Our divorce lawyers in Barrie, Collingwood, Orillia, Midland, Muskoka and Newmarket have helped a number of couples separate their assets and work out a support agreement. However, becoming financially secure after a divorce can be a challenge for anyone.
According to recent research from TD Canada Trust, of those Canadians currently in, or recently in, a relationship:
- 72 per cent own a home together
- 68 per cent have a joint bank account
- 64 per cent have a joint financial plan
- 52% have a joint credit card
After years of sharing everything, many Canadians will face financial instability in the years following a divorce.
“Most Canadian couples are financially interdependent, and it is a real challenge trying to navigate the financial aftermath at the end of a relationship. Many people just aren’t prepared for the costs associated with divorce and how their lifestyles may change afterwards,” said John Tracy, Senior Vice President, TD Canada Trust.
TD Canada Trust offers a 6-point plan for people who are struggling to regain their financial footing after a divorce. You can access it by clicking here.