Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

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

Reply
 
Thread Tools
  #11  
Old 03-07-2020, 08:58 AM
backinthesaddle backinthesaddle is offline
Senior Member
 
Join Date: Apr 2017
Posts: 118
backinthesaddle is on a distinguished road
Default

With the exception of the adult child I would take this offer and run if I was him. If the adult child is so incapacitated they can apply for ODSP and get paid monthly by the government. His ex would also get a huge tax break looking after the adult child too if they are that dependent. This is not an ongoing support issue for a former spouse. If they go to court the house will certainly be half hers and 100k out of a lifelong pension is not much. I got well over 100k for a 14 yr marriage and I am much younger and have my own good pension as well but it was done fairly as I also stayed home for a few years. An acutary and/or pension administrator will give a family law value. If he has been working for their entire marriage he will be paying the max amount forever for spousal support. There will be no end to that. A judge most likely won't impute income for a 61 yr old. Pension credits aren't arguable usually and she can go after all is said and done and sort that out with CRA. Let us know what happens in court because it would appear that his lawyer isn't being straight up about what the law is. He can counter all he wants but a judge won't look kindly at anything less than the law given the length of the marriage and ages. They don't care about claims of emotional abuse or infidelity.
Reply With Quote
  #12  
Old 03-07-2020, 04:26 PM
canthisberight canthisberight is offline
Junior Member
 
Join Date: Sep 2018
Posts: 23
canthisberight is on a distinguished road
Default thanks

His daughter was denied odsp for the second time...and wont go to the appeal...does she need it, hard to say.

The lawyer in the settlement conference told them he would be silly to agree with their offer of signing house over nd the $100,000...I don't know...trying not to worry.
Reply With Quote
  #13  
Old 03-07-2020, 08:48 PM
alongjourney alongjourney is offline
Junior Member
 
Join Date: Feb 2020
Posts: 17
alongjourney is on a distinguished road
Default

Quote:
Originally Posted by canthisberight View Post
In exchange for him signing his half of the mortgage free house over, PLUS $100,000 from his pension...
What? So she would get her half that she is entitle to, in addition to his half? So he basically loses his half of the equity?
Reply With Quote
  #14  
Old 03-08-2020, 10:57 AM
Janus's Avatar
Janus Janus is offline
Senior Member
 
Join Date: Jul 2012
Posts: 2,353
Janus will become famous soon enoughJanus will become famous soon enough
Default

Quote:
Originally Posted by canthisberight View Post
Oh wait another fact, he will get the tax write off for paying it back monthly, is there any sort of write off if he does the lump sump..never even considered that...my payouts to my ex, mean I get a big refund
Lump sum spousal-support payments are not tax deductible.

When a judge orders a lump sum amount, they will usually explicitly lower the amount awarded to account for this.
Reply With Quote
  #15  
Old 03-08-2020, 11:00 AM
canthisberight canthisberight is offline
Junior Member
 
Join Date: Sep 2018
Posts: 23
canthisberight is on a distinguished road
Default

Quote:
Originally Posted by alongjourney View Post
What? So she would get her half that she is entitle to, in addition to his half? So he basically loses his half of the equity?
Yes in exchange for that....he never pays a cent in spousal support, but even the judge sys it would be foolish for him to do this, as he can retire in 2 years. And at that point her pension is much higher then his.
Reply With Quote
  #16  
Old 03-08-2020, 11:02 AM
canthisberight canthisberight is offline
Junior Member
 
Join Date: Sep 2018
Posts: 23
canthisberight is on a distinguished road
Default

Quote:
Originally Posted by Janus View Post
Lump sum spousal-support payments are not tax deductible.

When a judge orders a lump sum amount, they will usually explicitly lower the amount awarded to account for this.
Yes we did know this...and again this was offer 1
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Can my lawyer berate me? Holly Divorce & Family Law 8 07-11-2012 12:35 PM
Ditching Lawyer to Represent Myself Rhonda&Kids Divorce & Family Law 8 02-28-2010 12:33 PM
Lawyer out of town? What to do? Edward Divorce & Family Law 2 10-20-2009 08:46 AM
Sounds like my lawyer is gonna bail on me... sasha1 Divorce & Family Law 26 01-18-2006 06:13 PM


All times are GMT -4. The time now is 01:31 AM.