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Family law: Understanding costs important in divorce

It is no secret that divorce can be emotionally and financially challenging for both parties. Family law issues that are a catalyst for divorce proceedings involve more than just money. Nevertheless, the process is generally more difficult for those British Columbia residents who are unprepared to deal with the financial issues that arise when a marriage ends. 

The less one knows about personal and familial finances, the more difficult it can be to be prepared for a divorce. In many marriages, one spouse is less involved in the day-to-day finances of the family than the other one. This can set the stage for potential pitfalls once the divorce process is underway. 

Preparing a mid and post-divorce budget is helpful. Depending on the province where the couple lives, the costs for mediation and other options for resolving family law issues can vary widely. Being prepared for the financial cost of a divorce, not to mention transitioning into a single-budget household, can be one of the most important steps to take. The more prepared both individuals can be, the more smoothly the divorce is likely to go. 

Family law is complicated as it pertains to divorce, both here in British Columbia and elsewhere in Canada. Couples who are considering divorce as an option can benefit from the advice and assistance of dedicated divorce attorneys on both sides of the negotiation table. An expert opinion on a complicated topic can help to reduce costs and smooth the transition for both individuals into single life. 

Source: Financial Post, "Divorce is never easy and your heart may be broken, but that doesn't mean your wallet needs to be too", Melissa Leong, Accessed on July 23, 2017

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