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Equalization Payments in Family Law
Family law often involves complex and emotionally charged financial decisions, among which equalization payments play a crucial role. Equalization payments refer to the monetary payments made between spouses during a divorce or separation to balance out the division of assets. There are several methods for satisfying equalization payments, and the court can place specific conditions to ensure the payment is fulfilled considering both spouses' financial situations.
Spousal Support: Quantum, Duration, and Lump-Sum Payments
When navigating a divorce or separation, understanding the intricacies of spousal support is crucial. Here, we'll delve into the concept of 'Quantum' and the structure of spousal support orders, including temporary orders and lump-sum payments
Lump-Sum Spousal Support
Courts possess the authority to order lump-sum spousal support under certain acts. Section 34(b) of the Ontario Family Law Act and Section 15.2 of the Divorce Act provide the legal basis for such orders. However, courts rarely exercise this authority. Some factors that could lead to a lump-sum spousal support order include relieving financial hardship, the payor's ability to make a lump sum payment without undermining future self-sufficiency, and the risk of non-payment of periodic payments.
Lump-Sum Child Support Payments: When and Why They May Be Appropriate
Child support is an essential duty owed by parents to their children, ensuring that their financial needs are met after a divorce or separation. Typically, child support is paid periodically, often in monthly installments. However, there are instances where a lump-sum payment, or a combination of lump-sum and periodic payments, may be allowed. These situations, though, carry the risk of being perceived as a redistribution of wealth rather than a support mechanism.