Grey Divorce Poses Unique Financial Challenges — Are You Prepared?

I am Chair of the Family Law Group at Mills & Mills LLP and practice exclusively in the area of family law, with a particular focus on cases involving domestic violence and spousal abuse. Every month I send out a newsletter full of helpful tips, advice and insights that will help you navigate through family law challenges.

Leanne’s Divorcing Well podcast: Business valuations and income assessments

In divorces involving spouses who are business owners or self-employed, it can be challenging to calculate the net family property. In these situations, family lawyers often enlist the services of a business valuator to determine the actual numbers.

On a recent episode of my Divorcing Well podcast, I spoke with Wayne Rudson, president of Rudson Valuation Group, to discuss business valuations, income assessments and the techniques his firm leverages to discover undisclosed assets.

He says that in a family law proceeding, determining the value of a business isn’t as simple as looking at the financial statements, which show the book value of a company for accounting purposes.

If you are self-employed or a business owner in the process of divorce, you won’t want to miss this episode.

Listen on Apple or Spotify.

Understanding the financial implications of grey divorce

Bill and Melinda Gates are the poster couple for a trend we’re seeing more often in family law: a rise in divorce rates among Baby Boomers.

Whether it’s due to infidelity or simply growing apart over the years, research shows that divorce rates for adults aged 50 and older have roughly doubled in the last 20 years.

In my new post, I look at the financial implications of ending a marriage as you approach retirement. Transitioning from an intact couple under one roof to two separate households can have a significant impact on both spouses for the rest of their lives.

Read the blog

The Dish on Divorce: Set your blended family up for success

Erika Brown was 20 years old when she took on the role of stepmother to her husband’s four-year-old son.

Over the last 19 years, she’s learned a lot about what it takes to create a successful blended family — so much so that she’s writing a book about her experience, both as a stepparent and a stepchild.

In a recent episode of The Dish on Divorce, Brown told us that one lesson she wishes she learned earlier in her blended family journey is to focus less on what happens at the other parent’s house and more on what happens when the kids are under your roof.

She has so much useful advice on how to put the children’s needs front and centre and set your blended family up for success.

Catch the replay here and drop us a comment on what you would like to see in upcoming episodes.

Highlights from Instagram Live

Every week, I co-host an Instagram Live show with family lawyer Steve Benmor, where we discuss issues on the minds of divorced or divorcing spouses. Here are the topics from a couple of recent shows. Click on the link to check out the full episode.

Shared parenting

Many parents assume that, after they separate, the kids will live with one and spend weekends with the other. In reality, co-parents roughly split their time with the children.

Zoom divorce

Do you have an upcoming motion or conference in virtual family court? We break down everything you need to know about attending a family law conference over Zoom.

Serving clients during COVID-19

As we navigate the new normal amid the COVID-19 pandemic,
the safety and well-being of clients is my top priority. Social distancing is vital right now to prevent the spread of the virus so I will continue to work with clients through virtual meetings. If you have any questions or concerns about your family law matter or would like to schedule a meeting, please reach out to me by email.

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Looking for more information on what to expect during a divorce, abusive relationships, love and money, life after divorce or other family law topics? 

 

Check out the In the News and Blog sections of my website where there’s a wealth of great content to get you up to speed on everything you need to know.

Leanne Townsend, Family Lawyer

Partner, Brauti Thorning LLP
Brookfield Place161 Bay Street,
Suite 2900,
Toronto, ON M5J 2S1

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Leanne Townsend is a multifaceted entrepreneur and attorney experienced in the areas of family law and domestic violence. She provides a full range of family law legal services in addition to running workshops and other programs to support people as they go through divorce.

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