Writing Our Own Minutes of Settlement

Financial disclosure is a critical step in the process of negotiating a separation agreement and should not be skipped. Although you intend to share custody of the children, this does not automatically mean that no child support should be payable. Where the income level of both parents is comparable, an agreement stipulating that no child support is payable may be appropriate, however, where the parent's incomes differ, the parent with the higher income will likely have an obligation to pay a reduced amount of child support and a greater proportion of any special expenses, even when custody is shared. Financial disclosure will help ensure that the agreement you reach is fair and has a greater likelihood of standing up to any future challenge. Standard disclosure consists of each party's past 3 years of income tax returns and notices of assessment, and a recent paystub. You should consult a lawyer before finalizing your agreement and obtain independent legal advice​ because if you sign without a lawyer, it can be very hard to change that agreement in future!​