A Fresh Start…

A Financial Planning Checklist for Divorced Canadians

According to the Holmes & Rahe Stress Inventory, divorce is the second greatest life stressor that people can experience (death of a spouse is #1). Beyond the emotional implications of divorce there is a tremendous financial burden on all parties.

The financial burden may be more or less manageable for the divorcing spouses but in any case there are material short term costs & significant long term changes that must be properly managed to ensure that once the divorce agreement is behind you that your new financial situation is on sound footing. A critical aspect of gaining that sound footing is ensuring that your hard-earned savings are effectively divided & restructured to meet your long term needs & not simply overlooked as is often the case.

The purpose of this checklist is to provide an outline of many of the financial issues that should be addressed as a divorced person begins the next phase of their life. It is not intended as a do-it-yourself guide but as an outline to work through with the appropriate investment, accounting & legal advisors.