Toronto Star: Divorce Month is Here - Featuring Christopher Yu, Shulman & Partners

January is often described as a time for fresh starts, but for many couples, it marks the moment they finally confront an unhappy marriage. Commonly referred to as “divorce month,” January consistently sees a spike in separation and divorce inquiries following the holidays. Emotional strain, financial pressure, and extended time together can all bring long-standing issues to the surface. While divorce is inherently difficult, the financial implications can be just as overwhelming as the emotional ones. In this Toronto Star feature, Christopher Yu, Partner at Shulman & Partners LLP, offers practical guidance on how individuals can prepare financially before, during, and after a divorce. His insights focus on reducing uncertainty, avoiding common financial pitfalls, and approaching the process with clarity and foresight, particularly for Ontario families navigating separation during an already stressful time of year.

“Get a reasonable family lawyer who can guide you and direct you as to what you might expect to have to pay or receive, and do things as amicably as possible."
— Christopher Yu, Partner at Shulman & Partners LLP

The article explores why January has become synonymous with divorce and highlights the financial steps individuals should consider at each stage of the separation process. Christopher emphasizes that preparation is key. Before a divorce begins, he advises booking an initial consultation with a family lawyer to understand legal rights and obligations. Gathering financial documents early, such as tax returns, mortgage statements, pension information, and credit card records, can significantly reduce costs later and help individuals make informed decisions.

He also stresses the importance of understanding one’s full financial picture. This includes listing assets and debts, reviewing credit scores, and avoiding major purchases or new debt while divorce is being considered. These early steps are particularly important for spouses who may not have historically managed household finances and could be unaware of their credit standing.

During the divorce process, separation agreements play a critical role. While not legally required, having an agreement in place can streamline the divorce and prevent costly court proceedings. Christopher explains that in Ontario, property acquired during marriage is generally divided equally, including pensions and the matrimonial home. However, some assets, such as inheritances, may be excluded if they are properly kept separate. Once inherited funds are mixed with joint assets or used for shared expenses, that protection can be lost.

Debt division is another key issue. Christopher notes that debts incurred during marriage are typically shared, though extreme cases may justify unequal division. He also highlights the option of interim spousal or child support for individuals who need financial stability while negotiations are ongoing.

After divorce, Christopher advises clients to update wills, beneficiaries, insurance policies, and financial accounts. For those nearing retirement, separation can significantly affect long-term planning, especially if pensions or registered savings are divided. Throughout the process, he underscores the value of maintaining a cooperative approach. While emotions can run high, avoiding confrontation often leads to better financial outcomes and reduced stress for everyone involved.

Read the full Toronto Star article here (subscription may be required).

This media appearance is part of Shulman & Partners LLP’s ongoing contributions to Canadian family law discussions. Explore more of our media features in our In the Media  archive.