Ep. 20 – Calling it quits! Going from shared to single finances
24m
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WealthBeing
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In most marriages, finances are often completely intertwined. Going from “ours” to “yours or mine” as part of a separation or divorce can be a thorny process. 38% of Canadians end their marriage every year, and this week, Travis and Derrick – along with our guest, Island Savings Senior Wealth Advisor, Chris Gerow –are going to simplify what you need to know about managing finances and assets while going through a separation or divorce.
2:30–Money Problem:When Travis’ client was ending her marriage, she was facing some complex financial decisions. She never needed to worry about the finances during her marriage – and now, she was solely responsible for her financial future.
4:30– Expert Examination:Travis, Derrick and Chris help you understand what you need to do, when to be cautious, and how to protect your pocketbook when splitting up your shared finances:
- How to identify which assets are worth fighting for.
- Avoiding emotional decision-making.
- Un-linking your accounts and investment assets at the right time.
- Creating your own credit.
- Safeguarding your income.
- Avoiding tax troubles.
- Special considerations for “grey” divorcees.
- Common financial disputes.
- Being a financially-savvy single.
23:00–Weekly Financial Fix:The first, critical step to simplify the process of your separation or divorce.
If you have an undiagnosed financial concern or want to better understand a financial subject, send Travis and Derrickyour question at islandsavings.ca/wealthbeing, or at [email protected], and we will consider it for a future episode.
The episode Ep. 20 – Calling it quits! Going from shared to single finances from the podcast WealthBeing has a duration of
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