Previous Page
Next Page

Divorce Blog

Unknown Finances After Divorce

By Karen Stewart

Andrew Allentuck recently wrote an article titled Divorced and Anxious at 59. He begins the article, writing, “In Alberta, a woman we’ll call Adele, 59, is adjusting to independent life after her divorce last year” and continues to give detail to her circumstances which include her career, children, property, assets, investments etc.

Allentuck does a great job on simplifying Adele’s evident finances and explaining why each finance is there or gets moved once she finalized a divorce, yet he fails to mention the hidden debt that is usually built up from divorce.

Allentuck explains Adele’s assets after divorce as such:

  • Expenses $5,200

Real Estate

  • Property tax $300
  • Mortgage $1,410


  • Car fuel & repairs $300


  • Food $400
  • Home & car insurance $235
  • Clothes, grooming $300
  • Entertainment $100
  • Charity & gifts $100
  • Restaurant $150
  • Travel $300
  • Misc $81

Other Basics

  • Utilities $325
  • Phone, cable, internet $160


  • Life insurance $114
  • Line of credit $500
  • Savings $425
  • Assets $1,373,638
  • Home $600,000
  • Car $15,000


  • RRSP $463,770
  • Annuity $281,218
  • Universal life insurance cash value $13,650
  • Liabilities $337,804
  • Home equity line of credit $63,200
  • Mortgage $274,604
  • Net Worth $1,035,834

When we think of divorce, we think of the division of assets just as Allentuck has. However, as already mentioned, there are unaccounted for and less evident costs to associate with divorce such as the cost of stress, which then leads to time away from work. The cost of lawyer the fee is also not included in the Allentuck’s breakdown.

Did you know that in a year of divorce, employees lose an average of 168 hours of work time? This occurs usually because a litigated divorce will likely last more than 3 years and will include time off to see lawyers, attend case conferences, court appearances etc.

For more details on how divorce influences the workplace, read Karen’s blog Divorce and its Economic Impact on Corporations.