Leslie, a pediatrician who worked long hours, saved conscientiously and invested wisely, came to Rubach Wealth shortly after her husband of 20 years left her and their three children, who ranged in age from 16 to 19.

The situation wasn’t great. Leslie’s ex-husband, Emile, had transferred significant sums from their accounts – which had grown primarily with Leslie’s income – borrowed from their line of credit and maxed out a couple of credit cards.

Leslie was in a state of panic and worried over her children’s future. The oldest child was attending university in France and the two younger ones were also thinking of going to school outside Canada. With a depleted investment portfolio and heavier debt load, Leslie wondered how she’d be able to provide adequately for them while she worked to rebuild her retirement savings.


Here’s what Rubach Wealth did for her.


  • First steps in the right direction. Rubach Wealth brought in a lawyer who was able to talk to Leslie about potential legal avenues for recovering her fair share of the financial assets accumulated during her 20 years of marriage. This discussion looked at probable timelines for the various options, along with projected costs and gains.


  • A clear and updated financial picture. Because she and her ex-husband had held assets and debts in various accounts, Leslie had only a “guesstimate” of the damage her ex-husband had wreaked on her finances. Rubach Wealth tallied up all the numbers across accounts to present Leslie with her complete financial picture. While it was hard to process this new reality, Leslie also felt a measure of relief from knowing it was not as bad as she had imagined initially.


  • A plan of action built on various scenarios. Working with Leslie’s lawyer, Rubach Wealth created a financial plan that took into account a number of potential scenarios, such as successful recovery of her assets or no recovery at all, as well as any claims her ex-husband might make as part of their divorce proceedings. The Rubach team also updated her will and estate plan, ensuring that the latter was optimized to reduce tax liabilities for her children and her estate.


  • Solutions for the way forward. Leslie was pragmatic and determined to do what she needed to rebuild her finances. She was in the fortunate position of having a career that allowed her to earn a sizeable income and, being prudent with her money, she knew she could streamline her budget to maximize her savings. But she also knew that with her younger kids just a couple of years away from university, her expenses were about to balloon significantly. Rubach Wealth discussed a number of scenarios that would enable her to meet her financial goals, such as working extra hours as a hospitalist once all children have left home for school as well as putting off retirement by a few years.


Hopeful and ready to rebuild

Leslie has been through a lot: a marriage breakdown and the near-destruction of the financial house she had worked so hard to build. But with a clear plan of action that includes provisions for potential changes of events or outcomes, Leslie feels like she’s standing on solid ground again. Rubach Wealth continues to work with her as she advances towards her goals.


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