On June 5, 2012, the Globe and Mail published an article that discussed different areas of asset division that may become complicated during a separation and require the advice of a financial planner before finalizing an agreement.  The areas discussed include life insurance, pensions, real estate, tax and budgeting.  The article further discussed how a financial adviser may be helpful in each of these areas: Life insurance – policies that are not jointly owned can be cancelled or altered by one party.

Pension plans and work options – private pensions and work options, such as shares, may be complicated to value.Real Estate – properties other than the principal residence are subject to capital gains when there is a sale.Tax – where one spouse pays a lump sum to the other as part of asset division, or where funds are being transferred from registered funds, a financial adviser can help to find appropriate tax shelters for the investments.Budgeting – parties should ensure their settlement accounts for both present and future needs.

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