Simply, at the first meeting, it’s premature to be able to predict the final cost. There are unknown roadblocks such as the inability to recover important older bank documents which may cause delays, to be able to foresee the inevitable twists and turns which life brings to each of us. Consider the impact of the
Certainly! Silver separation or a grey divorce is common now as baby-boomers decide for many reasons such as economic and personal independence, belief in a better life ahead, or anticipating a long life yet to live as their parents are experiencing that it is time to strike a new path. For some it is the
Family Businesses are not only the lifeline for a family; they often integrate family members from both sides who perform a wide array of valuable responsibilities keeping the business profitable. Developing a shared understanding of how the business will operate during the family’s transition to two households is essential to keep positive cash flow. For
What we don’t know about can be frightening. Share good memories about the time when a difficult decision was made with a great result because of the help of trusted friends and knowledgeable professional. Consider the emotional tailspin you spouse may be in. Acknowledge that it may not a good time for your partner to
The families are assembling to celebrate and rejoice! The kids are graduating from kindergarten and grade school and high school and colleges and universities. Student loans to be settled and education and moving tax credits are ending. With new jobs come to new apartments. Child support obligations start to wind down as the children move
I was on a plane on my way from London, England back to Toronto, Canada. After the meal was served, my seatmate engaged me in the development of his risk management business. He explained that in his industry the identification of risks was the easy part. Most of his time was the anticipating and monitoring
The first question should focus on how you want to proceed. Here’s an example: Do you want to be heard about what matters to you? If this is an important issue for you, then consider staying away from choosing an approach like court where your ‘hired gun’ does all the talking. What does being heard
Going to court means giving permission to a complete stranger to make long term decisions about you and your family. The decision, including details of the family’s financial circumstances, may be published and accessible online. Separating from a spouse or partner may well be one of the most difficult traumatic, fearful experiences we go through.
If the invitations are being printed and table seating arrangements are being finalized, you would have already taken steps securing your personal and corporate wealth prior to your wedding. Not yet? It’s not too late if you start the process right now. Structure and Function Presenting a completed agreement at the height of wedding preparations
The welfare of the family may be financially dependent upon the health of the family business. In most cases, the collective goal of the family is to keep that enterprise thriving, growing, and profitable. When a family is going through a tough separation or divorce transition, there will be parallel and often intersecting interests: family
Imputing Income: 3 Responses to 3 Risky Scenarios Canadian child support legislation reiterates society’s desire to hold children’s welfare as the first financial priority for families upon separation. A tenant of that principle is the consistent treatment objective of the Child Support Guidelines (CSG). Both spouses earning the same income yet applying different tax treatments
Many former spouses signalled the end of their relationship with a negotiated separation agreement. The journey from date of separation to the signed agreement may have spawned a few months to a couple of years. Whether they were wise to retain legal counsel or perhaps we're not able to do so, each would have been
