In this episode of Intentional Divorce Insights, Leah Hadley, a certified divorce financial analyst and accredited financial counselor, delves into the crucial steps needed to safeguard your financial future during and after a divorce. She provides a comprehensive guide on financial preparedness, breaking down the actions you should take to ensure financial security through this challenging transition.

Key Topics Discussed:

- Understand Your Current Financial Situation: It’s important to gather all financial documents and access current assets and liabilities.

- Income and Expenses: Determine your income sources, understand your spouse’s income, and track monthly expenses..

- Protect Your Assets and Credit: Monitor your credit report and protect it from unusual activities. Manage retirement and investment accounts and understand their division in a divorce. It’s important to have individual checking and savings accounts.

- Build a Financial Support Team: Leah discusses the role of a Certified Divorce Financial Analyst (CDFA), when to include an accountant and/or a financial adviser, and how to ensure your divorce attorney understands your financial goals.

- Post-Divorce Financial Planning: Create a new budget based on new income and expenses, understand tax implications and update your tax situation, review insurance coverages and ensure beneficiaries reflect your new circumstances.

In summary, it’s important to remain calm and focused on the long-term financial outcome. Seek guidance from professionals who can help you navigate the complexities of financial decisions in divorce. Careful planning and an understanding of your financial situation can set you up for future success.

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