Marital Status

KNOWLEDGE EXPECTED OF: QAFP® Professionals

Highest Knowledge Level: Awareness


Knowledge Levels and Associated Verbs


Awareness
The state of being aware that something exists / to have familiarity with a particular activity or subject
Understanding
To comprehend the general relationship of particulars / to have an expertise with how something works
Application
Ability to put information to use / to use knowledge for relevant, practical purposes
Evaluation
To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
Define
To state exactly the meaning of
Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
Determine
To ascertain / to come to a decision, such as by investigation or reasoning
Compare
To note the similarities and differences between two or more things
Estimate
To determine an approximate value for
Calculate
To find the value using mathematics
Convert
To change from one form or purpose to another
Evaluate
To reach a conclusion or make a through careful study
Interpret
To give the meaning of / to construe or understand / to translate orally

Hold cursor over or click on each term to read its definition.

Marriage 

  • Define marriage for family law purposes. 
  • Identify when a marriage ceases.

Common-Law

  • Identify that the definition of common-law partnership for family law purposes varies across jurisdictions.  
  • Identify that courts may rely on a variety of factors to determine common-law status for family law purposes.
  • Identify the areas of legislation that may differ for married and common-law couples, such as:
    • Family law
      • Family obligations / support payments
      • Matrimonial property
      • Division of property
      • Wills and powers of attorney
      • Intestacy rules
    • Pensions

Separation

  • Identify when a separation is deemed to have occurred between individuals.1

Divorce 

  • Define divorce for family law purposes.2
  • Identify areas that should be reviewed upon divorce. 
    • Entitlements under a will
    • Entitlements in tax
    • Entitlements of property
    • Pension entitlements
    • Powers of attorney
    • Beneficiary designations 
  • Identify claims that may be made under a petition for divorce, such as
    • Child support
    • Spousal support
    • Custody
  • Identify the sources from which spousal support payments may be verified, such as:
    • Separation agreement
    • Divorce agreement
    • Bank statements

REFERENCES



KNOWLEDGE EXPECTED OF: CFP® Professionals

Highest Knowledge Level: Understanding


Knowledge Levels and Associated Verbs


Awareness
The state of being aware that something exists / to have familiarity with a particular activity or subject
Understanding
To comprehend the general relationship of particulars / to have an expertise with how something works
Application
Ability to put information to use / to use knowledge for relevant, practical purposes
Evaluation
To judge or conclude by utilizing data / a systematic determination of something’s worth or significance
Define
To state exactly the meaning of
Identify
To be aware of / to recognize and correctly name / to locate an appropriate resource
Explain
To make clear the meaning of / to describe something in more detail or reveal relevant facts or ideas related to it
Determine
To ascertain / to come to a decision, such as by investigation or reasoning
Compare
To note the similarities and differences between two or more things
Estimate
To determine an approximate value for
Calculate
To find the value using mathematics
Convert
To change from one form or purpose to another
Evaluate
To reach a conclusion or make a through careful study
Interpret
To give the meaning of / to construe or understand / to translate orally

Hold cursor over or click on each term to read its definition.

Marriage 

  • Define marriage for family law purposes. 
  • Explain when a marriage ceases.

Common-Law

  • Identify that the definition of common-law partnership for family law purposes varies across jurisdictions.  
  • Identify the areas of legislation that may differ for married and common-law couples, such as:
    • Family law 
      • Family obligations / support payments
      • Matrimonial property
      • Division of property
      • Wills and powers of attorney
      • Intestacy rules
    • Pensions

Separation

  • Identify when a separation is deemed to have occurred between individuals.1

Divorce

  • Define divorce for family law purposes.2
  • Identify areas that should be reviewed upon divorce. 
    • Entitlements under a will
    • Entitlements in tax
    • Entitlements of property
    • Pension entitlements
    • Powers of attorney
    • Beneficiary designations 
  • Identify claims that may be made under a petition for divorce, such as
    • Child support
    • Spousal support
    • Custody
  • Explain the sources from which spousal support payments may be verified, such as:
    • Separation agreement
    • Divorce agreement
    • Bank statements

Additional Knowledge Expected of CFP Professionals

Marriage

  • Explain when a marriage may be voidable. 
  • Explain when a marriage is void. 

Common-Law

  • Explain variables that courts may look at to determine if partners are living common-law, such as:
    • Shelter – Living arrangements
    • Behaviour – Sexual and personal
    • Support – Support of partner
    • Social – Presentation of partnership to society
    • Societal – Community view of the relationship
    • Economic support – Combined finances, supporting the partner financially
    • Children – Attitudes and conduct concerning children

Separation

  • Explain the risks associated with remaining separated indefinitely. 

Divorce

  • Define the types of divorce.
    • Uncontested
    • Contested 
  • Explain types of support that may be required by law.
    • Child support
    • Spousal support
    • Parental support 
  • Explain the sources from which child support payments may be verified, such as: 
    • Separation agreement
    • Divorce agreement
    • Bank statements

REFERENCES