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Divorce & Money Secrets: Teleseminar Event

January 23, 2012 By Leave a Comment



Attention: Those whose lives have been impacted by divorce – If you are wrestling with worry, fear and uncertainty about how unravel your finances and your life then you MUST…

“Discover Divorce and Money Secrets to Help You Get the Rock Solid Best Results From Your Settlement!”

divorceFacing divorce feels overwhelming, doesn’t it? Maybe you’re afraid of what’s going to happen, how the divorce will go, and unsure of the financial future you’ll face. You want to get it done right, but you aren’t sure who to trust or where to begin in the process.

Or maybe you’re putting it behind you now and want to end it right or wrap up loose ends so nothing gets missed, but you aren’t sure what that looks like either. How could you? Nothing in life ever prepared you for this.

I understand your worries and fears and I want to help calm them for you. I’m Lisa C. Decker, Your Strategic Divorce Advisor™, and I’ve helped hundreds of people like you to “Divorce Your Spouse, Not Your Money®.”

Starting on the journey of divorce can be scary, lonely, and for some, downright crazy. You may not be sure where to begin or what come next. You may wonder who can you trust, who you need on your team (did you even know you need a “team” and who should be on it?) and where to find the right professionals for your unique circumstances? And coming to the end of your divorce can open up a whole other side of questions and concerns.

Do you wonder how to divvy up accounts and debts, get what you are owed on the retirement accounts, what to do about credit cards, have social security or insurance related questions and more?

If you are ready to learn the answers that will help you move from overwhelm to ACTION then I invite you to join me as a guest at my next FREE teleseminar event:

“Divorce & Money Secrets: FIVE Must-Know Essentials to Creating a Rock Solid
Settlement for Your Divorce that will Save Your Money and Your Sanity!”

This Event takes place

Thursday, January 26th,
2012 at 7 pm (EST)

 

If you’ve know me at all, you know that I have had a long standing teleseminars series, but in the past year my work log has kept me to busy to keep up with it, so this is my first teleseminar in nearly a year! I don’t know when I’ll be offering this again LIVE, so plan on catching this one if you need this intensive information I’ll be delving into! Here’s what I will be sharing with you on this complimentary, one-hour call:

    1. The FIVE essentials your Divorce MUST HAVE to Save Your Money and Your Sanity
    2. The TWO key reasons divorcing folks many times fail to get their best outcome
    3. When you should and SHOULDN’T listen to your attorney
    4. Lessons from cases of “Divorce Gone Wild!” and my personal experiences as a Certified Divorce Financial Analyst that will help you avoid common mistakes made by others
    5. And get a sneak peak at details on my brand new “Money and Sanity Saving” way to get the guidance you deserve!

    To see if this information is right for you, ask yourself these questions:

  • Do you completely understand the money matters of your divorce?
  • Does your attorney?
  • Are you riding the emotional roller coaster of your divorce?
  • Are you unsure where to begin and what comes next
  • Are you making the worst money decisions of your life based on fear, emotion and lack of information?
  • Are you near the end or post divorce and still left with questions and uncertainty about how to tie up loose ends?

     

If you answered yes to any of these questions then you absolutely must listen LIVE to this FREE call.

Be my guest on Thursday, January 26th, 2012 at 7 pm (EST)

“Divorce & Money Secrets: FIVE Must-Know Essentials to Creating a Rock Solid Settlement for Your Divorce that will Save Your Money and Your Sanity!”

If you want to discover the secrets to getting the settlement results that you deserve, don’t miss this call on Thursday, January 26th, 2012.

I’ll be making an extra special offer for those who are listening LIVE on the call and are ready to take action for their financial future. Be sure to listen in live so you don’t miss out on this EXTRA Special Bonus Value Offer!

Wishing you peace and a future filled with prosperity,


divorce


P.S.I’ve consulted with hundreds of people in the midst of or past divorce. Many have shared their war stories of divorce gone wild with long, drawn-out, outrageously expensive and sanity-sucking experiences. You don’t have to go through the same. Get ready for sound strategies that will help you get a rock-solid divorce settlement!

 

 

 

 

 

 



Filed Under: CDFA, Dividing assets, Divorce Recovery, Divorce Settlement, mediation Tagged With: , , , , ,

Getting Divorced? How Getting the Best Divorce Help Starts With Taking Control

January 17, 2012 By Leave a Comment



divorce helpDivorce Help Starts With Taking Control

If you are  ending your marriage, chances are you don’t know where to turn for divorce help.  Before you look elsewhere, remember that the most important source of divorce help can be found right in the mirror.  Remaining empowered and not allowing yourself to become a victim in the process – no matter how difficult – starts with taking control.

The first thing you must do is take time to educate yourself about divorce.

Divorce help is out there, but you have to know how to assess each professional’s ability to get the job done.

Be sure to interview the experts you want to have on your divorce team.  When getting divorced, you want to have quality mediators, attorneys, therapists, and financial advisers involved in the process.

Whatever you do, do not base your choices solely on recommendations from your best friends, neighbors, or relatives.  While often well-intentioned, be weary of anyone who is not an expert in the battle you are facing. They can sometimes make things worse… much worse!

Do your own divorce help research independently, and do not fall into the trap of feeling obligated to work with anyone just because you have a personal connection.  This is too important.

As you face divorce, help with the financial matters can make a world of difference in your ability to successfully navigate the process without losing your shirt.  Seek to work with someone who has experience and training specifically in divorce matters, such as a Certified Divorce Financial Analyst (CDFA).

And, of course, find a divorce attorney who will be your best ally.  Remember that while a good divorce attorney is likely to be a busy divorce attorney, you should not settle for working with someone who doesn’t have time to give you proper attention.  Many attorneys are in overload with more to do than they have time for and are notoriously known for not responding timely to phone calls and emails. Be sure to have a conversation about expectations from the start.

Learn as much as you can about the process and remain vigilant about who you bring onto your team.  Finding qualified divorce help will serve your best interests when getting divorced.



Filed Under: Blog, CDFA, Communication, Dividing assets, Divorce Settlement Tagged With: , , , ,

Divorce Planning: The Top 5 Types of Documents To Have Before Contacting Your Attorney

January 3, 2012 By Leave a Comment



divorce planning checklistMany people find one of the most difficult aspects of divorce planning is the seemingly never ending requests for financial information and legal documentation.

If you are divorce planning, you need a solid defense against drowning in a sea of paperwork.

Start by gathering every possible financial statement or document pertaining to you and your spouse’s financial life, whether held individually or jointly.  And before you contact an attorney or a Certified Divorce Financial Analyst (CDFA), arm yourself with an organized set of documents.

Divorce Planning:  The Top 5 Types of Documents To Have Before Contacting Your Attorney

Divorce Planning - Assets

Gather all information on your bank, investment, and retirement statements, as well as your life insurance policies and any cash surrender value.   Secure real estate property records, including your primary residence, second home, rental and commercial properties, time-shares and land.  For your vehicles, determine the make, model, year, mileage, features and overall condition to get an estimate of value.

Meticulously document other assets such as jewelry, artwork, and collectibles, and don’t forget potentially valuable intangibles, such as season tickets and frequent flier miles.  If you own a business, you may need a business valuation expert.

Divorce Planning – Liabilities

You will need to obtain copies of any notes payable or mortgage documents.  All debt documentation should include information on the creditors, balances owed initially and currently, interest rates, and credit limits.

Divorce Planning - Taxes

When obtaining divorce planning services, you should be prepared to submit three to five years of tax returns, W-2s, current pay stubs, including commission and bonus payments, real estate property tax information, and personal property tax information.

Divorce Planning - Insurance

Look for both personal and work policies.  If you are in the process divorce planning, never remove your spouse from your insurance policies until after your divorce is final or without the consent of your attorney.  Speak with your attorney and insurance agent for each policy regarding re-titling of your insurance accounts and possibly changes of beneficiaries for life insurance policies.

Other Divorce Planning Documents

Take the time to make a list of additional documents you might need to access during the divorce. Planning ahead, you will be able to retrieve wills, passports, birth certificates, credit reports, and other critical documents.

Gathering all of the documents and information you need when preparing to get a divorce can be a tedious process, but divorce planning is something that has to be done with care.  Hastily gathering information as you need it will lead to wasted time, mounting frustration and more money needlessly spent.  Remaining organized and systematized is one thing you can truly control to save you time, money, and your sanity in the process of divorce planning.



Filed Under: Blog, CDFA, Dividing assets, Divorce Settlement Tagged With: , , , ,

What to Do with the 529 College Savings Accounts in Divorce?

December 7, 2011 By Leave a Comment



529 College Savings Account

Thank you to my fellow CDFA, Kevin Worthley, from the Retirement Planning Company of New England, for this informative guest blog post below on 529 College Savings Accounts and some smart tips on dealing with them in divorce.  You can reach Kevin directly at Kevin(a)RetirementPlanningCo.com

What to Do with the 529 College Savings

Accounts in Divorce?

By Kevin Worthley, CFP, CDFA

With the emotional difficulty and new household arrangements, asset division is a major part of the divorce process and that can include a 529 College Savings Account.  The family house, other real estate, the family business and retirement/money accounts are all common assets that come into the settlement discussion or negotiations.

The so-called “Section 529” College Savings Account, similar in some ways to old ‘custodial trust’ accounts, is somewhat unusual in that only one person may be the owner or “Participant” of an account, (the child is usually the “beneficiary”).  The Participant retains full control and discretion over the account, its investments and, importantly in the case of divorce, technical ownership and the disposition of the money.

529 College Savings Account and Taxes

The implications of this are very important to the divorce settlement discussion.  First, whoever is the Participant legally owns the 529 College Savings Account, even though the contributions made to the account by gift, (including those by relatives, friends, etc) were intended for the beneficiary’s (student’s) college education.  Second, the Participant may empty the account and use the money for purposes other than the intended student’s college expenses, should the Participant so choose.  (Unlike custodial accounts, 529 College Savings Account do not become the property of the beneficiary at their age of majority (18 or 21)). Of course, there are IRS-imposed penalties and taxes for using the money for non-college reasons (10% penalty and Federal/State income taxes owed by the Participant on the appreciation (only) of the withdrawn money), but that aside, the Participant can do whatever he/she wishes with the account, including changing the beneficiary to another person.  The beneficiary, the contributors and even the Successor Participant have no say in the matter.

With these powers over the account and considering most 529 College Savings Account were created during the marriage (and therefore are usually considered marital assets) and are generally for the benefit of the children of the marriage, how the 529 account(s) are handled during the divorce settlement process can be tricky.  Depending upon whether the divorce is contentious or if there is a lack of trust between the parents, safeguards may need to be imposed on these accounts post-divorce to ensure the 529 account money goes toward the intended purpose; college expenses for the children.

How to Resolve the underlying issues of the 529 College Savings Account in Divorce?

To resolve this potential issue, parents (and their financial advisors or attorneys) should know that 529 College Savings Account can be split and divided between divorcing parents, where each parent would become the Participant of their respective account, and the one child-student can be the beneficiary of both accounts.  This is not considered a non-qualified ‘taxable event’ (will not incur taxes or penalties), since no actual distribution of account assets took place.  The change in “ownership” is similar to a change in named beneficiary.    Even though the account assets are actually intended for the child, splitting the 529 accounts in this manner may help with settlement negotiations.

Other divorce safe-guards that may be used to ensure the college money actually goes toward college expenses:

  1. The divorce decree could stipulate the non-Participant parent of each account be named as the Successor Participant.  Therefore, if the Participant-parent dies unexpectedly, the Successor-Participant parent immediately assumes ownership and control of the account rather than another non-parent person.
  2. Most investment account custodians have authorization forms that allow an “interested third-party” to receive regular statements and all notifications of changes to investments, sales, purchases and distributions from the account.  The divorce decree could stipulate that Participant parent of the 529 account agree to approve such authorization for the non-Participant parent.  This way, the parent who is not the owner of the account is still fully aware of all account activity, especially of non-qualified withdrawals or ‘draining the account’.  This is not an iron-clad prevention of such an event, but at least the non-Participant parent would know soon after that a withdrawal had occurred and can take steps to prevent further withdrawals or other action to recover the money for their child.
  3. The divorce decree might further stipulate agreement on the part of both parents that the 529 money be used solely for college costs.  Again, this may not actually prevent abuse of the account by the Participant-parent, but there may be a legal basis and liability for that parent to come up with the money needed for college that was taken improperly from the 529 account.

All of these points contain legal aspects, by the way, so be sure to consult qualified legal professionals as to how the laws in your state apply to these suggestions.  If you’re not sure how your college accounts should be handled in divorce, consult with a knowledgeable professional for your particular situation.

Kevin Worthley is a Certified Financial Planner® practitioner, a Certified Divorce Financial Analyst™ and an investment advisor representative of the Retirement Planning Company of New England, a Registered Investment Advisor, 1287 Post Road, Warwick, RI 02888.  He is also a registered representative of, with securities offered thru, Ridgeway and Conger, Inc.  Member FINRA/SIPC.  Office of supervisory control: 2123 Main St. New Woodstock, NY 13122, 315-662-7450.  RPC and Ridgeway & Conger are not affiliated.  Contact Kevin with questions at (800) 585-8696.  529 College Savings Account

divorce



Filed Under: Blog, CDFA, Children, College Planning, Dividing assets, Divorce Settlement, Parenting Tagged With: , , , , ,

For Arnold and Maria and other divorcing couples – How to do divorce right

May 17, 2011 By Leave a Comment



I just read a great article on huffingtonpost.com by mediator, Belinda Etezad Rachman, “Arnold and Maria’s next step.”  You can find it here.  This article talks about the challenges that Arnold Schwarzenegger and Maria Shriver are going to face in their divorce and how mediation might be a better option for them.  It’s ironic that I saw this post tonight after having a conversation with Joanne Donner, a fabulous mediator and fellow Board member at www.VisionsAnew.org this evening about this exact same subject – Why for some couples it can make perfect sense to use alternative resolution methods like mediation when getting divorced.

There are absolutely better ways to divorce, and mediation / financial mediation are among the top options for people who want to do divorce differently.  Whether it’s a high profile, high asset divorce situation or a typical, middle-class couple, many people are tired of the knock-down, duke-it-out dogma of divorce.  I am happy to be seeing a paradigm shift happening among the couples I work with as a Certified Divorce Financial Analyst to more peaceful and civilized divorces. It’s about time.

Understanding your options BEFORE getting divorced can go a long way to save your money, your sanity, and what’s left of the fabric of your family, in the process.  What path will you choose when getting divorced?  If you are already divorced, what path did you take and would you do it the same way if you had it to do all over again?



Filed Under: alternative dispute methods, CDFA, challenges, Divorce Settlement, mediation Tagged With: , , , , , , , ,

Get Information on the New Credit Card Rules

February 24, 2010 By Leave a Comment



Here is a good synopsis of the new Credit Rules that went into effect this week from the Federal Reserve.  http://tinyurl.com/new-credit-card-rules.  I have been blogging about the need for these reforms for some time now.  They are a step in the right direction, though the credit card companies were given a long head start to give many folks the shaft before the changes came.

Pay particular attention to the example given in the "How Long Will it Take to Pay off Your Balance" section.  Minimum payments will keep you indebted to the credit card companies for much of your life. 

Best bet, use your credit cards wisely… only for emergencies or if you know you can pay off the balance every month.  That way you can avoid the credit card crunch and pay yourself.  Just imagine what those minimum payments could be worth to you in retirement if you were able to invest that money for your future rather then having to pay it towards debt! 



Filed Under: Banks, Blog, CDFA, Credit Tagged With: , , , ,

My Case Study Published in a New Book!

February 23, 2010 By Leave a Comment



I’m very excited to have my case study on Credit Matters published in the new book, “Living Life After Divorce and Widowhood – Financial Planning, Skills, and Strategies for When the Unthinkable Happens,” by Maurcia DeLean Houck. I’m one of only 6 selected in the whole country to be featured in the book!  I hope you’ll check it out!!

 



Filed Under: Blog, CDFA, Credit, Mortgages, Real Estate Tagged With: , , ,

Government Assistance for Homeowners is a Farce!

February 15, 2010 By Leave a Comment



I wrote this email today to a reporter at the NY Times regarding his story that came out today and my experiences with my clients in regards to the govt. assistance programs mentioned in it.  http://www.nytimes.com/2010/02/15/business/15housing.html?th&emc=th  My email to him below.

_______________________________________________________________________

Mr. Streitfeld,

I am writing regarding your article today, U.S. Housing Aid Winds Down, and Cities Worry.  I saw that you made reference to the home owner assistance programs through the government.  I wanted to share with you my experience in dealing with these agencies and lenders.

I am a CDFA (Certified Divorce Financial Analyst) and I have been trying to help several clients navigate the murky waters of divorce in a down real estate market.  

When the government announced the home owner assistance programs I was very excited to be able to offer a ray of hope for those buried under the debt of fallen housing values.  What I have found instead is a front and a farce with these programs.

Because the lenders can choose whether or not to participate these measures have no teeth.  I have yet to find one lender who is willing to participate and in my conversations with other professionals that deal with the same matters we are all finding the same thing – little to no participation from the lenders or servicers of the loans.

In essence, it appears that the homeowners have been offered hope, but really there is nothing behind the curtain when it is pulled back. The HUD counselors have no authority to make anything happen either.

I have called my Senators offices, Johnny Isakson and Saxby Chambliss (Ga.) and emailed the White House several times about this to no avail.  Not one of them has returned my phone calls or emails.

No one in the media is talking about this as I don’t believe many are aware.  I am trying to get the conversation going because I truly believe that the institutions that were bailed out when they needed help are now stalling in the hopes that the programs will simply run out of time before anyone realizes what is going on.

Please do a follow-up story on this as families are losing their homes while the stalling game is played.

Thank you for your time and attention.

Lisa C. Decker, CDFA
www.DivorceMoneyMatters.com

________________________________________________________________________

I would love to hear your experiences with any of the government sponsored home owner assistance programs – HAMP,  HARP, H4H and their newest HAFA.  Please leave some comments below.  And be sure to contact your Congressmen, Senators and the White House to keep the pressure on to help the taxpayers who bailed out the big banks when they needed it!



Filed Under: Bailouts, Banks, Blog, CDFA, Credit, Mortgages, Real Estate Tagged With: , , , , ,

A reader’s question – Where to begin in divorce?

July 29, 2009 By Leave a Comment



 

Dear Lisa,

 

I just started thinking about divorce and really feel overwhelmed by it all.  Where would you recommend I begin?

 

K.S., Douglasville, Ga.

 

Dear K.S.,

 

I appreciate your question and concerns.  Know that what you are feeling is completely normal under the circumstances.  Change of any kind can be overwhelming.  Divorce and its challenges just compound those feelings. 

 

Let’s start by understanding that the number one biggest determining factor in how your divorce will proceed is the choice you make in how you will divorce. You may not even be aware that there are several paths available to you - mediation, collaborative divorce and of course, traditional litigation, which is the path that folks most commonly think of.

 

Begin by thinking of your divorce as a business transaction and conducting yourself accordingly.  Get educated, get organized and be a proactive partner with the members of your divorce team, whichever method you choose to use to get your best results.

 

I meet with clients on a weekly basis who echo these questions and concerns:

 

·         “I do not know anyone who has been divorced. What will my experience be like?”

·         “I have seen people get divorced. Not only was it a horrible experience, it was unbelievably expensive.  How can I do things differently?”

·         “I want to divorce amicably and still get my fair share. How can I achieve this?”

·         “I want this to be over with quickly.  I’m willing to just let my spouse have what they want so I can be done with it.”

 

This last statement is the one I hear most often.  It’s also the one that can be the biggest mistake and that may cause you the most regrets later on.  This statement is made from an emotional standpoint.   Understand that making decisions based on emotion will most likely cost you lots of money.

 

The best thing I can recommend is that you take some time to learn about your options and seek guidance and support where needed. Educate yourself and create pre-divorce strategies that will allow you to be in control of yourself and the process.   This will help you to save time, money and your sanity!



Filed Under: Blog, CDFA Tagged With: ,

Don’t Miss Tonight’s Teleseminar – Making Sound Divorce Decisions

July 28, 2009 By Leave a Comment



Don’t miss tonight’s teleseminar, Making Sound Divorce Decisions, hosted by member Rosalind Sedacca, founder of Child Centered Divorce Month taking place during the month of July.

Divorce can be very costly — both physically and emotionally. Join author and divorced mother of four Christina Rowe, founder of ChildSharing, Michelle Muncy and Divorce Financial Analyst Lisa Decker as they share insights about pro-actively planning your divorce to avoid the pitfalls of financial and psychological devastation — for you and your children.

Learn the success strategies for creating a win-win divorce before signing on the dotted line — and for the months and years that follow.

Here’s the Phone-Number to Dial: 201-793-0051 Use Conference ID: 588016#

Or use this link to listen on the web:
http://instantteleseminar.com/?eventid=8217561
(and ask questions in advance)

If you miss the call you can return to the above link to listen to the audio recording.

Be sure to also get your complimentary ebooks, coaching and other child-centered divorce-related gifts by visiting: http://childsharing.com/childcentereddivorce.
 



Filed Under: Blog, CDFA Tagged With: , ,
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