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Canadian Divorce Glossary
If you're considering ending your marriage, learning to speak the "language" of divorce in Canada is an important first step. Below you will find a brief glossary of terms related to the separation process. These definitions are overviews, provided to help you begin to understand what is involved in ending a marriage.
Joint Assets - Joint assets are assets, such as bank accounts, that are owned by both you and your spouse. Normally, you should consult with your lawyer as to the best way to deal with these assets. Otherwise, you run the risk of your spouse taking all of them. While you will eventually get your share of the joint assets, this can take a long time and cause you great financial difficulty.
Joint Debts - Joint debts are monies owed, such as on a credit card, by both you and your spouse. As with joint assets, you should consult with your lawyer as to the best way to deal with these joint debts. Otherwise, you run the risk of your spouse running up your credit cards and lines of credit.
Judgment - A judgment is a courtís final determination of your rights and obligations. It is also the legal document stating the reasons why the judge reached the decision he or she did.