Every 10 seconds a Boomer turns 60 years old. And if you are over the age of 50, you share the risk of divorce, which has doubled in its rate for first-time long-term marriages in the last decade. If you are part of this wave, willing or not, you are facing some unique challenges.
As a divorce financial expert with over 30 years of seasoned experience, I educate, advocate and navigate you through complex, sensitive, and critical financial topics and issues that command your attention.
The facts are that the older you are, the more complicated the divorce typically is financially. Decoupling presents many new issues: your identity among family and friends, your financial security, and your vision for long-term fulfillment. For women who have been out of the work force for significant periods of time, the time horizon is simply too short to improve your earnings power to build up savings. And, it is inappropriate to take on riskier investments to achieve higher yield. Divorce is not the best time to learn about how to deal with money and financial decisions. Late life divorce raises many difficult questions, centering on fairness, expectations and all the “what if’s”.
Key points to address if you are going through divorce after age 50:
- a complex portfolio of investments,
- deferred and executive compensation benefits,
- various asset holdings,
- real estate,
- tax positions that impact future years,
- inheritance or inherited IRAs
- qualified and nonqualified pensions (where previous irrevocable elections for future payout may have been made)
- separate property,
- adult children,
- trusts, and
- early retirement if desired by your spouse – what happens to your alimony?
If you are negotiating a high stakes divorce, you need help to demystify the most complex financial concepts. There are financial issues that must be not only discovered and analyzed, but applied to making long term strategic decisions. However, none of this will matter unless these decisions ultimately let you take control of your life and emerge feeling empowered.
I understand the power and impact of divorce on you and your family. One of the first steps is to not only get a lay of the land, but to get some fire power on your side. You don’t need to be told what to do. You do not need to be rushed or pressured into making any decision until you are ready. You do not need your divorce to be exposed publicly. You should not worry about how your children will be affected or if they have to make sacrifices. I know well the laws that shape divorce proceedings and will make sure no details are overlooked.
As an author of 4 books on divorce, let me share with you an excerpt from my book, “Money & Divorce: The Essential Roadmap to Mastering Financial Decisions”, published by the American Bar Association.
Somewhere in the middle of my divorce, I suddenly realized that I was the only one who could empower myself to negotiate my outcome. Rather than let this transition destroy my family, I sought how to rebuild it and thrive post-divorce. Inspired by the opportunity to teach and coach others through divorce, I helped create an entirely new financial profession called divorce financial planning.
Over the years, I have worked with thousands of divorcing individuals and couples. My practice has centered on my meeting my clients’ needs in areas of divorce financial planning before, during and after divorce; mediation; collaborative divorce; financial forensics; expert testimony in court; prenuptial and postnuptial agreements, and wealth management.
I believe that most people want expert guidance to make informed decisions. It is my hope that I can help you accomplish your goals with dignity, confidence and a sense of security. Every divorce is unique, and so are you.