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:

  1. Understand your financial situation. Know the value of your assets, income levels, expenditures and of course liabilities. Remember a divorce will result in an equalization of assets but your cost of living will go up when you have one person paying all the household expense instead of two.
  2. Settling out of court is another cost-saving measure. Mediation or negotiating a settlement helps to reduce legal fees, takes far less time and is a better return on investment.
  3. Check your emotions at the door. Decisions around assets like a home are always best addressed from a logical perspective.

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;




  1. For many couples, a house is normally considered one of the largest assets the couple will divide. Figuring out how this asset will be split, and determining whether to sell now or after divorce can be a contentious issue for both parties;
  2. Shulman and Partners also find those going through a divorce struggle with how to divide other assets accumulated during the marriage. This may include cottages, investments, or savings in bank accounts;
  3. There are also the added challenges of debt and deciding who is responsible for debts owed to creditors. If the debt was contractually taken out by both parties, both spouses would be responsible for the debt in the eyes of the creditor.


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.