Loans

Vancouver, BC, Canada (AHN) – British Columbia Supreme Court Justice Randall Wong overturned the will of a man who died in 2008, but left nothing to his four daughters.

William Werbenuk named his only son, Randall, as the sole inheritor and executor of the will. He left Randall a farm in Saskatchewan, a violin collection and a house worth $430,000.

Wong ruled the elder Werbenuk’s will went against contemporary moral standards. The justice said the father terrorized his daughters by running the house with an iron fist, even making his daughters wash his feet.

The father claimed his son cared for him for a long time, thus Randall deserved the inheritance. Wong said the daughters must be compensated for the way their father behaved toward them.

The eldest daughter, Virginia Derksen, was Werbenuk’s child by his first marriage to Ann Haining. The couple divorced in 1953. Werbenuk had five children with his second wife. One of his daughters, Wilma is now deceased.

Werbenuk explained in his will that he excluded his three daughters by his second marriage from the will because one received $20,000 and another $30,000 when he was still alive. He deliberately left a third daughter out of the will because she distanced herself from him.

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More and more unmarried couples are living together and merging their finances.

Since 1985, the number of unmarried couples living together in the US has more than doubled. The merging of finances between unmarried parties offers unique money situations. And many are less likely to plan for the future as married couples do.

Recently, a client came to me asking for suggestions on merging finances before marriage. She was worried that the finances merged now would not be split equally in the case of a separation. (more…)

photo credit: lumaxart

There are number of effects on the eligibility of student loans depending on student’s age and the employment status of the spouse. Some of them are positive and they give greater eligibility for student loans. Some effects are neutral and they don’t make much change in student’s eligibility for student loans. But mostly the eligibility decreases for student loans. In some cases, the marriage results in such a high penalty that it can be called a disincentive to marriage.

There is an assumption made that all students are married to some other students. Government has setup rule that require the spouses of married students to pay close to 90 percent of any income over $20,000 in taxes or contributions to their spouse. (more…)

photo credit: Mendhak

You’ve taken the plunge into wedded bliss, had a wonderful honeymoon and are ready to mesh you lives together into one big happy pile, all with great ease and no worries for the future. You have dreamed of a lifetime of happiness in all areas of your life, now it’s time to face the facts and make that dream a reality. One would think that a healthy marriage is a guarantee to financial success, but a few things need to be discussed when marriage and your finances meet. Below you will find a few helpful hints to make your marriage and your finances a happy union. (more…)