In this episode of Think Smart with TMFG, Rob McClelland and Mike Connon unpack the unavoidable financial challenges of divorce. They paint a detailed picture of financial complexities that couples should be aware of at the onset and conclusion of a divorce.
The episode offers a comprehensive probe into how divorce can impact different facets of life, from careers to businesses, and how crucially they tie into the finances of the separating couple. With child support, alimony, and distribution of assets at play, the financial landscape can become intricate.
Rob and Mike also touch on the division and distribution of properties post-divorce and the financial difficulties that can arise, especially for the less-earning party. The final discourse shifts to the sometimes forgotten victims of divorce- the children. The hosts discuss the complex aspects of support arrangements, their longevity, and the pressing need for a fair and clear agreement in child support matters.
With insights into estate planning, insurance, changes in wills and beneficiaries, and the importance of tax implications, this episode dives deep into how divorce impacts finances. And most importantly, it underscores a reliable financial advisor's essential role in navigating the tricky waters of separation and divorce.
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Episode 138: Do You Know More Than Your Financial Advisor?
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Episode 136: Global Diversification
Episode 135: Speculation vs. Investment
Episode 134: Poor Service Lately? Have Service Levels Finally Hit Rock Bottom?
Episode 133: The Canadian Real Estate Market: Is the Bubble Ever Going To Burst?
Episode 132: The Advisor Series with Daryn Form
Episode 131: The Advisor Series with Don Proteau
Episode 130: What Are Donor Advised Funds and How Do They Work
Episode 129: Fixed Income Returns Not Looking So Great?
Episode 128: Time to Simplify Your Finances and Buy an Electric Car
Episode 127: Time to Get on a Plane?
Episode 126: Global Wealth - Who Owns it All Anyway?
Episode 125: Top Performing Stocks
Episode 124: The Upcoming 2021 Canadian Election
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