New Article featuring Kris Rossignoli, Canada US Border tax or Cross-Border Tax and Financial Planner on the Financial Post, “Getting remarried? Here are some tough money talks to have before saying ‘I do'”
Your relationship with finances can affect your personal relationships in complex ways, and this is never more so than when getting remarried. The Financial Post tapped Cardinal Point’s Canada US Border tax, cross-border tax, and financial advisor Kris Rossignoli for specific advice on these matters for a recent article. It can be upsetting to see a partner’s different approach to finances or to discover existing debts after the fact. The key is to have open discussion beforehand—transparency is critical. It is also a good idea to discuss the topic in advance with your financial advisor. The most important subject to be clear on is estate planning, especially if there are children from a prior relationship. A pre-existing will needs to be updated. In Ontario, for example, a remarriage will not override an existing will. There are questions to be discussed in an open dialogue with your new partner, and you can find out the key ones to ask in this Financial Post article.