While the law views a marriage as a partnership, some married couples have a similar view and as a result decide to run businesses together while married. When divorce is on the cards many couples are unsure whether to remain in business with their partners or dissolve the business entirely. This article will discuss some factors to take into consideration when deciding to stay in business with your ex-spouse.
A 2007 Census Bureau estimate showed that about 3.7 million businesses are owned by married couples, therefore, the implication is real in respect of divorce process when it comes to business owning couples being faced with complicated decisions, both business and personal, if they decide to end their marriage.
The easiest of all types of divorce is an uncontested divorce. An uncontested divorce is where the couple agrees on all issues relating to their divorce and this is when one spouse files an application for divorce and the other spouse does not file an answer. The spouse’s failure to file an answer is taken as being in agreement to the divorce filed; and he or she is not contesting the divorce and is in agreement with the divorce application. Therefore, one does not file for an uncontested divorce however, the divorce becomes uncontested if one spouse fails to file an answer to the divorce application of the other spouse within the required period of time.
SEPARATION AGREEMENT IN TORONTO
What is a Separation Agreement?
If you are contemplating a separation or are separated from your spouse or common-law partner, a domestic contract known as a ‘separation agreement’ may be drafted to make arrangements for issues such as:
- Division of Property (i.e. who gets to keep the car);
- Spousal support/spousal support releases and child support;
- The living arrangement of the children (i.e. custody and access).
- Parenting plans (i.e. religious issues, educational matters, travel etc.)
- Debts, pensions, medical/dental benefits, life insurance.
When filing an uncontested divorce in Ontario, there are two types of uncontested cases:
Uncontested Sole Divorce: When both spouses are in agreement about the divorce and do not oppose the divorce, either the husband or wife files the divorce papers with the court asking for the divorce. Once the papers are filed with the court, your spouse is served with the divorce papers. Your spouse then has 30 days to contest or challenge the divorce, or make a claim such as for support, property, custody, etc. If your spouse does not challenge the divorce within the required period, the divorce will proceed as “uncontested” and will be finalized by the Ontario court.