Staying Financially Secure When You’re Splitting Up

Chris Schiffer, MBA, CFP®, CPA,  AIF® was quoted in USA Today in the article Divorce: “How to stay financially secure when you’re splitting up” by Janna Herron that discusses important financial considerations during a divorce. Some key considerations:

  • Create a post divorce budget
  • Consider downsizing
  • Manage costs
  • Consider the tax implications (there are planning strategies that can save money)
  • Update beneficiaries on 401k, IRA, insurance and other accounts
  • Get insurance to protect alimony

In addition to finding a good attorney to represent you legally, people going through a divorce should seek the assistance of a good financial planner.

Read the full article here: https://www.usatoday.com/story/money/2019/08/07/divorce-how-file-without-wrecking-your-finances/1932401001/