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Divorce

Divorce

Dealing with divorce


Regardless of the circumstances, parting ways with a spouse is emotionally and financially challenging. While the financial and legal realities of being newly single will be different for everyone, planning ahead can make what will undoubtedly be a painful time a little easier. And when it comes time to stand on your own, we'll be there to help you see the possibilities more clearly.

You won't have to do this alone - you can count on us to help you with:

  • Compromise and civility are key.

    During negotiations, it's important that you protect yourself, your future and that of your family during this process.

    • Seek trusted legal, financial and personal counsel to help consider the long-term impact of decisions being made
    • Separate your finances and get the bills sorted out to keep from damaging your credit. Make credit card balances a priority.
    • Work with your financial advisor and tax professional to minimize tax liabilities.
    • Know your retirement and government benefit options. You could be eligible to receive a portion of your spouse's benefits.
  • Start your new life in the right direction.

    Taking the time to plan for your new life can help make the transition much smoother and ensure that divorce does not derail your financial plan.

    • Get a handle on your finances and debt. Reassess your financial and retirement goals to ensure that they align with your short - and long-term goals.
    • Update fiduciary and beneficiary information. Immediately update your will, estate plan documents and beneficiaries information on insurance policies and retirement plans.
    • Establish your new identity. Make your name change official. Notify your employer and all provincial and federal agencies.