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Handling third party bankruptcy, tax concerns in mediated settlements

Tuesday, February 13, 2018 @ 8:40 AM | By Lorne Wolfson

The breakdown of marriage is often accompanied by bankruptcy or insolvency issues. Often the marriage breakdown is a result of financial problems in the family; in some cases the causation is the reverse. Where one spouse has a business that is failing, the resulting financial and emotional pressures on the family often create overwhelming strains on the parties’ relationship. Where the family has been living beyond its means (a typical situation in many family law cases), the separation will significantly increase the financial pressures, since the...