What areas of your finances should be considered when dealing with divorce? In this episode, I’m going to unpack the most essential things you need to know, whether you are starting to consider a divorce or are in the midst of one. This is never an easy time to deal with finances, but today I'm covering the key things that can make a painful time a little less difficult for you and your family.
Listen in to learn what areas to pay particular attention to, as well as how to deal with a few common issues that tend to crop up. You'll come away with the tools you need to navigate the financial aspect of this tough time, an understanding of what typically happens with property and assets, and more.
Listen To The Episode Here:
What You’ll Learn:
What generally happens with property and assets.
How different states tend to handle financial matters.
How debt is handled in a divorce, depending on the state.
What to do with your accounts and mortgage.
Where 401(k)s and estate planning come in and how to handle those in a divorce.
One of the most common things people forget when going through a divorce.
Ideas Worth Sharing:
- “Debt survives a divorce and how it is treated will depend on whether you live in a common law or community property state.” - Regina McCann Hess
- “Once you get through a divorce and it’s finalized, you want to have your accounts reclassified as individual accounts by your creditors and other asset holders.” - Regina McCann Hess
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