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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.
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.
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