Posts filed under ‘finances’
The Finances of Divorce
A client came into my office the other day in tears. She was just about to sign papers to purchase her new home, but was now feeling unsure of her decision. My client was in the middle of negotiating her financial agreement and wanted to prepare herself for the fresh start she desired once her divorce became final.
After a few more tears and 30 minutes of talking, she began to understand how the “emotional divorce” could impact “the legal divorce.” What this means is that there are two sides of divorce to wade through — the emotional and the legal. Divorce is upper-case Emotional, and if not managed properly, it can wreak havoc on the legal process and financial outcomes. While it would be really nice if the two elements could be handled one after the other — you could spend a few years dealing with the emotional issues, and then, heart and head clear, go through the legal process — but the truth is that emotions and legal processes cannot be clinically separated, and usually have to be managed at the same time.
To read the rest of my article which appeared on The Huffington Post, click on the link
http://www.huffingtonpost.com/deborah-moskovitch/the-finances-of-divorce_b_1214050.html
January 20, 2012 at 2:31 am
Our guest, Lisa Decker (www.DivorceMoneyMatters.com) who is referred to as Miss Money Matters ® - is the CEO and founder of Divorce Money Matters®. Ms. Decker is an expert in divorce financial matters, and a discreet problem-solver who guides her clients to “Divorce Your Spouse, Not Your Money®.” She has been interviewed by CNN, Good Morning America, NY Times, Business Week, CreditCards.com, ForbesWomen.com, and Oprah magazine.
The finances of divorce and how they are managed and worked through during the divorce process can significantly impact your post divorce future. Tune in to understand the most common mistakes and what you can do to avoid them.
Topics in this program include:
- How to make decisions based on facts, not emotions
- How to create a realistic post-divorce budget
- The impact of joint debts
- Protecting your income streams
- Considering the long-term consequences of your choices
- Developing your dream divorce team
To listen in click on the link:
November 9, 2011 at 8:35 pm
Nobody marries with the expectation of divorce–but as many as five out of ten marriages end up that way today. With these statistics in mind, a growing number of women are taking steps to prepare for the worst. It’s a growing trend among happily married women that has some men fuming. CBS 2′s Maurice DuBois reports.
Jeff Landers talk about protecting you assets.
http://newyork.cbslocal.com/video/6108555-idea-of-divorce-101-angers-many-happily-married-men/
To learn more about preparing yourself financially, you won’t want to miss this interview on The Smart Divorce on Divorce Source Radio.
Our guest, Jeffery Landers advocates for women. Jeff is a Divorce Financial Strategist and the founder of Bedrock Divorce Advisors, LLC, a divorce financial strategy firm that exclusively works with women, who are going through, or might be going through, a financially complicated divorce. Jeff reviews the Top 6 Serious Financial Mistakes Women Make. But, men can learn some valuable lessons here as well. Jeff advises “put your emotions on the side and think financially.”
Topics in this program include:
- The top 6 serious financial mistakes made during divorce
- The important steps to organize your finances and maintain control
- Preparing for your financial future
- Financial considerations to ensure long term financial stability
- How to avoid divorce settlement mistakes
- Divorce proofing your business
Click on the link to hear this very informative discussion
http://www.divorcesourceradio.com/how-women-can-avoid-making-serious-financial-mistakes-before-during-and-after-divorce/
August 9, 2011 at 5:09 pm
Introducing The Smart® Divorce Resource Toolkit
The Smart Divorce® Resource Tool Kit is now available, order yours today– one easy phone call or email, to get this valuable resource. It’s one of the most comprehensive programs providing a full overview of the divorce process — and endorsed by judges, lawyers, and mental health professionals. The Smart Divorce Resource Toolkit will help you make smart decisions for you and your family – taking you through the entire divorce process, removing the mystery and misconceptions about the outcomes of divorce, how to cut down on your legal bills and so much more.
This comprehensive resource provides an understanding of all aspects of the divorce process; helping you understand the two sides to your divorce – the “emotional divorce” and the “legal divorce”
Move through your divorce with focus, hope and confidence.
The Smart Divorce Resource Toolkit makes the divorce process easy to understand, helping you to be strategic while making sound, smart decisions. After all, information is knowledge and knowledge is power.
Call 905 695 0270 or email info@thesmartdivorce.com to get your copy of The Smart Divorce Resource Toolkit.
Included in The Smart Divorce Toolkit are tips, strategies and ideas, packaged as never seen before. This smart toolkit comes with:
The Smart Divorce Resource Toolkit is designed specifically to meet your needs — to help reduce stress, educate and inform you about the divorce process in a cost effective, easy to understand way. Guidance and information from leading family law lawyers, mental health professionals, and parenting experts well versed on the needs of those in the divorce process are included. And, it’s put together in one smart package, making it uncomplicated, and effortless to understand.
The Tool Kit contains 4 CDs covering the myriad of issues, concerns and questions most people have about divorce – removing the mystery, complexity, and confusion about divorce. Also included are Smart Guides which add another layer of detail to The Smart Divorce Audios, and provide a step by step plan for going through the divorce process.
The Smart Divorce Audios.
These unique and informative CDs provide tips and strategies to help navigate this difficult time, educate listeners about the divorce process and provide practical information on getting through it with focus, hope and confidence.
- Audio 1 – The Emotional Divorce
- Audio 2– The Legal Divorce
- Audio 3 – Smart Co-Parenting: Putting Your Children’s Best Interests First
- Audio 4 – Rebuilding Your Life Post Divorce
Smart Guides.
Tip sheets that support the information in the audios providing detail and understanding of the specific topic.
Smart Guides:
- Planning for a Smart Divorce
- Getting Your Finances Organized for Divorce
- Coping with the Stress of the Emotional Divorce
- Coping with Stress in a High Stress Environment
- Understanding Your Divorce Options
- Finding a Good Divorce Lawyer
- Smart Co-Parenting
- Living Separate and Apart
- Strengthening the Blended Family Bonds
- Divorce Financial Check List
- Understanding Marital Property Laws
- Important Financial Steps Required to Prepare for Divorce
Don’t delay, order your kit today
Call 905 695 0270 or email info@thesmartdivorce.com to get your copy of The Smart Divorce Resource Toolkit.
June 14, 2011 at 12:33 am
I am pleased to announce the launch of a new product called: The Smart Divorce® Resource Tool Kit. The purpose of the Tool Kit is to provide organizations, lawyers, mental health professionals and others in the divorce arena with a resource to help their employees and clients divorce with focus, hope and confidence. The Smart Divorce® Resource Tool Kit is one very smart package developed specifically to meet an individual’s needs.
This valuable Tool Kit is designed to reduce stress, educate and inform about the many aspects of the divorce process, and is cost effective and easy to understand.
Divorce or a breakdown of a co-habitation relationship is an extremely emotional process. While divorce is a personal matter the emotional impact can spill over into the workplace suddenly making it a public affair. There are so many unknowns about divorce that people are often confused, filled with fear and unsure of how to navigate the process. In an effort to better heal and deal with divorce process privately, many individuals seek therapeutic counseling. However, not all therapists are equipped to help their patients understand the specifics of divorce to alleviate many of their concerns i.e. the legal process, financial impact or custody and access issues. As a result, an individual’s world is temporarily turned upside down, triggering unsettling and distressful emotions. The effects of the emotional distress in the workplace can be devastating.
On a classic rating scale of stressful life events, divorce consistently ranks No. 2–second only to the death of a spouse or child. The process of getting divorced is an emotional roller coaster which can impact people’s ability to be mindful on the job. Although divorce is primarily a personal heartbreak, the effects spill into the workplace; at the extreme – costing one to lose their job – not to mention a good portion of their wealth, and it can even affect the organization’s reputation. People often feel overburdened and lack confidence; it is not surprising how many buckle under the pressure.
It is well documented that divorce reduces worker productivity. If one were to do a cost benefit analysis of the effects of divorce in the workplace, one would find that the financial costs to the organization can be enormous.
I understand only too well how devastating the emotions of divorce can be, taking over the legal process while wreaking havoc on one’s career, causing a meltdown on so many fronts, and the difficulty in overcoming the challenges of raising children on your own. It is for these reasons that I created The Smart Divorce® Resource Tool Kit. I know how important it is to treat your divorce as a business transaction, and arm yourself with as much information as possible.
The Smart Divorce Resource Tool Kit includes:
The Smart Divorce Audios. These unique and informative audios provide tips and strategies to help navigate this difficult time, educate listeners about the divorce process and provide practical information on getting through divorce with clarity.
- Audio 1 – The Emotional Divorce
- Audio 2– The Legal Divorce
- Audio 3 – Smart Co-Parenting: Putting Your Children’s Best Interests First
- Audio 4 – Rebuilding Your Life Post Divorce
Smart Guides. 12 very valuable tip sheets that support the information in the audios and cover other important issues; providing detail, strategies and tips for managing a specific divorce related topic.
In addition to the extensive information available in The Smart Divorce Resource Tool Kit, some organizations may also find it beneficial to offer workshops. These presentations will provide greater clarity about divorce and managing through the process, in an effort to minimize stress, while maximizing an employee’s attention at work during this often distracting time.
The Smart Divorce® facilitator guided workshop
- Workshop 1- The Smart Divorce. A 1 ½ hour overview of the divorce process based on the book, The Smart Divorce. The divorce process in explained in broad terms, while providing an understanding of the emotional divorce and the legal divorce
- Workshop 2- Strengthening the Blended Family Bonds. A one hour presentation focusing on considerations when blending families.
Note: Each workshop includes PowerPoint presentation and facilitator script.
Don’t miss out on the introductory offer and save $50 when you place an order a minimum order of 10 kits. Or, try it out and order just one Toolkit.
For more information click on the link. To learn more about this unique and innovative program, and how it may help your organization or practice, please contact Deborah Moskovitch at info@thesmartdivorce.com.
The Smart Divorce Resource Tool Kit _ Flyer
May 27, 2011 at 5:37 pm
Tune into the Smart Divorce on Divorce Source Radio to hear this very informative interview with financial strategist, Jeff Landers. Although Jeff’s clients are women, the information contained in this interview is helpful for men as well.
Our guest, Jeffery Landers advocates for women. Jeff is a Divorce Financial Strategist and the founder of Bedrock Divorce Advisors, LLC, a divorce financial strategy firm that exclusively works with women, who are going through, or might be going through, a financially complicated divorce. Jeff reviews the Top 6 Serious Financial Mistakes Women Make. But, men can learn some valuable lessons here as well. Jeff advises “put your emotions on the side and think financially.”
Topics in this program include:
- The top 6 serious financial mistakes made during divorce
- The important steps to organize your finances and maintain control
- Preparing for your financial future
- Financial considerations to ensure long term financial stability
- How to avoid divorce settlement mistakes
- Divorce proofing your business
Click on the link to hear Jeff share help you through the finances of divorce:
http://tinyurl.com/Jeff-Landers
March 16, 2011 at 9:37 pm
Learn more about being smart about divorce with Deborah
Hear Deborah talk about The Smart Divorce
I was interviewed about The Smart Divorce and dealing with the many issues surrounding divorce with host Christine Williams of On The Line
Click on the link to watch the interview which aired on April 19, 2010.
You’ll hear a lot of information about getting through divorce, some personal stories, and guidance about the divorce process.
http://ctstv.com/ontario/player.php?ctsvidID=17595&show=On%20The%20Line
ON THE LINE with Christine Williams has been recipient of six prestigious international awards. The program features current affairs issues and in-depth discussions about a range of topics with authors, experts and advocates.
April 20, 2010 at 10:52 pm
Taking Charge of Your Separation and Divorce
impact – options – opportunities
I was part of a “one stop” information panel of experts discussing the emotional, legal, financial, and child aspects of divorce. I thought the handouts provided would be very helpful…….the information if provided both within this post, as well as attached within a pdf.
Being smart about divorce means arming yourself with as much information as possible…..here’s a start.
THE SMART DIVORCE®
Handout- The Smart Divorce
What is A Smart Divorce?
The Smart Divorce process will help you to:
- understand the “emotional divorce” versus the “legal divorce”
- understand the various dispute resolutions available
- make informed decisions
- minimize the financial, legal and emotional stress
Be SMART about your divorce.
State your goals and objectives at the beginning. Make sure these are realistic.
Maximize your information and knowledge base.
Avoid reacting to your emotions.
Retain the best possible divorce team your budget allows.
Treat your divorce as a business transaction.
How to start The Smart Divorce
- Develop your support network – therapist/supportive counselor, support groups, clergy, divorce consultant and friends.
- Choose your lawyer carefully – interview 3 family law lawyers.
- Be informed. Understand the dispute resolutions: Do-It-Yourself; Negotiation; Mediation; Collaborative Family Law; Arbitration; Litigation; private companies who offer divorce mediation/resolution.
- Put your children’s best interests first.
- Hire the right team of professionals based on your needs – parenting expert; financial adviser and others.
- Get your finances in order.
- Stay organized – create your divorce notebook and divorce journal.
- Have a vision for how you want your life to unfold and develop strategies to get there.
You may contact Deborah by email at info@thesmartdivorce.com
or, by calling her office at 905.695.0270
Deborah Moskovitch is a divorce consultant and educator, and author of The Smart Divorce: Proven Strategies and Valuable Advice from 100 Top Divorce Lawyers, Financial Advisers, Counselors and Other Experts. Deborah has become an opinion leader in the media and has shared her insights and research on television and radio to explain that divorce can be managed in smarter ways.
Copyright ©2010 The Smart Divorce® and Deborah Moskovitch
All rights reserved. No portion of this material may be reproduced in any form without the express written permission of Deborah Moskovitch and The Smart Divorce.
Legal considerations
“Taking Charge of Your Separation/Divorce”
Handout – Legal considerations
Presentation by:
Wendy E. Best, Q.C.
Dunphy Best Blocksom LLP
February 25, 2010
1. Custody/parenting
(i) shared
(ii) joint
(iii) sole
2. Child Support
(i) Federal Child Support Guidelines
(ii) Alberta Child Support Guidelines
(iii) base table support
(iv) Section 7 expenses
(a) child care expenses incurred for employment, illness or education
(b) medical/dental insurance premiums re: child
(c) health/dental expenses over insurance by at least $100/year (ortho, counselling, physio, drugs, glasses)
(d) extraordinary expenses for primary or secondary school
(e) post secondary expenses
(f) extraordinary extracurricular expenses
(v) split custody
(vi) shared custody (40% of time)
(vii) incomes over $150,000
(viii) undue hardship
(ix) retroactive
(x) disclosure
3. Spousal Support
(xi) Divorce Act
(xii) Family Law Act/Adult Interdependent Relationships Act
(xiii) Spousal Support Advisory Guidelines
(xiv) entitlement
(xv) periodic
(xvi) lump sum
(xvii) combination
4. Property
(i) What is property
(ii) unmarried: constructive trust/unjust enrichment
(iii) married: Matrimonial Property Act
(a) exemptions
(i) gifts from third parties
(ii) inheritance
(iii) owned before marriage
(iv) damages in tort
(v) insurance policy (not re: property)
(b) increase in value of exempt property – 13 factors
(c) transfer into joint names
(d) all other property acquired – presumption of equal sharing
(e) property (assets/debts) acquired after separation or changes in value
(f) gifts or non bona fide transfers
(g) exclusive possession of matrimonial home
5. Miscellaneous/Common Misunderstandings
(i) divorce
(ii) legal separation
(iii) abandonment
(iv) conduct
(v) what to expect/ask in your first consult
Financial Considerations
7 Secrets to a Successful Divorce
Handout- 7 Secrets to a Successful Divorce
Divorce demands financial decision-making that will alter the rest of your life. Most people have no knowledge of the specifics of the finances of divorce. Most people are too emotional to make sound financial decisions regarding their future. Quite often poor choices are made, choices that are permanent. You must educate yourself on the finances of your divorce.
We have a deep and personal understanding of the financial implications of divorce. At Alberta Divorce Finances, we empower men and women going through divorce by educating them on the financial and tax implications of the decisions that they will make in their own divorce.
A 50/50 Property Split is Not Always Equal
What do you need to know to ensure that your settlement is both fair and equitable?
- 1. Money will almost always become an issue in divorce
- 2. Understand that a 50/50 division of property is not always equal
- 3. Make sure that you can afford to keep the house before you settle this matter
- 4. Understand the “true” value of your investments and RRSPs
- 5. Ensure that Pensions are valued properly.
- 6. Ensure that the payor of child and/or spousal support has Life Insurance to fulfill future support obligations.
- Many divorce decisions have implications for your tax return
Divorce is a very difficult and very emotional time and bad decisions are made under stress. You must become educated on “what you need to know” about the finances of your divorce.
Visit: Alberta Divorce Finances.com
Child Considerations
HELPING KIDS THROUGH SEPARATION/DIVORCE:
Handout – HELPING KIDS THROUGH SEPARATION
v The way in which parents manage their separation/divorce impacts their children; each individual can
make a difference by their OWN choice of behaviors
v In separation/divorce, co-parents need to shift their former intimate relationship to that of neutral
business associates linked for the long-term in the “business of co-parenting”
v Children’s needs and feelings should be a priority; they require reassurance that they are loved by
both parents and belong to both parents and extended families
v Giving kids permission and opportunities to be attached and to maintain relationships with both
parents/families is important to their well being and growth/development
(*some exceptions: family violence, substance abuse, profound mental health issues)
v Conflict is typically a part of separation/divorce; how it is managed has an impact on outcomes for
children; kids need to be kept out of “adult issues” including parent conflict and encouraged to regain
and resume their own life pursuits to meet their developmental ages/stages
v Most often children view separation/divorce differently than the adults involved as they do not always
see it as a way of improving their life; parents can be sensitive to this difference in perspective
v Children need understanding and guidance to manage and communicate their unique feelings and
behaviors through the process of separation/divorce
v Shame, blame and embarrassment are feelings that children may express; they need reassurance and age
appropriate explanations that separation/divorce is not their fault
v Attention to the variety of loss/grief reactions of both adults and kids is important through
separation/divorce; Examples: sadness, anxiety, fear, anger and feeling physically unwell
v Parents may be less available for their children particularly in the first year of separation/divorce
(“diminished parenting”); this may negatively impact kids outcomes as they need their parents most at
this time of change and transitions
v When possible, minimizing and “pacing” the multiple changes in their lives as a result of the
separation/divorce is helpful for kids; strive for predictability and routines
v Transitioning between two households can be difficult for some children; each parent can help their
children to manage this challenge with sensitivity, organization and support
v A Parenting Plan is an essential working document that helps provide a framework for adults and
children to manage the separation/divorce; a detailed plan that is reviewed regularly helps address the
family’s changing needs
v An individual’s influence and/or control with their co-parent is typically limited; their focus and energy
is better placed on developing a consistent life with their children in their own home
(Sandy Shuler, B.S.W., R.S.W., C.C.F.E. 2010. Reproduction only by permission. Sandy is the Co-author of the established “Effective Co-Parenting: Putting Kids First” program; Co-author of “Groupworks: training for small group facilitators” Developer of the “Fairway Divorce Solutions Nurtured Children Parent Education Seminar”;
Sandy is Director/Consultant of Family Life Works Inc.; www.familylifeworks.ca; 403-540-5608)
April 13, 2010 at 9:08 pm
Taking Charge of Your
Separation/Divorce
impact – options – opportunities
Space is still available in a very unique seminar on separation /divorce. This is a “one stop” information panel of experts for individual, families and experts; featuring presenters:
Deborah Moskovitch, Author, Speaker, Divorce Consultant:
“The Smart Divorce”
“A Team Approach To Managing The Issues of Divorce”
Wendy Best, Q.C.: Senior Partner, Dunphy, Best, Blocksom, LLP
“Consideration Of The Legal Issues”
Sharon Numerow, CDFA™, Tax Consultant: Alberta Divorce Finances Ltd.
“Why a 50/50 Property Split is not Always Equal – 7 secrets to a successful divorce”
Sandy Shuler, Social Worker, Certified Family Educator: Family Life Works Inc.
“Effective Co-Parenting: Putting Kids First”
EDUCATION▪▪STRATEGIES▪▪RESOURCES▪▪BOOK DISPLAY
SPONSORED BY: Calgary Family Services & Deer Park United Church
SUPPORTED BY: Dunphy, Best, Blocksom LLP
This seminar is appropriate for individuals contemplating or already experiencing a divorce. You will learn strategies for a smart divorce, understanding your legal options, financial considerations, and putting your children’s best interest first. Participants will learn what to expect legally and emotionally, and so be able to move through the process with confidence and focus while saving time and money.
Click on the link below for more information
Calgary – TakingChargeofYourSeparationDivorce2
Program details:
When: February 25, 2010
Location: Deer Park United Church – 777 Deer Point Rd. SE, Calgary Alberta
Time: 7 – 9:30 P.M.
To register, or for more information contact: Calgary Family Services at 403 204 5244
January 25, 2010 at 9:35 pm
Have you hear about the radio show on Newstalk 1010 CFRB, “Guy Talk”? You can hear it live on Sunday evenings from 9 pm-10pm.
“Guy Talk is a radio show that deals with psychological issues which modern men face. The underlying premise of Guy Talk rests in the question: Why Won’t Men Grow Up? The creator/hosts of Guy Talk are Dale Curd and Stuart Knight.
I’ve been invited to speak about The Smart Divorce and how to navigate the divorce process. November 1, 2009. Tune in and feel free to call in with your views at 416 872 1010. Although this show is targeted towards men, women are invited to call in as well. I would be interested in hearing your perspective as we discuss the many issues divorcees are confronted with.
October 23, 2009 at 7:05 pm
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