Avoiding Common Divorce Pitfalls

  Provided by  Terri Fassi CPA, MBA, CDFA

In these difficult economic times, many marriages fall into trouble over money and finances. When money is tight and the parties are distracted by the pain of a divorce, financial and tax planning need to be front and center in divorce planning.  I can help by evaluating your income, retirement planning assets, and your debt obligations.

Here are a number of specifics that need to be addressed:

  1. Do you have an experienced divorce attorney that you can trust and count on?
  2. Do you have a budget in place?
  3. Do you have a realistic value of all the assets before you split them up?
  4. How is this news being delivered to the kids? Are both sides being fair & accurate?
  5. What are the income tax ramifications of the divorce?
  6. What are the tax ramifications of Alimony and child support payments?
  7. What is a QDRO and how does it work?
  8. What are the Social Security ramifications of divorce?

These are just some of this issues that a Certified Divorce Financial Analysts such as myself can help you with. Contact me at Financial Educators Network terri@financialeducatorsnetwork.org or 970-493-4474.

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Terri Fassi CPA, MBA, CDFA

Summary
Article Name
Avoiding Common Divorce Pitfalls
Description
Divorce is not only a difficult emotional process but sometimes can lead to financial losses if proper steps are not taken.
Author