Make a list of everything you and the other parent own or owe. This includes things like:

• Bank accounts, retirement savings, and investment accounts
• Property, cars, and any businesses
• Valuable items such as jewelry or artwork
• Debts like credit card balances, bills, loans, or mortgages

Having this list will help you understand your family's financial situation and is crucial for negotiating a fair division of property. If you don't have this information, you might end up not paying bills, losing services, or missing loan payments, which could put your vehicle or home at risk

It’s common for the money to be tight during and after a separation, simply because the same amount of income now has to support two households instead of one. 

A budget is a tool that puts you in control of your money to meet family needs and wants. It will show how much money you have, where it needs to go to meet your needs, and when you will be able to reach your goals. A budget puts you in control.

If you don't know much about what your family owns or owes, it could make it hard to divide things fairly when splitting up. It might be a good idea to get expert advice to figure out what you're responsible for and what you owe financially.

You might want to talk to your bank to figure out what to do with your accounts, especially if you're separating from your spouse. If you're dealing with debts, a credit counselor or financial advisor can help you understand your options for dealing with them. And if you're worried about taxes or want to protect your money, an accountant or lawyer can give you advice.

Negotiating a fair agreement can go a long way to reducing the financial stress parents and kids have. Each province and territory has their own property division rules so be sure to check your local laws and get legal advice.

You may need to take steps to protect property from being sold or borrowed against. This could involve canceling joint credit cards, moving valuable personal to somewhere safe and getting court orders to make property is maintained and not sold. It’s a good idea to get legal advice on what steps to take.

Fair child and spousal support agreements after separation are important because 

• They ensure financial stability and fairness for both parents involved
• They ensure that both parents contribute equitably to the financial well-being of any kids involved
• That each party is able to maintain a reasonable standard of living post-separation
• They can help reduce stress and conflict between the parties involved, promoting a healthier emotional environment for everyone, especially any kids affected by the separation.