The current economic crisis is rippling through all aspects of the lives of people from what they eat to wear or possess to the very nature of a divorce settlement. Ordinarily, a spouse is compelled to pay a certain amount of money based on income and assets, but in a world in which worth of Bank of America stocks declines from $50 a share to five cents, what a person possessed last February is not exactly what they have today. The Ontario Court of Appeals in Canada ruled that from now on, judges could consider the declining assets of a spouse in determining whether there is need to re-evaluate payment due for a spouse or children.
It is expected this will result in numerous cases being rethought in Canada as individuals struggle with divorce payments as their money goes down the tube. Nothing is sacred in the modern world, not even what you owe or what you should receive.