Don't Become a Financial Victim

Whether or not you anticipate a divorce you should understand your financial picture and keep copies of all important financial records such as account statements for all assets and statements from all creditors. Watch cash in joint checking, brokerage accounts or cash value of life insurance so you understand your position as all times.

Recognize Your Common Enemy….the I.R.S.

Work together with a divorce financial planner or tax accountant to minimize the total taxes you and your ex will pay during separation and after divorce and share the money you save. Both parties are liable for taxes due as a result of audits on joint returns. Tax consequences also need to be considered when analyzing any settlements.

Use Computer Models to Evaluate Settlement Proposals

If you are trying to decide whether a divorce settlement is equitable and workable, you certainly want to know how you will be doing financially 3, 5 or 10 years down the road. There are many interactive factors you must consider including assets, incomes, budgets, maintenance and child support, taxes, retirement plans, investments and educational expenses. Specialized divorce computer models produce comprehensive and realistic analyses of your post-divorce lifestyle. This model should also include tax implications of any settlement.

Don't Use Your Divorce Lawyer as a Financial Planner, Real Estate Agent or Therapist

Attorneys generally charge $200 to $300 per hour and are not skilled therapists or certified financial planners. If you need emotional support, career counseling, financial analysis or real estate advice utilize qualified professionals and save big money in lawyer's fees.  

Develop a Post-Divorce Financial Plan

It is key to produce a realistic budget needed at the initial separation and through the divorce settlement. Many people start their post-divorce lives not fully understanding that their settlement must last a significant amount of time and in some cases the rest of their lives. Financial planning can help people transition from married to single lifestyle by prioritizing financial goals, developing realistic expectations and producing written plans for allocation of financial resources. Use experts in the area of financial and real estate planning to set up a plan that works for your individual situation.

Product

Real Estate Services through Rogliano Real Estate and Support/Community Services through Wildflower Group.

Bio

Joan Rogliano has been a Realtor® for 26 years and is the Broker Owner of Rogliano Real Estate Group.  She specializes in counseling women going through divorce.  She is also the founder of Wildflower Group, an organization that empowers women going through divorce, or other transitions, by providing practical information about personal finances, real estate, self care and creating a sense of community.

Contact Information

Website: www.roglianorealestategroup.com, www.wildflowergroup.com
E-mail: Joan@roglianorealestategroup.com
Phone: 303-667-5485