Emptying a TFSA before divorce is not recommended and may have serious legal consequences Withdrawing funds from your Tax-Free Savings Account (TFSA) before divorce proceedings without proper consent or legal guidance is considered a serious [...]

Tax-free divorce settlements are possible through proper legal documentation and strategic asset transfers Managing the tax implications of a divorce settlement requires careful planning and proper legal documentation. To minimize or avoid taxes, consider these [...]

TFSAs must be held individually, but spouses can contribute to each other's accounts Tax-Free Savings Accounts (TFSAs) are strictly individual accounts that cannot be jointly held. However, there are ways for couples to coordinate their [...]

TFSA assets can be split between spouses during divorce without tax penalties through direct transfers During a marriage breakdown, Tax-Free Savings Account (TFSA) assets can be divided as part of the overall separation of marital [...]

TFSAs remain individual assets but their value during marriage may be divided during divorce While Tax-Free Savings Accounts (TFSAs) are legally registered to individual holders, the funds accumulated during marriage are typically considered family property [...]