The Divorce Circle Podcast, Ep 5: Understanding Taxes, Real Estate & Your Finances

In this episode of The Divorce Circle Podcast, I am joined by Candace Nancke, FCPA, FCGA & Partner at Loren Nancke Chartered Professional Accountants, who brings her expertise on taxes, financial planning and wealth management to our discussion about the critical role accountants play while you are going through a separation or divorce in British Columbia and Canada.

We also discuss: how to understand taxes, asset division during a divorce in Canada, and British Columbia, common mistakes divorcing couples make, as well as how to establish a strong financial foundation moving forward.

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If you require more resources to guide you through the divorce process, visit my website. Link in bio!

About Candace: As the firm’s Partner, Candace’s dynamic, forward-thinking approach and commitment to outstanding service provides the roadmap for the firm’s continuing growth. Her strengths include the ability to deliver sharp analysis to clients in a clear, direct manner for their smart, steady growth. Candace oversees all firm operations with a collaborative leadership style that focuses on putting people first.

Candace is a participant in CPA Canada’s 3-year In-Depth Tax Course, Canada’s leading tax program. She has made significant contributions to advance the standards for accounting professionalism and played a pivotal role in the 2013 CPA merger as Chair of the Board of Governors of CGABC and as a member of the Transition Steering Committee. Candace continues to actively serve on the Discipline and Member Recognition Committees for CPABC. In recognition of her contributions to the profession and the community, she has received multiple awards and has been designated as a Fellow of the Chartered Professional Accountants (FCPA/FCGA), one of the highest honours awarded to Canadian accountants.

0:00 - Introduction to Candace Nancke
1:33 - Common Financial Mistakes During Divorce
4:04 - How to Make a Divorce Agreement Fair
7:46 - Tax Implications Regarding Mortgages and Real Estate
9:04 - Safeguarding Your Business During Divorce
9:34 - Child Support Payments
12:51 - Spousal Support and Tax Implications
19:41 - Tax Pitfalls Candace Sees When People Haven’t Used Professionals
26:39 - What Steps Should You Take as Soon as You Divorce?
30:44 - Hiring a Tax Accountant Versus a Bookkeeper
31:50 - Rapid-Fire, Fun Questions for Candace

#divorcesupport #taxplanning #taxadvice