Friday, July 28, 2023

I went to Las Vegas/ K- Days 2023/ "81-year-old Vietnamese man claims he has not slept in 50 years"

Jun. 26, 2023: I went to Las Vegas.  I just got back home and am writing about it.  I went with my friend C for 4 days and 3 nights.  I stayed at the Sahara hotel where it's at one end of the strip.


I brought my notepad and a pen with me.

Break from routine: I didn't:

1. Work
2. Look for a job.
3. Read the news or the business news.
4. Watch TV.
5. Eat Chinese food.

I did:

1. Shopping.
2. Walked a lot.
3. Eat take out.

American money: Prior to it, my grandma gave me $10.55 of American loose change.  

I was looking for American coins where we put the loose change.  I found $2.10.

I asked my dad and he gave me $15 in bills.

My grandma then gave me $282 in bills.  

This is from the trip my family and I went on spring break in 1998.  We went to San Francisco, Los Angeles, Disneyland and Universal Studios.  My grandma never exchanged the American money for Canadian money.

I had $314. 66 US cash in total.


Thurs. Jun. 22, 2023:

Expedia: My friend C went to Las Vegas like in 2015.  She helped me book the trip and buy the plane ticket.

We shared a hotel room of $813.26.  We divide by 2.  I paid $407.26.

Swoop: The plane ticket was $302.76 to and from Las Vegas.

I woke up at 5am and C came over.  My parents drove us to the airport and got there by 6am.  We went through security.

I then went to Booster Juice and bought myself a steak panini for breakfast.  I also bought 4 protein bars there with my Visa prepaid credit cards.

The plane ride: It was average.  It was about 3 hrs long.  I got the window seat.  I slept a bit. 

My friend and I each packed a backpack.  We got there by 11am.

The Sahara: We took the taxi ride to our hotel.  We each paid $20.  We were to check in at 3pm, so we gave our bags.

We took some pictures.

I checked out the store called Her's that sold women's clothing.  

There was this gift shop between the Sahara and Circus Circus.  If you go to one, then you have been to all of them.  They all sell the same things with Las Vegas on:

-t-shirts
-snow globes
-stuffed animals
-playing cards
-key chains
-magnets

Circus Circus: We walked over there.  There was a gift shop.  

Resorts World: There is a mall and a hotel.

The stores are:

Fred Segal- expensive.

Black Clover- expensive.

Tracy: Are these tennis clothes?
Worker: Golf.

The Gold Key shops: There are lots of souvenir shops and restaurants.

Ross: This store is like Winners.

McDonald's- I then went and bought an ice Frappe for $5.25.

The Kimchi- C bought this Korean food.  I tried the chicken.  It was average.

Bonanza Gift and Souvenir Shop

Walgreens- this is a drug store, but also sold souvenirs.

It was 3pm and then we were able to get our bags and put things in our room.

C took a nap.

I also took a bit of a nap.

It was 5pm and I went out.

Walgreens- there was another one close by.

The Strat: There was a casino, restaurants. 

I went to the Sahara.  There was pool on the top floor.


Fri. Jun. 23, 2023:

I woke up at 8am as usual.  I bought a coffee for $3.25 at the coffee shop at the Sahara.  She put it in my thermos.  

Monorail: There is a monorail station at the Sahara.  You can buy a train ticket for the day or 2 days, etc.

I paid $26 for 2 days.  

If you go online, you can buy the tickets at a discount.  There is the American currency exchange rate to Canadian.

I used the American cash.  I paid at the kiosk there.

The Monorail is a good way to get all around the city.  It's also a way to sight see. 

The Flamingo: We got off here.  I checked out the stores like gift shops and a store selling crystals.  There are a lot of stores selling crystals on the strip.

I also saw the flamingos.

The Caesar: This place is classy.  It's like set and designed in Ancient Greece with all these statues and architecture.  The ceilings are painted like the sky.  I was there for 2 hrs.

C and I split up.  I called her on my flip phone, but later she said she didn't get the call.  She told me to bring my tablet so she can Facebook message me.

There are a lot of crystal stores here.

There are a lot of art galleries here.

Vladimir Kush: He makes surreal art.


Peter Max: He makes art that looks like it's for kids because it's so bright and colorful.


I ate a hot dog with chili, cheese, and onions for my lunch.  It was $14.

There was ice cream and gelato.

Urban Necessities- tattoos, clothes.

Atlantis show: I then saw this with animatronics of a Sea King and his Water Princess and Fire Prince.

There are big TV screens in the bank that shows the ocean.  The Fire Prince's sword was set on fire.  It was a 6 min. show.  This was good.
 
There were aquariums.

The Linq: I went to this hotel.

Harrah:  I went to this hotel.

The Venetian: There are the Grand Canal shops.

Regio Calerie- this store sells jewels and statues.  There were pictures of George Lucas and Michael Jackson shopping there.

The song "Luck be a Lady" by Frank Sinatra was on.

Sugarboo & Co- I like this store that sold home decor, jewelry, etc.


Performance: I saw someone playing the piano, guitar, violin, and 2 men and 2 women singing on a stage.

The Mirage

Pizza Cake: I then went and bought a big slice of chicken alfredo pizza for $9.  I ate it and then got a meat lovers slice for $9.


Sat. Jun. 24, 2023:

I went downstairs to Starbucks.  I bought a breakfast sandwich for $6.99.

I also bought a Rice Krispies bar for $4.99 for a snack to eat later on.

I bought a large coffee for $3. 25 and put it in my thermos.

The Bellagio: We took the Monorail to here.  The Bellagio Gardens was crowded with lots of people taking pictures of the garden.  The flowers and plants are displayed.  There is classical music playing.  

There's a gift shop by there.

We rested a bit.

Miracle Mile shops: Then we went in there and looked around.  It was like a mall, and nothing really stood out to me.

We split up.

Planet Hollywood: There was a casino, and two restaurants that were busy.

Paris Hotel: There was great architecture.  There was a dark blue sky on the ceiling like at the Caesar's and the Venetian.  I went to the gift shop.

The Cromwell: I went to this hotel.

The Linq: I went to this hotel again.  I went to the Dunkin' Donuts and bought a strawberry sprinkle donut for $3.78.

Harrah's:  I went to the Piano Bar.  There was this Black man singing and playing the saxophone.  It turns out he's David "The Saxman" Brown feat. Michael Ross:

They performed songs like:

"Happy" by Pharrell Williams

"Uptown Funk" by Mark Ronson feat. Bruno Mars

"I Got You (I Feel Good)" by James Brown

"Let's Stay Together" by Al Green

I was sitting there for an hour watching and listening to them perform.

I went closer and wrote down the name of the cd "The Horn Zone" onto my notepad.

I put in $10 tip in the bucket.


David "The Saxman" Brown official website: 


His Youtube channel:



Sahara: I went to my hotel.  I then bought a chicken Caesar salad at the cafe there for $14.01.

I then wandered around the hotel some more and looked at the restaurants.


Sun. Jun. 25, 2023: 

We woke up early and checked out.

We got a taxi.  I paid $35 for the ride.  C had ran out of US cash.

I bought $11.15 for a big burrito

We got to the airport and we did some more shopping.  There are lots of gift shops that sells good products like snacks, books, clothes, jewelry.

We got on the airplane.  I sat on the aisle.

We got home like a half hour early.

I called my parents to drive us home, but they said that I didn't call earlier to confirm.  They didn't pick us up.  

C and I paid $70 to drive to my house.  We split the bill in half, because C parked her car out front.

I spent $260. 62 on the Monorail pass and food.

I didn't buy any souvenirs because I don't buy things to own.

I was tempted to buy some of these chocolate covered pretzels because they come in a nice decorative tin can.  I have decorative tin cans already.

I didn't: do these activities because I wasn't that interested.

I didn't go to a Circus Soleil show: That's really expensive like at least $80.  I can go on Youtube to watch this.  I know the live experience would be different.

I didn't see a magic show: I saw a lot of signs for them.  I'll go on Youtube to watch them if I really want to.

I didn't go to the Bacchanal Buffet: My friend C wanted to go there.  It was like $80 for an adult dinner buffet.

I didn't go to Madame Tussauds Wax Museum:



After the trip: 

I feel like I had to recuperate.

Would you go to Las Vegas again?:

Yes, like in a couple of years.  I would stay in the opposite end of the strip though.

American currency: I then started going through more of the loose change in my home, and finding some American coins.

Hong Kong currency: I found some of these coins and gave them to my mom.

China currency: I found some of these coins and gave them to my mom.

My parents will go to Hong Kong and China.

Malaysia currency: My parents went there in 2018-2019.

Taiwan currency: My parents went there in 2018-2019.

My mom was able to differentiate the coins, because I couldn't.   She told me that any of the Malaysia and Taiwan currency I find, I can exchange for Canadian currency and keep the money.

I put the coins and they were to fit into a old prescription bottle.  I don't know how much money that is.


Jul. 22, 2023 Swoop: This airplane didn't have a TV, or headphones to listen to the TV or music.  

Air Canada: I don't remember the airline we flew on back in 1998.  I asked my dad and he said Air Canada.  That's the airplane where there was TV and headphones.  

The in- flight meal was good.  To the best of my memory there was rice and chicken.

The Simpsons: I remember when we were on the plane.  I quoted from The Simpsons episode "Fear of Flying" where Marge goes to therapy because she's afraid of flying.

Cut to Bart sitting on the plane.

Bart: Ugh, I specifically asked not to sit next to a baby.
Maggie is sitting beside him.




In the 2015 episode "Barthood": Cut to Milhouse's graduation party.

A banner says: "Congratulations Milhouse."

A 2nd banner says: "Good luck at flight attendant school."

My favorite part is at 1:24- 1:28 min:

Bart: Mom, don't have a - 
Marge: Have a cow man?
Bart: I was gonna say don't have a foolish attachment to the past.



I'm going to put this in my inspirational quotes.


Being a flight attendant:

Pro:

1. You get to travel.

Con:

1. I would feel trapped working on a plane.  You can't exit easily.


Jul. 23, 2023 Post Secret:

Classic secrets:




The other 2 blog posts:


"In a common-law relationship? Here's what it could mean for your money"/ "How becoming common-law or getting hitched changes tax-filing season"

http://badcb.blogspot.com/2023/07/in-common-law-relationship-heres-what.html


"Housing woes, higher rates present big challenges for divorcing couples"/ "Getting divorced? Here's how to prepare your finances and protect your assets"

http://badcb.blogspot.com/2023/07/housing-woes-higher-rates-present-big.html



Jul, 21, 2023 "81-year-old Vietnamese man claims he has not slept in 50 years": Today I found this article by Ryan General on Yahoo:

An 81-year-old farmer from Vietnam who claims to have not slept since 1973 has gone viral online.

Decades-long insomnia: Thai Ngoc, who hails from Quang Nam province, spends his days tending to crops and ponds, as well as raising fish on his farm in the Na Trang valley.

Unlike others who rest when the sun sets, he purportedly works tirelessly day and night.

"I can still carry 50 kilograms of fertilizer over a 4-kilometer distance from my house to the field without feeling tired," he was quoted by Vietnamnet as saying.

“Peculiar ailment”: While there is no apparent significant impact on his overall health, Ngoc finds his condition frustrating.

"It's frustrating and exasperating,” he said. “What a peculiar ailment. Seeing others sleep, I envy them. On moonlit nights, I usually go out to weed and till the soil because sitting still is unbearable. It's strange that I work twice as much as others, yet my life is still not that prosperous."

Ngoc said he would occasionally turn to alcoholic beverages, but they only leave him in a drowsy haze without causing him to fall asleep.

Global fame: While he has lived a quiet life, Ngoc gained international attention after local news outlets covered his extreme case of insomnia in 2007. Several foreign television networks have offered him substantial sums to document his daily life, but he has refused the invitations.

In February, YouTuber Drew Binsky spent a night with Ngoc and observed that he attempted to sleep around 4 a.m. but ultimately failed. One theory surrounding Ngoc's insomnia is the possibility of post-traumatic stress disorder stemming from the Vietnam War, during which Ngoc reportedly injured his hand.

81-year-old Vietnamese man claims he has not slept in 50 years (yahoo.com)

My opinion: He should have TV networks film him.  He could be making money.  I don't know if he is really that interesting to watch because he's farming.  

I don't know if he can get another job other than farming because he's in Vietnam.


The Book of Questions: I remember my sister had this book.  I looked it up and it's by Gregory Stock.

The Book of Questions: Revised and Updated: Stock Ph.D., Gregory: 8601404916830: Books - Amazon.ca

Question: Would you give half of your things so you can get by with 1 hr of sleep a day?

My answer: It really depends on what I'm giving away.  I have given away of lot of things.


Quickbooks/ How to make decisions/ Tracy giving away her magazine clippings (Work from Home Part 1)

Tracy's blog: Quickbooks/ How to make decisions/ Tracy giving away her magazine clippings (Work from Home Part 1) (badcb.blogspot.com)


2022: The Year of Personal Decluttering/ Do you want to go to Las Vegas with me?

Tracy's blog: 2022: The Year of Personal Decluttering/ Do you want to go to Las Vegas with me? (badcb.blogspot.com)


My sister gave me a lot of her things like magazines, books, and clothes.


It's also not only about how much time you have, but are you using it effectively?

I could be working more and making more money.

Or I could work a full-time job, and then have the time and energy to go to school too.

Or I could have time to do more fun activities.



Jul. 24, 2023 "Dwayne Johnson Donated The Biggest Individual Check In SAG-AFTRA Foundation History To Support Actors During The Strike": Today I found this article by Morgan Sloss on Buzzfeed.  I like this article because it's about donating to charity and helping people:

Well, in a new interview with Variety, SAG-AFTRA Foundation president Courtney B. Vance and executive director Cyd Wilson shared that they recently received a historic donation to support actors on strike.


During COVID, the SAG-AFTRA Foundation provided relief to many of the 160,000 members through the Emergency Financial Assistance Program. Cyd explained, "We rely on donations and grants to provide services — we have been very fortunate that we raised enough money to be able to cover all of our programs. But when we hit a crisis like this and we’re going to spend millions and millions of dollars in financial assistance, this is when we need our high profile talent who can afford it, who are in a situation to help others."

"It is a call to arms for all of us to know that we just have to step up however you can," Courtney continued. "If your step up is $10, step up. Because that $10 is going to help somebody. If it’s $10,000, if it’s $10 million, step up, because we have to. Everyone knows what happens when you go on strike, when you stand for something — as the saying goes, if you don’t stand for something, you’ll fall for everything — you can’t stand unless you have support underneath you, on the side, up top and up front. So Dwayne is letting everyone know, 'I’m here. What are you going to do?'"


Cyd added, "It’s the largest single donation that we’ve ever received from one individual at one time. And what is amazing is that that one check is going to help thousands of actors keep food on their table, and keep their kids safe, and keep their cars running. And it’s not lost on me that he’s very humble about this, but it is a way to get us started."

Courtney thanked Dwayne for his "tremendous generosity, compassion, and initiative to step up in this significant and meaningful way for our community." He concluded, "On behalf of the thousands who will be helped by his historic donation, thank you, thank you, thank you."


Jul. 26, 2023 "Subway Offers Free Sandwiches That Come With a Lifetime Commitment": Today I found this article by Azul Cibils Blaquier on BNN Bloomberg 

(Bloomberg) -- Subway’s latest promotion in its effort to transform the brand also requires a change from its superfans.

Hardcore Subway enthusiasts can enter a contest in August to win free sandwiches for life — if they commit to legally changing their first name to “Subway.” The chain will choose a winner and pay their legal fees to assume “a new iconic identity.”

https://www.bnnbloomberg.ca/subway-offers-free-sandwiches-that-come-with-a-lifetime-commitment-1.1950946


Jul. 27, 2023 "Canada Goose launches second-hand, trade-in program in Canada": Today I found this article by Tara Deschamps on BNN Bloomberg.  I like this article because it's about saving the environment and saving money:

Your next Canada Goose coat might be on its second life by the time it gets to you.

The Toronto-based, luxury apparel company announced Thursday that it is bringing Generations, a platform allowing consumers to shop for and trade in pre-loved pieces from the brand, to Canada.

Pieces available for trade-in or purchase through Generations will range from the company's popular parkas and outdoor vests to snowsuits, snow pants, trench coats and even fleece and knitwear.

The program is being launched to further Canada Goose's commitment to sustainability but also cater to the growing number of people seeking second-hand goods, Carrie Baker, the company's president, said.

https://www.bnnbloomberg.ca/canada-goose-launches-second-hand-trade-in-program-in-canada-1.1951319


Jul. 26, 2023 "Arizona teen who went missing nearly 4 years ago shows up at Montana police station": Today I found this article by Phil Helsel on NBC news.  This is a positive news story: 

A major search for a 14-year-old girl who disappeared from the Phoenix area over three years ago came to a happy end when the young woman, now 18, reported to a police station in Montana, officials said Wednesday.

Alicia Navarro went to the small town near the Canadian border recently and said she is the girl who vanished from her Glendale, Arizona, home on Sept. 15, 2019, Glendale police said.

"She is by all accounts safe, she is by all accounts healthy, and she is by all accounts happy," Jose Santiago, a spokesman for Glendale police, told reporters at a news conference.

"Every indication she's given to us so far is that she willfully left her home," Waite said. "Now the dynamics surrounding that decision are obviously something we're looking into."

"I can say, for everyone involved, including the detectives, it was extremely overwhelming," Waite said.

Navarro and her family are asking for privacy, police said. Police would not name the Montana town.

"She wanted to talk to her mom, and she wanted to make sure her mother knew she was OK," Santiago said.

Navarro is "very apologetic to what she has put her mother through" and expressed that it was not intentional and that she hopes to have a relationship with her mother and move on with her life, Santiago said.

https://www.nbcnews.com/news/us-news/arizona-teen-went-missing-nearly-4-years-ago-shows-montana-police-stat-rcna96554



Jul. 23, 2023 K- Days 2023: Today I went there because it's free with your Edmonton Public Library card on this day only.  I brought my thermos of coffee and a bottle of water.  I took the bus and LRT there.

Shopping: I went shopping from 12pm- 1:30pm.  There were:

-clothes

-jewelry

-bags

-stuffed animals and toys

-stickers

-greeting cards

-crystals

-magnets

-one booth sold DVDs, books, and art supplies

-beauty products like bath salts, lip balm

-candles

-art like paintings and prints


There are a couple of psychics.

Fiesta Bombs: I tried the blueberry raspberry.  This was average, because I don't like the flavor.  1 ball can make like 5 drinks/ a pitcher.

Fiesta Bombs


The Bold Unicorn: This is good art.

The Bold Unicorn


The Makers Keep: This is a good store that sells snacks and art.

VR rides: They cost $15.

Edmonton New Technology Society: You can make a free button.

Telus World of Science: You can make a free Lego key chain.


Freeze Dried Candy: I tried some candy samples.  I forgot what booth name was, but when I looked it up, this and other websites appeared.

Airdrie Freeze Dried Candy — The Space Pantry (thespacepantrycanada.com)


Jay Flair magic show: I researched her before and watched this magic show on Youtube.

(800) Jay Flair - Lemon Magic - YouTube

I then saw her live from 1:30-2pm.  There were mainly adults with their little kids there.

There are 3 balls in her hand and they disappear in her hand.

The balls then appear under the cups.

A lemon appears under the cups.

There are are 3 ropes and the audience members touch them.

The 3 ropes turn into 1 rope.

If you watch the video above, she does the lemon magic trick here live: She gets a $5 bill from the audience and writes the name onto the bill.  The bill then appears inside a lemon. 


Taco in a bag: There is a 45 gram Doritos chip bag.  They put tomatoes, lettuce, beef, and cheese.  I tried this for the first time.  It was good.  It was $12.60.  It wasn't very filling.

The grounds: From 2-3pm I was walking around and checking out the rides and games.

From 3-4pm:

Game Discovery Exhibition: I went indoors to this.  There were video games and VR.

Table Top Cafe: There were games to play and buy.

Anime: There were some booths that sold Anime prints and stickers.

Indigenous Experience: There were a lot of booths that sold clothes, bags, jewelry,  and beauty products.


Super Dogs: Barkade: At 4pm, this dog show was indoors.  Last year, the show was outdoors.

It's a good thing it was indoors, because there were seats of like 500 people sitting and watching.

There were 2 dogs racing against each other.

The dogs can stand on the trainer's back.

The dogs can balance on a ball and on the trainer's feet.


I ate a corn dog.  It was 5:30 pm.  I was there for 5 and a half hours.


Taste of Edmonton: I then got off the LRT and went here.  I looked around a bit.  I never really buy food tickets and try the food here.

I then took the bus home.

"Housing woes, higher rates present big challenges for divorcing couples"/ "Getting divorced? Here's how to prepare your finances and protect your assets"

Jun. 17, 2022 "Housing woes, higher rates present big challenges for divorcing couples": Today I found this article by Michelle Zadikian on BNN Bloomberg:


The swift decline in Canadian home prices, rising borrowing rates and the skyrocketing cost of living are presenting challenges for many Canadians, but couples going through a divorce are being hit particularly hard by these new financial realities, according to experts.

Aside from the mental and emotional toll a divorce can take on a family, 

those looking to sell their matrimonial home 

or buy out their spouse from the property 

are finding out that the current market conditions are increasingly becoming unfavourable for them.

“In a situation where the parties are jointly on title or have a joint interest in the property, one possible solution that we could normally discuss is, ‘Hey, are either of you interested in maintaining that property [and] buying the other party out of their interest?’” said Kevin Caspersz, senior associate lawyer at Shulman & Partners LLP, told BNN Bloomberg in an interview.

“The party purchasing the other party's interest should go and get some sort of preapproved financing and demonstrate that they have the financial ability to do that. 

With increased interest rates and the stress tests that are implemented now, it's become a lot harder for that option.”

He said getting rid of that choice could force a couple to unwillingly sell the property on the open market at a time when home prices are sliding.

The latest Canadian Real Estate Association (CREA) data showed national home prices fell for a second straight month in May as the cost of borrowing jumped and buyers continued to sit on the sidelines.

The benchmark price of a home fell 0.8 per cent to $822,900 in the month, with several major cities in Ontario reporting the biggest drops, the CREA data showed.

Typically, the easiest option divorcing couples can opt for is to list the home for sale and divide the net proceeds among the two parties, Caspersz said. 

But some couples may want to keep the home in the family for a variety of reasons including maintaining a certain lifestyle for the children.

“It becomes a very, very different circumstance, where now you have two households, and now you have to use the same amount of income for two separate households,” he said.

“And that can really change the lifestyle [and] the way those finances are used between those two residences as compared to when it was one household and one financial unit. 

So you're not wrong when you say that the financial impact can be significant, if not the most significant impact when a party separates or divorces.”



DELAYING DIVORCE

While Caspersz said he doesn’t have specific examples, he said it’s “very possible” that some couples are delaying divorce to wait for the housing market to rebound.

“Perhaps they're in a circumstance that's not extremely confrontational or high conflict and they're holding on to their property in terms of maximizing their return -- very possible. 

Also, there are circumstances where parties continue to reside in what we call ‘separate and apart’ but in the same residence. So they're technically separated but they're still living in the same home because of the financial impact,” he said.

The thought of having to survive on one income in this rapidly-changing economy can also be very intimidating for couples thinking about splitting up, according to one real estate professional.

“I’ve spoken to people -- several people -- in the last little while who have been contemplating divorce and they're definitely intimidated by the financial aspects, not just from a housing perspective, but the overall cost of living,” said Cailey Heaps, president and chief executive officer of the Toronto-based Heaps Estrin Real Estate Team, in an interview. 

“What will they net on their house sale? 

How do they ever get back into the real estate market? 

There's just so much happening in the economy that I think it's creating more concern about the financial aspects of divorce than we've historically seen.”

She said when divorcing couples want to sell their home, she tries to determine what their main motivator is: are they looking to sell quickly or are they willing to wait in order to get the highest selling price.

If the couple has a tight timeline, she said her strategy in today’s housing market would be to price the property attractively to generate offers.

“I think the other thing for divorcing couples is if they want to sort of wait it out and wait for the market to fully return to its peak. You know, how long will that take? No one really knows but I expect it will probably not happen before 2023 or later,” she said.

She said one option for divorcing couples is to rent a smaller secondary apartment so children can remain in the matrimonial home while spouses take turns living in the main home.



MARRIAGE CONTRACTS

As a lawyer, Caspersz said his best advice, ironically, is for couples to sort out the terms of a hypothetical separation when they’re on good terms and document it in a marriage contract.

A marriage contract is a formal agreement a couple can enter into before they get married which details how property and finances will be divided should the two parties separate.

“You can talk about things and there's no conflict or minimal conflict. That's the time to say -- and yet, the worst time to say, ‘Hey, what would happen if we separated?’” he said.

“[If] you can never have to rely on that contract, that's wonderful, right? You stay together. But if you do separate, simply pull out that contract.”

Housing woes, higher rates present big challenges for divorcing couples - BNN Bloomberg


Mar. 21, 2023 "Getting divorced? Here's how to prepare your finances and protect your assets": Today I found this article by Ida Khajadourian on the Financial Post:


More than 40 per cent of marriages in Canada end in divorcewhich can be an

emotionally charged life transition since 

your lifestyle, 

housing 

and financial goals 

can all be upended,

 making the process of separating finances onerous and exacerbating.

Separating emotions from critical financial decisions can be difficult at the best of times, but is especially complicated when working through a divorce. 

Working with a wealth adviser can add an objective lens when navigating your uncoupling and can help you better plan for financial security in the future.


Gathering resources

Before you begin the divorce process

consider the shared assets 

and debt accumulated 

during the marriage that will need to be divided during the separation. 

For example, if a couple took on a mortgage to purchase a matrimonial home, the home’s value and the debt taken on to purchase the property will need to be split between the couple regardless of who paid for it.

Other financial considerations may include the appreciation in investment portfolios, other real estate properties, pension assets and the value of a business. 

Depending on how they were treated during marriage, gifts and inheritances may also need to be divided.

The division of art and antiquities, precious metals, the cash value of insurance policies and even loyalty reward programs such as Air Miles are sometimes overlooked and will form part of your net family property.

While not on the balance sheet, other considerations should include the potential impact to your health insurance coverage if you are transitioning out of a marriage and were dependent on your spouse for this coverage.


Protecting your assets in case of divorce

Although only eight per cent of Canadians claimed to have signed prenuptial agreements in 2017, according to an Ipsos survey, the trend is shifting, with an increasing number of young adults, especially women, requesting prenups to cover property protection, spousal support and the division of assets in case of divorce.

Like any other contract, a prenuptial agreement can benefit couples by encouraging 

early communication, 

potentially avoiding costly legal disputes,

reducing stress and uncertainty 

and increasing the chances of a clean separation of assets later on.

Although prenups cannot cover everything, they can help simplify the divorce process and alleviate some of the financial and emotional burdens.

If you do not have a prenup, keeping thorough records of the assets you owned before marriage and keeping gifts and inheritances separate from marital property are simple ways to protect your finances. 

For more sophisticated methods of protecting assets, life insurance, corporations and trusts may also be used.

Some couples may forgo marriage entirely and choose a common-law arrangement to reduce financial risks since the law treats common law differently than marriage.

For example, depending on the specific laws of the jurisdiction in which the couple resides, the partner who purchased the home could be considered the sole owner of the property.

 However, if the other partner made contributions towards the purchase or maintenance of the home, such as paying bills or making improvements, they may be entitled to a portion of the property’s value upon separation.


Aligning child-care responsibilities

One of the most common concerns for couples during a divorce is their children, and it is critical to consider their emotional and financial well-being.

Determining child support costs in Canada is mostly formulaic and is calculated by considering each partner’s annual gross income, the number of children in the family and custodial arrangements. Other considerations include the cost of child care and extraordinary expenses such as private school and extracurricular activities.

Calculating spousal support costs is more complex and considers a number of factors such as the length of the marriage, ages of the spouses, gross income, financial needs of each spouse, whether there are children and child support, and more.

A couple should find solutions that best suit their family’s circumstances when constructing separation and parenting agreements, keeping in mind factors such as safeguarding the familial home for their kids, considering the location of their new homes and workplaces, insurance policies for support payments, and their custodial and visitation rights.


Transitioning from family income to a single income

The financial and lifestyle changes that result from moving to a single-income household can be overwhelming, but working with a wealth adviser can prepare you to 

manage the expenses attached to the process, 

make informed decisions about dividing assets 

and devise a new financial plan based on your revised priorities and life goals.

Whether it is providing recommendations for lawyers or mediators, 

checklists and budgeting worksheets, 

or even sample parenting and separation agreements,

wealth advisers can provide valuable tools and information needed to consider your next steps. 

They can also work with your other advisers such as accountants to review the impacts of a divorce from a tax perspective.

Beyond helping you work through any financial concerns, a trusted adviser can provide much-needed emotional support during these tumultuous times and guide clients thoughtfully in the right direction.

This may mean encouraging a couple 

to attend mediation rather than going through a costly legal battle 

and providing support and resources for children, 

including budgeting for counselling to help support the family’s mental health during this difficult transition.

Ultimately, it is important to remember that you are not alone in this process 

and the more you lean on the support systems around you, 

the lighter the burden will feel.

Ida Khajadourian is a portfolio manager and investment advisor at Richardson Wealth. This article is not intended to provide legal advice.

Getting divorced? How to prepare your finances and protect your assets | Financial Post