Wealthy After Divorce

In this episode, Jacqueline Roessler, CDFA® and her guest, Leah Hadley, CDFA® talk about divorce and supporting the unique concerns of stay-at-home parents. For any client who has been out of the workforce and dependent on their spouse’s income, financial fears can be a primary barrier to settlement. In fact, some people wait years to file for divorce simply due to that fear. Working with a CDFA (Certified Divorce Financial Analyst) as a “thinking” partner can provide insight on the process and teach clients how to analyze the financial decisions they’re facing with confidence. 

 We will discuss:

• The importance of understanding all the financial options as it relates to the house
• Making sure you don’t sacrifice your retirement well-being
• Funding for children’s extra-curriculars, private school and college costs

 RESOURCES

• Read more about Leah’s firm or connect with her on social media, HERE
  • IG: https://www.instagram.com/watchherthrive/
  • LI: https://www.linkedin.com/in/leahahadley/
  • FB Page: https://www.facebook.com/greatlakesdfs
  • FB Group: https://www.facebook.com/groups/watchherthrive 
• Download Leah’s Divorce Checklist to get organized before reaching out to a professional  HERE
•  Sign up for Leah’s “Financial Freedom” Webinar HERE
• Find out how Jacki Roessler, CDFA® advocates for divorce clients during the divorce process by scheduling a complimentary 30-minute initial consult  HERE 
• Download Jacki's Budget Worksheet HERE

  Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial adv&a

Thinking about digging in and skipping legal advice in your divorce? In this episode, Jacqueline Roessler, CDFA® discusses the dangers of the new “DIY” divorce trend. Jacki addresses the main reasons clients object to hiring an attorney and walks the listeners through her opinion on why having legal expertise during divorce is critical to a good outcome.

 We will cover:

• The main benefits of working with an attorney
• Tips for saving money on your legal fees during divorce
• Jacki’s short list of suggestions to improve the client/attorney relationship during divorce

 Resources:

 ·        Contact Jacki via email at [email protected]

·        Read Jacki’s recent blog on How Spousal Support is Decided in Michigan  CLICK HERE to read now

·        Find out how Jacki Roessler, CDFA® advocates for divorce clients during the divorce process by scheduling a complimentary 30-minute initial consult  https://calendly.com/jacki-divorceplanner/get-to-know-you?month=2022-12&back=1

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Dividing property during a divorce can be a contentious topic for many couples. Today our guest is Family Law Attorney and Mediator Alisa Peskin-Shepherd. Alisa specializes in looking at what is presented to her as well as what is possible while practicing family law and conflict resolution. She will share her best practices for those navigating property issues during divorce. 

 Resources:

• Listen to Alisa discuss Collaborative Divorce with Melissa Joy, CFP, CDFA in a throwback episode of our sister podcast, "52 Pearls" by clicking here.
• Find more information on  Alisa Peskin-Shepherd HERE.
• Connect with Jacki Roessler and learn more about Divorce Financial Planning at Pearl Planning.

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Finding footing and choosing next steps to live your best life after divorce can be overwhelming. Today our guest Nicole Middendorf, CEO of Prosperwell Financial, will be discussing how to live life to the fullest after divorce. Nicole is a born coach, entrepreneur, accomplished public speaker, author of 5 books and believes that sometimes out of the worst things in life sometimes comes the best. Nicole will share her experience navigating her own divorce and the path to a better future.

 Resources:

• Find out more about Nicole Middendorf and Prosperwell Financial.
• Connect with Melissa Fradenburg and learn more about Divorce Financial Planning at Pearl Planning.

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Getting a divorce when one (or both) parties own a business adds an extra layer of ambiguity. Most often in these situations, the attorneys will recommend hiring an expert to place a value on the business. However, clients often feel unsure about the importance of taking on this added expense and effort. Jacqueline Roessler, CDFA is joined by business appraiser, Ben Bershad to provide clarity on the valuation process and why it’s essential to a divorce with transparency. In addition, Ben discusses the business appraiser’s critical role in determining the owner’s income for purposes of child and spousal support. 

We will discuss:

• Why you need a business appraiser who is local and specializes in divorce
• The two main roles of the business appraiser in divorce-and the one role that isn’t
• Taking the emotion out of business appraisals in divorce
• What goes on in the “room where it happens” when dueling business appraisers help attorneys and clients hash out a compromise?

Resources:
·        Read more about Ben’s firm, Bershad Valuation Consulting HERE
·        Contact Ben Bershad, ABV, CVA at [email protected]
·        Find out how Jacki Roessler, CDFA® helps divorcing clients with a business by scheduling an initial consult by clicking this link  https://calendly.com/jacki-divorceplanner/get-to-know-you?month=2022-12&back=1
·        Learn more about Business Appraisals and Divorce At Family Lawyer Magazine Here

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

In this episode, Jacqueline Roessler, CDFA® explains the QDRO process for post-divorce clients. Clients are often overwhelmed and confused by the length of the time it takes to put QDROs in place. Additionally, clients are confused about who plays what role in getting to the QDRO finish line and why it’s important to be proactive.  If you’re wondering “where’s my money?”, this episode will point you in the right direction.

We will cover:

• What is a QDRO and why do you need one? 
• The many stages of getting your QDRO processed 
• When you can expect to receive your money

Resources:

• Contact Jacki via email at [email protected]
• Read Jacki’s blog on QDRO timing HERE.
• Find out how Jacki Roessler, CDFA® advocates for divorce clients during the divorce process by scheduling a complimentary 30-minute initial consult HERE.
• As a companion to this episode, download our QDRO Process Flowchart by clicking  here: https://pearlplan.com/wp-content/uploads/2023/01/QDRO_Process_Pearl_Planning.pdf 
•  Read the US Government’s Accountability Office’s Recommendation on the processing of QDROs after divorce HERE.

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Finding a health plan can be overwhelming and there is more to shopping for health insurance than just finding the lowest premium. This weeks’ guest, Anthony Fracchia, President, and CEO of Altruis Benefit Consulting will be discussing the process of purchasing health insurance after divorce. Anthony co-founded Altruis Benefit Consulting with his father in 2002, creating a business model that revolves around helping businesses, families, and individuals understand their benefit options and educating them on the differences. Altruis Benefit Consulting is one of largest producers of individual health insurance in the state of Michigan. Anthony will share why you should consider all options like available subsidies or tax credits before the final decree is signed, and why it is important to consider what your family’s actual needs will be as far as medications, specialist visits and treatment rather than just the bottom line on your monthly premium.

 Resources:

Find out more about Anthony Fracchia and Altruis Benefit Consulting. 

Connect with Anthony Fracchia on LinkedIn.

Read Altruis Newsletter about open enrollment HERE.

Find out more about changes to health insurance since the Affordable Care Act HERE. 

Connect with Melissa Fradenburg and learn more about Divorce Financial Planning at Pearl Planning.

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

In this episode, Jacqueline Roessler, CDFA® sits down with family law attorney Jorin Rubin to get the inside scoop on spousal support in Michigan divorce matters.  Following law school, Jorin worked for the United States Attorney's Office in New York in the civil division. Using that experience as the foundation of her private practice, she broadened her focus to the areas of criminal and family law. She has been practicing in Michigan since 2002.  An aggressive litigator in both civil and criminal matters, Jorin knows when a fair and reasonable agreement has been reached and when to engage in litigation “warfare.” Her clients also appreciate her empathy and sense of humor which she brings to all her cases.

We will discuss:
•How Spousal Support is determined in Michigan divorces
•The four most important factors considered in spousal support
•Pros and Cons of Modifiable vs. Non-Modifiable support

Resources:

• Read more about Jorin’s firm, Rubin Frampton HERE
• Contact Jorin Rubin at [email protected]
• Read about Jorin’s selection as a prestigious SuperLawyer HERE
• Listen to this podcast on why developing a budget is so important HERE
• Book an intro appointment with Jacki Roessler, CDFA HERE

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Social Security rules and calculations are confusing for everyone. Being divorced doesn’t make it simpler. The good news is Social Security representatives can make it easier. We go to the source with our guest, Vonda VanTil, the public affairs specialist for Social Security servicing Michigan. Jacki Roessler and Vonda get into the nitty gritty of Social Security rules for divorced spouses - in plain English. 

We will discuss:

• What are Social Security former spouse benefits?
• Do you meet the age and marriage length requirements?
• When can you begin collecting benefits?
• Little known filing trick to maximize benefits
• Effects of remarriage

Resources:

• Sign up for your own Social Security account Here
• Learn more about Social Security Divorced Spouse Benefits Here
• Schedule an appointment to discuss your benefits with your local office by calling 1-800-772-1213 (TTY 1-800-325-0778)
• Find out how Pearl Planning assists post-divorce clients transition to a successful and purposeful post-divorce life. https://pearlplan.com/financial-planning-services/financial-planning/
• 2022 Year-End Tax Tips for Divorcing Clients: CLICK HERE FOR A QUICK READ

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.

Getting through a divorce (well) often takes a village. In fact, gathering an experienced team of professionals, each specializing in divorce can either make or break a smooth transition to post-divorce life. In addition to a divorce attorney and a divorce financial planner, adding a realtor who specializes in divorce can be a time and money saving addition to the team. In this episode, Jacki interviews Jodi Douglas, a local realtor who has created a unique process designed specifically for working effectively with divorced and divorcing clients. 

We will discuss:

• The emotional attachment to the house as a “home” versus an asset to be sold
• The pros and cons of making repairs before listing the home for sale
• Developing a united front with both clients and their lawyers when selling the marital home
• Treat your buy-out as a new purchase
• Figuring out if you can afford the home before your ask to keep it
• First year is an adjustment period-get a home warranty

Resources:

• Find out more about Jodi Douglas CLICK HERE FOR JODI'S WEBSITE
• Contact Jodi L. Douglas, MS, CNE, RCS-D at 734.660.5060 (Cell) | 734.761.6600 (Office)
• Mindful Divorce Page: https://www.mindfuldivorceconsultinggroup.com/advisors
• Find out how Pearl Planning assists post-divorce clients transition to a successful and purposeful post-divorce life. https://pearlplan.com/financial-planning-services/financial-planning/
• 2022 Year-End Tax Tips for Divorcing Clients: CLICK HERE FOR A QUICK READ

Links are being provided for information purposes only. We do not suggest that listening to this podcast will make you wealthy. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax or legal position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Pearl Planning financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.