 house purchase. Since my mom took an inheritance (protected and seperate from the marriage) and put it into the matrimonial home, is it safe to assume that her 80,000 is unrecoupable to her?
2) my dad racked up a joint line of credit that my mom thought had a balance of zero, without her knowledge. Is she liable?
3) my dad got a loan in his name, without my mothers knowledge, which my mother and I recently found out is upwards of 50,000 (gambling). Is she liable?
4) my dad racked up a Visa (100% in his name) with upwards of 70,000 (thats right, seventy thou). Is my mom liable?
5) my mother is hoping to get half the house in court, and hopefully get the whole house if settled out of court. will the proceeds from this be wasted paying back debt that my dad accrued without her knowledge? He always kept her in the dark on these matters. We had nothing as a family because we thought he was saving, only to find out he was blowing it on (something???!!!)....
I am only involved because I am furious and my mom is devastated. I can't see my mom reduced to financial ruin when she did everything for me and supported this family while my dad was away for 90% of the marriage. I am so angry right now I could spit.
I was looking at the family law act on this matter and it says the following:
ariation of division
22. The court may make a division of matrimonial assets that is not equal where the court is satisfied that a division of these assets in equal shares would be grossly unjust or unconscionable taking into account the following factors:
(a) the income, earning capacity, property and other financial resources that each of the spouses has or is likely to have in the foreseeable future;
(b) the financial needs, obligations and responsibilities that each of the spouses has or is likely to have in the foreseeable future;
(c) the standard of living enjoyed by the spouses before the breakdown of the marriage;
(d) the age of each party;
(e) the duration of the marriage;
(f) a physical or mental disability of either of the spouses;
(g) the contributions made by each of the spouses to the welfare of the family, including a contribution made by a spouse in looking after the matrimonial home or caring for the family;
(h) the loss of a potential benefit to a spouse by reason of a dissolution or annulment of the marriage;
(i) the unreasonable impoverishment or dissipation of matrimonial assets by either of the spouses;
(j) the length of time that the spouses have lived separate and apart from each other during the marriage; or
(k) the date of acquisition of each matrimonial asset.
1988 c60 s22
22. The court may make a division of matrimonial assets that is not equal where the court is satisfied that a division of these assets in equal shares would be grossly unjust or unconscionable taking into account the following factors:
(a) the income, earning capacity, property and other financial resources that each of the spouses has or is likely to have in the foreseeable future;
(b) the financial needs, obligations and responsibilities that each of the spouses has or is likely to have in the foreseeable future;
(c) the standard of living enjoyed by the spouses before the breakdown of the marriage;
(d) the age of each party;
(e) the duration of the marriage;
(f) a physical or mental disability of either of the spouses;
(g) the contributions made by each of the spouses to the welfare of the family, including a contribution made by a spouse in looking after the matrimonial home or caring for the family;
(h) the loss of a potential benefit to a spouse by reason of a dissolution or annulment of the marriage;
(i) the unreasonable impoverishment or dissipation of matrimonial assets by either of the spouses;
(j) the length of time that the spouses have lived separate and apart from each other during the marriage; or
(k) the date of acquisition of each matrimonial asset.
1988 c60 s22
And movement here on these issues of equalization? It seems to me to be a total perversion of the law that a woman who's husband accumulated enormous debt, mostly in his own name, should be held accountable in any way shape or form.
Comment