Gail Vaz-Oxlade is author of 16 books on finances and best known in her role as host of TV’s Til Debt Do Us Part, Princess and Money Moron.
For most people divorce is less about legalities and more about kids, tax implications and making smart money decisions. Best-selling financial author Gail Vaz-Oxlade brings common sense wisdom to answer your questions about Separation Agreements and parenting plans Ontario.
Parenting Plans Ontario is the written legal document that outlines how you and your spouse, as co-parents, will raise your children after your separation or divorce. Your parenting plan will focus on such parenting arrangement as:
A good Parenting Plan is created first and foremost with the children’s interests and needs in mind. When negotiated and prepared properly, it will help to reduce conflict between you and your ex-spouse by setting out clear guidelines and expectations.
Every couple faces unique challenges.
Understand how separation will affect you,
your children, your finances and your future.
Child Support in Ontario must be calculated according to the Ontario Child Support Guidelines. Both parents maintain the responsibility of financially supporting their children and that support is based on your income and the number of children involved. Child support will continue until your children are 18 years old or until they have completed their post-secondary education.
In Ontario, the government has created an office called the Family Responsibility Office (FRO), which enforces support payments if necessary. The FRO will require paying parents to make all support payments to the FRO who will, in turn, send the payment to the other parent.
If any payments are missed, the Family Responsibility Office will take action to enforce the order or agreement which can include the garnishing of wages, registering a lien against a property, taking money from a bank account, ordering a collection, cancelling a passport or suspending a driver’s license.
“Research has proven that children cope better with their parents’ separation if parents co-operate while negotiating their settlement arrangements (as opposed to litigating) and while preparing their Parenting Plan.”