Tag: Divorce Settlements
Protecting Future Inheritances in Divorce Settlements
Understanding Divorce Settlements in Ontario
A divorce settlement in Ontario is a legally binding agreement or court order that outlines how separating spouses will resolve key issues following the breakdown of their marriage. A comprehensive settlement often addresses:
- Property Division – Determining how assets and debts will be split between spouses. This includes the matrimonial home, vehicles, investments, pensions, and personal property.
- Spousal Support – Establishing whether one spouse will provide financial support to the other, the amount, and the duration, based on factors such as length of marriage, roles during the relationship, and financial need.