Pattie Lovett-Reid: COVID-19 is not an excuse to live in divorce purgatory

How the pandemic is causing new problems for divorced parents After tensions rose during the first lockdown, many teens have requested to live with their other parent - a difficult process during COVID-19.

TORONTO — For decades a leading cause of divorce has been the conflict over money. Prior to the pandemic there were already households experiencing financial insecurity with conflicts over finances escalating. Add a pandemic and job loss, and some relationships are unwinding faster then they normally would. Stress levels are skyrocketing and the uncertainty about the future is weighing heavily on relationships.

The financial realities of a divorce are never great and can get very expensive, adding pressure to an already explosive situation.

This of course is a highly emotional time and can be a financially draining one. Here are a few ways to save money if divorce is your only option:

The pandemic has presented challenges for couples looking to get through this period without having to step into a courtroom. Virtual mediation is on the rise, supporting couples who want to work together to get through this and are willing to be open, honest and transparent about their financial situation.

For some, it is a leap of faith; for others, it is too emotional.

According to Renee Bauer, Bauer Law Group, LLC “If a couple is in the middle of a divorce, how quickly they want to get out the other side will depend on them. The pandemic has created an opportunity for parties to put aside the emotions that often drive litigation in exchange for cooperation because they have a unified goal – to not be held in divorce purgatory.”

The top financial issues however, can get messy and complicated. Shulman & Partners LLP have found;

The pandemic may have exposed vulnerabilities in your relationship you now realize are too challenging to overcome. If staying together is no longer the option you once hoped for, now is the time to put a plan in place and surrounded yourself with the right experts to answer the tough questions you have.