In this episode of ThinkSmart, Financial Advisors Rob McClelland and Mike Connon discuss common divorce statistics. They also discuss, in-depth, the financial implications of divorce, including alimony, child support, legal fees, and changes in housing, retirement planning, and estate planning.
(00:48): The divorce rate in Canada
(02:37): What about second marriages?
(03:09): Stats on the reasons for divorce
(06:20): What can potentially put off divorce?
(08:00): Different types of separation and divorce agreements
(08:30): Your options if you want to stay with the same Advisory firm
(0:935): Prenuptial or cohabitation agreements
(10:35): Can you survive on divided assets?
(12:09): How does alimony, spousal and child support work?
(13:47): Tax implications
(15:54): Estate planning issues
(16:11): Lifestyle changes