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Divorce or separation can be an emotional and challenging time, and one of the most complicated aspects is dividing assets. Registered investments, such as pensions, RRSPs, and LIRAs, are often a significant part of a couple’s financial picture, and understanding how to divide them can be confusing.
So you are married or living together and one of you owns a property, and you are thinking about putting it in joint names. Tread carefully, this can be a minefield.
The word finance evokes so many emotions in people that it can stop you in your tracks. Add in the word divorce and it becomes debilitating to a lot of people. The basic fear of not knowing what the end result will be can create more havoc, conflict, time loss, and ultimately, higher costs to reach a resolution.
A growing trend in the divorce rates in Canada appears to be for middle age or older adults. Thus the term “grey divorce”.
A Certified Divorce Financial Advisor can help prepare budgets and provide education around this stage of planning.
The Prisoner’s Dilemma is a simple yet powerful thought experiment. Imagine two people, let’s call them Alice and Bob, who are accused of committing a crime together. They are arrested and placed in separate cells with no way to communicate.
When going through a Collaborative Family Law (CFL) process, it is important to have a team of professionals to support both parties in reaching a fair and equitable settlement. One key member of this team is the neutral financial professional.
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