Money Smart
Divorce Mediation

Financially Wise Separation Agreements

Gail Vaz-Oxlade's Guide To

For more than 20 years you have witnessed Gail Vaz-Oxlade’s trademark straight-up money wisdom, both on Radio and Television, most notably as host of TVs Till Debt Do Us Part, Princess and Money Moron. Gail is a multiple time, best-selling financial author, and one of the top Canadian authors of the past decade. Gail brings her common sense wisdom to answer your questions about CDFA’s and divorce in Ontario.

 

Gail Vaz-Oxlade's Guide To

For more than 20 years you have witnessed Gail Vaz-Oxlade’s trademark straight-up money wisdom, both on Radio and Television, most notably as host of TVs Till Debt Do Us Part, Princess and Money Moron. Gail is a multiple time, best-selling financial author, and one of the top Canadian authors of the past decade. Gail brings her common sense wisdom to answer your questions about CDFA’s and divorce in Ontario.

Gail Smile Transparent

What is a CDFA (Certified Divorce Financial Analyst)?

Imagine heading out for a night of dancing in your rain boots. Awkward. How about trying to shovel two feet of snow in stiletto heels. Ridiculous! And yet, every day, people ask their divorce lawyers to be their financial guides. It’s the wrong shoe and it just doesn’t fit. Let me introduce you to the right shoe: a Certified Divorce Financial Analyst, or by their acronym CDFA, for ease of fit.

So what exactly are CDFA’s? These are the people who are trained to deal with all the issues related to divorce and money. Going through a Gray Divorce and focused on retirement and estate planning? A CDFA can help. Vacillating between a lump-sum payout and on-going support? A CDFA can show you how options will impact you in the now and in the future. 

If you’re thinking to yourself, “Shouldn’t my lawyer be able to do this for me?” you’re so yesterday. Seriously. People who believe lawyers know it all are likely thinking that those running shoes they have go with everything!

Lawyers know the law. Divorce lawyers know divorce law. But dissolving a family and financial units requires more than just a legal eagle.  And in today’s turbulent financial climate, most people need a financial expert who can guide you since, regardless of what you’ve had written into your separation agreement, debts, inflation and the Income Tax Act will over-ride it.

Make Smart
Money Decisions
I'm not sure what to do?
I've never managed the money...
How do I plan for MY future?
Bag Lady Syndrome
(syn) or 'Street Guy Syndrome'
NOUN - The fear that one will become financially destitute after a divorce.
Family Mediation with a Financial Twist
“For most people divorce is less about legalities and more about finances, tax implications and making smart money decisions. This is why we started The Common Sense Divorce." – Gail Vaz-Oxlade

How is a certified divorce financial analyst different than a Lawyer?

Those nagging financial issues inherent to every divorce case are oftentimes the ones that are the most overlooked. CDFA’s are trained to answer questions like:

  • How much will it cost to keep the matrimonial home and can I afford it?
  • What are the tax liabilities of different assets?
  • How will my financial contributions after our date of separation be taken into account?
  • Will I have enough money to live?
  • How are pensions valued and how can they split in a way most beneficial for all?
  • How will our separation affect my children’s college tuition?
  • Should child support stop when my child reaches the age of majority?
  • How can we minimize the tax impact of support payments?
  • How should a business be valued and offset?
  • How can we create a budget and plan this separation to work within it?

If your aim is to “survive” your divorce, you’re aiming too low. You should not only want to untangle your life, you should want to create a solid foundation on which you can build a new life. And while it will cost money to engage a certified divorce financial analyst, when you do, you won’t have to second guess yourself. No need to ask, “Did I get enough?” or “Was that the right choice?” or “Should I have…” Every step you take is one you can take with confidence.

Lest you think a CDFA is only applicable to Gucci-wearing divorcees, that just ain’t so. Among the buy-one-get-one-half-off set, the division of assets has even more financial implications and a CDFA can make sure that you’ve got a kick-ass plan to get back to rights as fast as possible.

If you go into a divorce settlement with limited financial insights, your shortsightedness can have long-term consequences.  Settlements that seem, at first, to be fair and workable may not stand the test of time.  Your Certified Divorce Financial Analyst can show you how decisions you make today will affect the rest of your life.

GENERATE YOUR SEPARATION ANALYSIS REPORT

Every couple faces unique challenges.
Understand how separation will affect you,
your children, your finances and your future.

DO NOT BEGIN NEGOTIATIONS UNTIL

How a Certified Divorce Financial Analyst Can Help With Debt

Could I be on the hook for my spouse’s debts?

YES. Just as assets belong to the family, so do debts. Debt is one of the first things that must be addressed in a proper Separation Agreement. When it comes to divorce and money, it’s not enough for your partner to say that they will assume the debt… your name has to be removed from that debt also. And even if your partner is being reasonable about things, your creditors may not be as cooperative. That is why the financial ties must be severed sooner rather than later.

What does this mean?

When you divorce, it is your marriage that is ending, not your shared financial responsibilities. Even if your spouse accumulated debt during the marriage without your knowledge, you may be held responsible for it after the divorce. That is, of course, unless you take the proper and legal actions to sever all financial ties with your ex-spouse and safeguard your money.

What To Expect When You Call The Common Sense Divorce

Separation Agreement

Not everyone is ready to talk with someone in person.  You can call the Common Sense Divorce at anytime and hear a pre-recorded 2 min message about our services.

We will gladly take the time to speak with you about our services and the divorce process in Ontario.  The Common Sense Divorce offers a free 20 min telephone assessment and consultation.

We understand that this is a difficult time and calling us is a big step.  We are going to work hard to make this phone call easier, make you feel at ease and make sure that we respect your privacy.

We understand that you may be just researching and have not made any decisions.  We do not assume that because you are calling, that this means you are divorcing.

I’m afraid of my finances and I’m scared about money…

You should know the ugly truth first: even the most amicable divorce can leave you in financial ruin. Still, YOU are starting a new phase of your life and YOU need to manage your finances from this day forward.

You need to be aware of all the accounts you are responsible for, including bank accounts, mortgage loans, credit cards and utilities. You may or may not know how to pay bills, file your taxes or even balance a check book. Regardless its time to learn about divorce and money.

What does this mean?

If the mere mention of “finances” makes you groan, then The Common Sense Divorce will help you to learn how to create your own budget, manage your debt, and create a personal financial plan… from this day forward. Core to our Mediation and Collaborative processes is the services of a certified divorce financial analyst who is going to help you to start your new life on the right financial foot.

RESEARCHING?

Separation Agreements

Spousal Support

Family Mediation

Child Support

Divorce in Ontario

The Divorce Process

The Matrimonial Home

Amicable Divorce

Same Sex Divorce

Divorce And Your Money

Pension Valuations

Divorce and Taxes