Putins split; help clients through divorce

Russian President Vladimir Putin and Lyudmila Putin are splitting after 30 years of marriage.

If your clients are going through similar upheaval, read on.

Read: Tax traps for divorcing clients

Lawyers are now suggesting clients seek advice from financial planners before beginning divorce mediation, reports Brynna Leslie in the Globe and Mail.

“The majority of family cases have some component of financial and tax issues that can be complex, challenging and require advice outside of the legal profession,” says Ottawa family lawyer Adriana Doyle.

Read: Divorce planning for advisors

Usually in a couple, one person knows more about the finances, or there is a general lack of financial education.

Expert advice can help level the playing field and help and ensure that both parties understand how the outcome of the negotiations they’re having now will affect their financial futures.

Read: Divorce planning a modern must

If your clients are business owners, there are more factors to take into account. Find out how to properly structure a business to protect it from your client’s spouse.

Read: Protect entrepreneur clients

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.