Financial Divorce Solutions
Financial Divorce Solutions                 
For a Better Outcome
Newsletter                                  Black Stripes
Newsletter # 9                             TAX PAIN - TAX GAINMARCH  2013


For this month's e-newsletter I've reached out again to more tax experts to help keep you informed.  Often during a separation, tax consequences are a forgotten consideration regarding equalization and support payments.

Additionally, I've included more about the alternate dispute resolution process called Family Mediation.  Once you know the marriage is over you will need to decide what to do next, either together or as an individual.  The next steps you take have a definite impact on the amount of time, money and stress you will experience as you move forward.

A separation is a promise of a new start.  I encourage you to reach out to family law professionals, like Financial Divorce Solutions for a Better Outcome.
 
Best regards,
Gail Belchior
Owner / Financial Divorce Consultant
Family Mediator
TIMELY TAX TIPS                      
By Drew Furtney, CA

Furtney Madon LLP Chartered Accountants


1. Filing a Tax Return 

2. Principal Residence                     

3. RRSP's 

4. Divorce Related

Legal Fees

5. Eligible Dependent

Tax Credit

6. Medical Expenses        

7. Charitable Donations

 

READ MORE... 

Relationship Breakdowns Taxing in More Than One Way

By  Evelyn Jacks 

Knowledge Bureau  

             Knowledge Bureau Logo

Tax Tips for Separating Spouses: 

  1. Support for Spouses
  2. Support for Children
  3. Separating Assets
  4. RRSP Accumulations
  5. TFSA Accumulations
  6. Principal Residence
  7. Other Property
Client Testimonial 

Client Testimonials

"Dear Gail,

 

I want to thank you for all your help and support - you were instrumental in helping me weave through this difficult process.  I am now officially separated - the judge signed on Monday.  I am officially a home owner - as of last Friday. The pension is in the process of being transferred to a LIRA and I was at the lawyers today preparing my will!!! 

 

Needless to say I am very happy that I am on the other side.  I must say I have enjoyed learning the lingo and being able to throw around some financial catch phrases at cocktail parties!!! Not that I ever really go to cocktail parties but I have been impressing my friends. 

 

I don't think at this point that I need any further financial coaching. I feel that I have been well coached up to this point and have a good sense of where I want to go, what I need to do and overall feel confident that I will be OK."

 

Thanks again,  S.L.


Thumbs Up Testimonials

Family Mediation
Making Smart Decisions
Why Should I Use Family Mediation?

What is Family Mediation?


Family Mediation is a process for solving issues between separating/divorcing spouses.  It involves a neutral third party (the mediator) to help the parties consider their interests and point of view, as well as the interests of the other party, so mutually acceptable decisions can be reached in a timely and cost effective manner.

As a Financial Family Mediator, Gail Belchior facilitates the discussion on issues to be resolved, such as:
  • Parenting - principal residence for the children
  • Child support - table amount
  • Child support - special or extraordinary expenses
  • Spousal Support - entitlement
  • Spousal Support - amount and duration
  • Property - possession of the matrimonial home
  • Property - equalization
  • Property - division
Participation in this process is voluntary and both parties need to be willing to consider their interests and point of view and the interests of the other side. Independent legal advice is part of the process so that each party is ensured that they are fully informed of their legal rights and obligations.  Independent legal advice also helps to ensure the final separation agreement is enforceable.

Consider using Family Mediation if you both are:
  • willing to work together to work out your differences, 
  • willing to be flexible,
  • interested in saving time and money on the process,
  • ready to move forward with your separate lives. 
For more information
Visit the Ontario Association for Family Mediation (OAFM)
 
In This Issue
TIMELY TAX TIPS
RELATIONSHIP BREAKDOWNS TAXING ...
CLIENT TESTIMONIAL
WHAT IS FAMILY MEDIATION & WHY USE IT
SHOWCASE - March 23, 2013

Gail Belchior
Gail Belchior, BA/BEd, PFP, FDS
  
Handing Holding Phone
For Tax Pain Relief Call
Financial Divorce Solutions 
905-892-4058
 
 
March 23, 2013 Showcase 

Networking Niagara
Come to the Seaway Mall to check out our "SHOWCASE" of over 20 local businesses brought together for you by Networking Niagara.  

For more information click on:
 
Click here to learn more about
 

Dollar Sign, Hand shake and Money
 

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