In this episode of 'The Exit Strategy: Your No Bullsh$t Guide to Divorce,' hosts Elizabeth Stevenson and Sarah Hink from New Direction Family Law are joined by Jason Deshayes, CEO of Cook Wealth. They discuss the crucial role of financial planning and tax preparation in the context of divorce. Topics include tax liabilities, the importance of transparency in joint tax filings, handling separate and joint accounts, and the significance of consulting with CPAs and financial advisors. The episode aims to educate listeners on making informed financial decisions during and after a divorce, ensuring a smoother transition from victim to victorious and from bitter to better.
00:00 Spotting Financial Red Flags in Relationships
00:21 Introduction to the Exit Strategy Podcast
00:53 Meet the Expert: Jason Dehe from Cook Wealth
01:34 The Role of Spouses in Tax Preparation
02:38 Understanding Joint Tax Returns and Liabilities
03:37 The Importance of Financial Transparency in Marriage
04:08 Navigating Financial Conflicts During Divorce
05:22 The Benefits of Filing Taxes Separately
07:31 Managing Separate and Joint Bank Accounts
10:08 Handling CPA Conflicts During Divorce
13:59 Dividing Assets: Brokerage vs. Retirement Accounts
16:08 Navigating Financial Confusion
17:21 The Role of Financial Advisors
17:58 Tax and Wealth Management
18:30 Cash vs. Retirement Funds
19:26 Alimony and Tax Implications
21:16 Pre-Planning for Divorce
23:52 Financial Planning for Smaller Budgets
29:10 Services Offered by Wealth Management Firms
31:43 Conclusion and Contact Information