To prepare yourself financially for a divorce, it's crucial to separate your finances from your spouse, understand your financial situation, create a budget, gather financial documents, review your estate plan, and potentially establish a new bank account are also essential steps.

Revenge spending and emotional financial decisions. How emotions drives spending, selling assets or refusing to cooperate financially.

Here’s a breakdown of revenge spending and emotion-driven financial decisions and how they impact financial stability:

Financial infidelity in a marriage—things like hidden debt, secret spending, or undisclosed investments—often comes to light during divorce, and it can have serious emotional and legal consequences. Here’s how these financial secrets are usually uncovered in the divorce process:

What happens if one spouse refuses to sell the marital home? When you are going through a divorce and you are at the stage of dividing the assets and property, sometimes you are not both in agreement to sell the marital home. There are several options available to you when the other spouse refuses to sell the home.

n British Columbia, an ex-spouse generally cannot claim a future inheritance that has not yet been received. A potential inheritance is considered a mere expectancy—meaning it’s not guaranteed—and therefore, it is not treated as family property under the Family Law Act. Until the inheritance is actually received, it does not form part of the assets to be divided during a separation or divorce.

Divorcing when both spouses co-own and work in the same business can be especially complex. Unlike other marital assets, a business is not just a financial entity—it’s often deeply tied to identity, livelihood, and long-term goals. When a couple decides to separate, figuring out what happens to the family business requires careful legal, financial, and emotional considerations.

Divorce can be an emotional rollercoaster, often bringing feelings of depression and anxiety. It is important to combat these feelings and regain emotional balance.

Divorce can be one of life’s most challenging events, and when a marital home is involved, the process becomes even more complicated. The home is often the largest shared asset, and selling it during a divorce requires careful planning and cooperation to avoid financial and emotional setbacks. Here’s how to protect your home sale from the messiness of divorce and ensure a smoother transition during this difficult time.

In a significant shift for the Canadian mortgage market, the Office of the Superintendent of Financial Institutions (OSFI) has announced that it will eliminate the stress test requirement for uninsured mortgages starting in November 2024. This change marks a departure from the stringent qualifying criteria that have been in place since 2018 and is aimed at providing more flexibility for borrowers and lenders in the face of evolving economic conditions.

In a divorce there are 3 options available to you and your spouse in regards to the marital home. You can either sell the home, one spouse buys out the other or you continue to co-own the home.