Professional Documents
Culture Documents
- Child support
- Spousal Support
- What happens with the home?
- How does the land get divided?
- Process of divorce
o Separation for 1 year
o Filing
- Division of Assets
o RRSP + Pension + CPP
- Where are the kids going to live?
- Income Tax implications
- Have you updated your wills/POA?
- Have you updated your beneficiaries?
o RRSP
o TFSA
o Life Insurance
TOTAL 5 marks
The Case:
Household:
Frank and Priyanka have been married for 20 years and live in the Toronto area. They have two
children, 16 and 14. Priyanka, is the breadwinner of the family while Frank has been home raising the
kids since they were born. After the divorce Priyanka will be moving 1.5 hours away to live closer to her
family.
Assets:
Frank owns the home as he bought this home prior to their marriage and they have a marital contract in
place that confirms the ownership of the home is his. Priyanka has a TFSA, and Frank is named as the
successor holder. Frank has a spousal RSP with Priyanka as named beneficiary. Together they own
vacant land as tenants in common (50/50) which they had purchased with hopes of building a family
cottage one day. She also has life insurance with him named as the beneficiary.
Instructions:
They have come to you for advice, what are some of the key considerations that you need to make them
aware of to help with this divorce. Name at least 5 considerations. (ex. What are some questions you
would ask the client? What advice would you give to them regarding their situation.)
You are to upload a video of yourself of 2-5 minutes in length presenting what you would speak to them
about.
Method:
Step 1) Create a YouTube account, make your video and save to your account, make video ‘unlisted’,
share link with me. Do not make it private or I will not be able to access it. For more information see:
How to - https://youtu.be/wLDjiFSCSVE
2) Make video using zoom or similar, download MP4 to your computer and finally upload to your
YouTube account
3) Share link to video with me.