Retirement Planning for Newly Married in Ontario
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 Ontario: Marriage no longer automatically revokes a will in Ontario for current law. Divorce or annulment revokes gifts, executor/trustee appointments, and powers of appointment for the former spouse unless the will shows a contrary intention. The same revocation rules can apply to separated spouses if the statutory separation conditions are met. Source: Succession Law Reform Act, R.S.O. 1990, c. S.26, ss. 15(a) repealed, 16 repealed, 17(2)-(5).
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 Ontario?
Marriage no longer automatically revokes a will in Ontario for current law. Divorce or annulment revokes gifts, executor/trustee appointments, and powers of appointment for the former spouse unless the will shows a contrary intention. The same revocation rules can apply to separated spouses if the statutory separation conditions are met. Source: Succession Law Reform Act, R.S.O. 1990, c. S.26, ss. 15(a) repealed, 16 repealed, 17(2)-(5).
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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