Divorce often means being thrust into a series of financial decisions that you may or may not feel prepared to make. And if divorce has brought you sudden wealth, financial professionals are likely crawling out of the woodwork to offer their services. How do you choose the right advisor for you? What resources are available to help you learn the basics of investing? What are some of the common challenges people face in your position?

Carole Epstein has been a licensed financial advisor with Morgan Stanley since July 2007. She began her career as a programmer and cut her teeth in investing during the ten years she ran a pension plan for the staff at her Apple store. Carole’s life experience raising a family and running a business make her uniquely qualified to understand her client’s needs and design a financial plan with their complete financial wellbeing in mind.

Today, Carole joins Katherine to explain her values-based process for crafting a financial plan, from prioritizing needs and wants to evaluating assets and risk tolerance. Carole discusses the difference between a transactional advisor and one who takes a more holistic approach, sharing her reasons for working with a team of vetted professionals. She offers insight around getting a basic financial education, dividing capital gains equitably in a divorce, and staggering the tax hit for clients making changes to an investment portfolio. Listen in for advice on navigating sudden wealth and employing a team of talented professionals who serve your needs.

Topics Covered

Carole’s unique journey to becoming a financial planner

Carole’s values-based process for making financial decisions

• Prioritize needs, wants

• Evaluate available assets, risk tolerance

The difference between a transactional vs. holistic financial advisor

Why Carole recommends assembling a team of vetted professionals

How to obtain a basic financial education

The decision-making challenges for people navigating ‘sudden wealth’

• Employ intellect over emotion

• Choose right advisor for you

Carole’s advice for divorced people new to financial decision-making

• Don’t take action until ready, knowledgeable

• Determine your level of risk tolerance

• Surround self with talented professionals

The equitable division of capital gains/loss in divorce

Carole’s staggered approach for making changes to an investment portfolio

Connect with Carole Epstein

Carole’s Website: https://fa.morganstanley.com/carole.r.epstein/index.htm

Call (914) 225-4859

Resources

Savvy Ladies: https://www.savvyladies.org/

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko: https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474

Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams by David Bach: https://www.amazon.com/Smart-Women-Finish-Rich-Achieving/dp/076791029X

Connect with Katherine Miller

The Center for Understanding Conflict: http://understandinginconflict.org/

Miller Law Group: https://westchesterfamilylaw.com/

Katherine on LinkedIn: linkedin.com/in/kemiller1

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller: https://www.amazon.com/New-Yorkers-Guide-Collaborative-Divorce/dp/0692496246

Email: [email protected]

Call (914) 738-7765