Financial Divorce Solutions
Financial Divorce Solutions                 
                                            & Family Mediation
Newsletter # 7                             New Year - New You?January  2013

We are now past the midway point of January, so how are you doing with all of your promises and the resolutions you made on January 1st?

If you are like most you have started to let old habits and behaviours creep back into your life.  Making changes can be difficult and in this month's issue I have asked a few financial experts to lend a helping hand to offer you their very best top tips. By working with professionals you are helping to ensure you don't fall into old habits and that the things you want for yourself and your family are kept on track.  Half the challenge is simply making the plan!

On a personal note, I am truly delighted to let you know that I am now a certified Family Mediator and well on my way to full accreditation.  

Presently, those living in Niagara are limited to very few options around the process for dealing with a marriage transition (separation and divorce).  We all know the litigation (going to court) route can be costly, slow and can create even greater relationship difficulties.  

Family Meditation is a voluntary process allowing both people the opportunity to be heard on all the various issues of concern.  The mediator (a neutral third party) focuses on the needs, wants, concerns and fears of each side, and together the couple create a mutually agreeable solution.  The final written document is taken for independent legal advice and the process is completed with less cost, stress and a better outcome.

For those dealing with a marriage breakdown consider Family Mediation to resolve your differences.

Best regards,

Gail Belchior
Owner / Financial Divorce Consultant
Family Mediator

PS  - If you or anyone in your family is planning on getting married or living together, watch the video clip by Kevin O'Leary on men, women, and money.  It is located in the sidebar section.

TALK TO YOUR ADVISOR                        
From Doyle Financial Solutions Inc.
Len Doyle, CFP, CHS, CPCA
Len Doyle, CFP, CHS, CPCA


A Few Tips:


1.  Most people realize the benefits of paying their mortgage bi-weekly. Use this concept of paying down debt.  Now use the same idea to build your savings/investments. Deposit to your TFSA or RRSP bi-weekly instead of monthly.


2.  Work with your financial advisor to determine if an RRSP or TFSA is most suitable for your situation.


3. Do you have a joint account with your mother or father?

Do you realize the magnifications if you separate from your spouse?

Do you realize the problems if you are in a car accident?


Talk to your advisor!    Click here for Len's contact information

Top 5 Things to Consider
 By Glavac Financial

 After a Separation or Divorce: 
  1. Work with a CFP, (Certified Financial Planner) to make short term and long term plans. Be careful how and where you get your advice from. Family and friends mean well but may not know the entire situation.
  2.  Update your will.
    Andy Glavac, CFP, EPC
  3.  Review your life insurance plans.
  4.  Set up a budget and stick to it. You are responsible for your own cash flow and you need to understand how to manage it
  5. Don't rush into anything, be patient. Things can and will change in a hurry.

Starting Over Top 5 Tips 

From The Financial Alliance Group (Niagara) Inc.


Richard Knabenschuh
Richard Knabenschuh, CFP, CHS, RCIS, CFSB, BA




Top 5 List of Financial Tips for everyone, but they are even more important when a couple splits and they have to start over as an individual and not as two.




Number 1 -  Have a written Financial Plan:  Too many individuals or couples spend more time planning their vacation or what they are having for dinner than they do their Financial Future.  As the old saying goes:  "People don't plan to fail, they just fail to plan!"


Number 2 -  Analyze Your Cash Flow:  Obviously, before any planning can really be implemented, a Family Balance Sheet should be completed.  Where does the money come from and where is it going every month.  Try to pay yourself first and then see what is left over to spend, not the other way around.


Number 3 - Start Saving Early:  The power of time and compound interest is amazing.  A 25-year-old who starts saving for retirement by investing $100 per month ($1,200 per year) will have a nest egg of close to $200,000 at age 65 (based on a constant 6% annual rate of return, compounded monthly). By contrast, if she starts saving at age 55, for only the last ten years of her career, she must invest approximately $1,215 per month ($14,580 per year) to match that same nest egg.  (A bonus tip, stay invested in the market and not try to jump in and out)

Number 4 -  Protect Your Earning Power:  The number one reason for mortgage foreclosures is that one of the homeowners suffered an illness and had no insurance protection.  Even after cashing out all their RRSP's etc, the high cost of being ill is an incredible strain on a families budget.  Have a complete Risk Analysis (Crash Test) of your current and future situation done.

Number 5 - Seek Professional Advice:  It has been proven in studies completed in Canada that those individuals/couples who had a relationship with an advisor were more likely to achieve their financial goals and have enough saved for retirement.  Work with an advisor who has Professional Designations (such as CFP, CLU, CHS) and represents more than one Institution.  They will provide objectivity, when emotions come to the forefront and will keep you updated when the government has made changes you need to be aware

Click here for Richard's contact information

In This Issue

Gail Belchior, Consultant
Gail Belchior, BA/BEd, PFP, FDS

1.  Keep track of inherited and gifted funds by holding them in individually named accounts.  If kept separate they do not form divisible property.
2.  To protect yourself and partner,  as well as safe guard your assets, use a marriage contract.
Getting married or moving in together - Watch this short video clip.
3.  Understand your rights and obligations by working with a family law professional using a process that best suits your needs.
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Thumbs Up Testimonials
Thumbs Up Testimonials
"Since meeting Gail at the Women in Leadership and Business Conference in 2012, I have been impressed with her dedication to her career and the love of helping others through her business Financial Divorce Solutions. 

Gail is driven, detail oriented and is enjoying growing her business through helping others in the community by aiding individuals going through very stressful times in divorce.


 Her professionalism, knowledge of services available and connections in the community are second to none. 

She has just recently completed the educational requirements for her Family Mediation Certification allowing her to expand the services offered through Financial Divorce Solutions and further assist those dealing with a marriage transition." 


President, YDV Group 

Save HST
If you are struggling with what to do next regarding your marriage transition situation please call Financial Divorce Solutions (905-892-4058) and book an appointment.  You will receive information on how to make decisions regarding support and division of property issues. 

For a small investment of your time and consultation fee you (with or without your partner) will be better prepared to move forward with the next steps.

This coupon is transferable, so if you know of a family member, friend, co-worker please pass along this information to them. 
Offer Expires: FEBRUARY 8, 2013