How Your Heart Can Get You Into Financial Trouble

February 14th, 2013 by John Schuman

Podcast #8 – How Your Heart Can Get You Into Financial Trouble – Step Children and Matrimonial Homes (Special Valentines Day Edition).

This episode was a special live recording of a Valentines Day discussion of Family Law Issues. In light of the day, the topic of discussion was how your heart can get you into financial trouble under Ontario Family Law.

The discussion starts with a brief explanation of how property division works. It then moves on how property division works differently for matrimonial home and how that difference costs people money. The discussion then explores how a marriage contract or a family trust can avoid the problem.

The second way people can let their heart cost them money is by becoming a parent to step children. Step-Parents who are actively involved in parenting will have to pay child support for those children when the marriage breaks down -even if the biological parent is already paying support. this podcast covers how that happens, and how much support may have to be paid.

Of course, step-children will also have a right to continue to see any step-parent with whom they have a close relationship. In response to an audience members questions, there is a brief discussion of this topic as well.

This special Valentines Day edition of the podcast is essential listening for people who want to know what their heart can cost them.


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