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Financial Divorce Counselling Useful Links

Click on topic of your choice to go to a useful link.  Use of these links is not an endorsement of their products and services.  My goal is only to assist you in finding useful information that is already available on the web.  Blair Corkum Financial Planning Inc. accepts no responsibility for the accuracy or completeness of information presented on these sites.   You should do your own due diligence.

Sources of Useful Information

Support and Child Benefit Calculators and Information

Counsellors / Mediators / Other help (for other than PEI, do an Internet search for services in your location)

Legislation and Supporting Information

Income Tax

  • P102 Support Payments – Canada Revenue Agency publication
  • CRA interpretations related to taxation of child and spousal supportIncome Tax Folio S1-F3-C3
  • Find your marginal tax rate and your average tax rate based on your income at Tax Calculators for Personal Taxes – Ernst & Young. See my article on income tax adjustments to know which rate to use.
  • Forms required for separation and divorce
    • T2220 Transfer from an RRSP, RRIF, PRPP or SPP to Another RRSP, RRIF, or SPP on Breakdown of Marriage or Common-law Partnership.  Complete this form for transferring your RRSP type of plans to your former spouse/partner.  Section I is for the person transferring; Section II is for the person receiving; Section III is for the financial institution doing the transfer.  Ensure all of the account numbers are correct, and everyone signs accordingly.  Normally, I suggest that the recipient of the funds complete Section II and then give the form to the former spouse/partner for completion of the balance.  The personnel at the financial institutions should be very willing to  help to you.
    • ISP1901 form and information for Canada Pension Plan splitting on divorce
    • RC65 Marital Status Change – Canada Revenue Agency form to file within one month of separation (after being separated for 90 days)
    • T1158 – Registration of Family Support Payments – File this form if you have an agreement or court order that requires payment of spousal support.  It is filed separately from your tax return, with a copy of the agreement or order attached.

Professional organizations

Examples and Precedents

If you are looking for precedents and examples of agreements, you can do an Internet search.  These are a few that I identified using a search for “separation agreement precedent.”  I remind you that I offer no advice on the reliability of information provided by these sites, and that use of a lawyer for preparation of all legal agreements is in your best interest.  Reasons for using a lawyer are set out in this article.