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Prepare for life after divorce by saving money now

With approximately 40 percent of marriages ending prematurely, no one facing the end of his or her own marriage should feel alone. Even the divorce rate among persons over 50 years old has risen to 10 percent in recent years. Older residents of Alberta may have more to lose in a divorce, as they have had longer to accrue marital assets. Naturally, everyone wants to hang on to as much financial security as possible, so here are some tips for pinching pennies during a divorce.

When child support is awarded after a divorce, it must paid

A married couple in Alberta may choose to end their emotional and legal commitment to each other if things aren't working out. Parents, however, share the enduring commitment to support their children, even after a divorce. This will likely include the ongoing payment of child support. Not only should such payments be a moral obligation, they are also a legal one, though there are those who try to ignore it. 

Can assets be held back during a divorce in Alberta?

The end of a marriage may bring with it uncertainty about the future. Either or both spouses may be wondering what life will look like after the proceedings are finalized, especially where finances are concerned. For any one of a number of reasons, a man or woman going through a divorce may consider holding back assets, especially things that had been held in secret. 

Tips for making smart financial choices during a divorce

When a marriage has run its course and two people choose to go their separate ways, it may be that neither of them fully understands the changes that are about to take place. In particular, the financial ramifications of divorce can be a lot with which to contend. By following a few tips, however, it may be possible to avoid some of the worst monetary pitfalls.

Divorce numbers rise after holidays end, study shows

December brings with it holiday celebrations for people of many faiths, and it is a time of family gatherings and fun for most Alberta families. It is also a stressful and emotional month for any man or woman who feels unhappy in one's marriage. For people considering divorce, this is the time when many feel an extra push to take action.

Judge rules pets are property during divorce hearing

Dividing up the marital assets can be a contentious process. In fact, deciding who gets what might be the hardest part of a divorce. Emotional attachment to particular items may make them difficult to part with. While most pet owners would not count their animal companions as possessions, a judge just east of Alberta recently ruled that the law sees them as such.

Many people delay divorce due to cost of independent living

The demographic group referred to as millennials are statistically less likely to choose an early marriage, preferring to wait until later in life than the previous generation did. Despite that, divorce or separation still happens to many couples. What many younger people have discovered, though, is that they may not be able to afford a life in Alberta without a partner.

During a divorce parents and kids may need professional help

Adults who choose to separate in Alberta know that they're in for an emotionally challenging time. For parents that get a divorce, there is the additional challenge of helping their children cope with the changes about to impact their lives. A new report from child care experts suggests ways that parents can support their kids during this difficult life event. 

Planning for divorce can start before the wedding

For happy newlyweds, or men and women who have recently gotten engaged in Alberta, the end of their relationship is probably the last thing on their minds. Divorce is never a happy subject, but ironically, it might be a very good idea to discuss the possibility while a relationship is still at its peak. Much like making retirement plans in the prime of life, divorce is an event that should be planned for well in advance.

When older couples divorce, the stakes are different

Though getting divorced sometimes offers a measure of relief, it can still be an unsettling process. Life may become very different for divorced men and women from what it was before. This is especially true for older adults and seniors after going through a divorce. Older men and women separating in Alberta will face a unique set of challenges.

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