According to the January, 2013 edition of More magazine, almost 30% of women now make more money than their spouses. That translates to significantly higher number of women paying spousal support at the end of their relationship – enough to prompt the creation of the word “galimony” to describe these payments. The laws surrounding spousal support (found in the Divorce Act of Canada for legally married coupled and in the Maintenance and Custody Act for Nova Scotia residents who are unmarried) have not been significantly revised in many years. So the trend is being driven by the increased earning power of many women. A lawyer and a financial planner quoted in the article both comment on the shock and dismay their female clients express when they learn of their obligation to pay support.
No-one, male or female, wants to rollback their salary simply to avoid paying support. But there are steps that can be taken to reduce the risk:
-consider a cohabitation agreement or a marriage contract. While it is best to get one done prior to living under the same roof as your partner, it is legally possible to do one at any time. Having a contract does not guarantee you will be exempt from paying support, but it helps.
-avoid mingling gifts or inheritances with your family assets.
-don’t delay too long in making the decision to leave – typically, the longer the relationship, the longer you’ll pay support.
-see a family lawyer BEFORE beginning a business enterprise.
-strive to maintain an appropriate balance of responsibilities in your relationship, both monetary and non-monetary.
However, there are only two ways to guarantee you will never pay support – remain single forever or never separate!
