In Savage v. Savage, the Ontario Court of Appeal found that where a teacher retired at age 57 with a full pension, he did not retire to avoid paying spousal support. When he retired there was a portion of his pension that was equalized previously, and therefore not calculated for spousal support purposes as income, but also approximately $10,000 per year in pension income that was not equalized. In these circumstances, the court found that given the support recipient’s investment assets of over $500,000, there was no need for spousal support.
Before retiring or commencing a Motion to Change spousal support it is important to get advice early to analyze your and your former partner’s current financial situations and come up with a plan. Support payors must appreciate that obtaining legal advice and sound financial advice from a financial adviser before retiring is key to avoiding further legal conflict and expense.
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Our extensive expertise in resolving disputes through negotiation, mediation, arbitration, and litigation is known throughout southwestern Ontario. We represent clients throughout the litigation process, including through the trial and appeal.
If you have questions about your divorce or separation, spousal support, or questions about high income or high asset or property division contact Windsor family law lawyers Mary Fox, Tanya McNevin or Thomas MacKay today by calling 519-259-1820. We serve clients in Windsor, Tecumseh, Lasalle, Essex, Leamington, Kingsville, Belle River, Lakeshore, and throughout southern Ontario