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August 25, 2003

FINANCIAL PLANNING FOR SAME-SEX MARRIAGE

As the federal government prepares to legalize same-sex marriages, the topic is making headlines across the country. Some are for it — others aren't.

But differences aside, there may be financial planning implications for same-sex couples who plan to marry. Financial planners say marriage is one of those key life events that should prompt any couple — same-sex or heterosexual — to review their financial situation.

"As with any major life change, marriage is a time to review your financial planning situation. The legalization of same-sex marriage presents a number of financial opportunities, particularly in the areas of tax and estate planning," says Map Financial financial advisor and CFP candidate, Jackie Porter.

Jackie works with Kirk Purai, CFP, and provides financial planning services to many same-sex couples, including Lina Soto and Paula Acevedo, the first to marry in Ontario this past June. Ontario and B.C. have already legalized same sex marriage.

A recent poll on the FPSC website indicated nearly one in four CFP licensees who responded plan to update the financial plans of some of their clients who might be impacted by the legalization of same-sex marriage.

Care to hear more about this? Talk to a CFP professional? Give us a call and we'll put you in touch.

Financial Planners Standards Council is a not-for-profit organization dedicated to benefiting Canadians and the financial planning profession by establishing and enforcing education, examination, experience and ethics requirements for individuals who choose to earn the CFP designation. There are currently more than 15,000 planners licensed to use the CFP marks in Canada, and approximately 74, 000 CFP professionals in 17 countries around the world. See www.cfp-ca.org for further information.

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Note to Media: See our media kit online to learn more about financial planning and the CFP designation in Canada:www.cfp-ca.org/media/media_mediakit.asp.

FOR MORE INFORMATION OR TO ARRANGE INTERVIEWS, CONTACT:
Eileen Chadnick/Chadnick Communications for FPSC at 416.631.7437 or e-mail eileen@chadnick.com.