Retirement Planning for Newly Married in British Columbia
Planning tools for the money side of retirement, written with newly married couples in mind — kept in the same Vault as your will.
What newly married couples should know
- Marriage is the point where two sets of finances start to become one plan.
- Put shared and separate assets and debts in one place.
- Set savings goals together and see whether you are on track.
- Check your insurance coverage now that someone else depends on you.
- What marriage does to a will in British Columbia: Marriage does not revoke your BC will. If you and your spouse later cease to be spouses before your death, any gift, executor/trustee appointment, or power of appointment in favour of that spouse is revoked unless your will shows a contrary intention; the former spouse is treated as having died before you for that gift. Source: Wills, Estates and Succession Act, SBC 2009, c 13, ss. 2(2), 55(2), 56.
Frequently asked questions
Why does retirement planning matter for newly married couples?
Marriage is the point where two sets of finances start to become one plan.
Does getting married affect my will in British Columbia?
Marriage does not revoke your BC will. If you and your spouse later cease to be spouses before your death, any gift, executor/trustee appointment, or power of appointment in favour of that spouse is revoked unless your will shows a contrary intention; the former spouse is treated as having died before you for that gift. Source: Wills, Estates and Succession Act, SBC 2009, c 13, ss. 2(2), 55(2), 56.
Is this financial advice?
No. The tools do arithmetic on the figures you enter. They are estimates for your own planning, not financial advice.
What do the retirement planning tools cost?
It is included in your Vault. Your will is free.
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