Purse Strings Podcast: Surviving the Finances of Divorce
Smarter Divorce Solutions
by Nancy Hetrick
2M ago
Purse Strings Podcast: Surviving the Finances of Divorce Share: Watch the Purse Strings Podcast, as our very own Nancy Hetrick AWMA, CDF at Smarter Divorce Solutions joins to help reframe the conversation of finances surrounding divorce especially if your spouse used to drive all financial decisions, keeping you in the dark until now. Contact Us to Schedule a Complementary Strategy Session$ Your Trusted Partner At Smarter Divorce Solutions, we help you with creative solutions and sound financial decisions surrounding the dissolution of your marriage, because we know that in th ..read more
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What Is a QDRO?
Smarter Divorce Solutions
by Gerard Zielinski, CDFA®
8M ago
What Is a QDRO? Share: A qualified domestic relations order (QDRO) is not to be confused with a divorce decree or property settlement agreement. A QDRO specifically recognizes a spouse, former spouse, child, or other dependents’ right to receive a predefined portion of a qualified ERISA-sponsored retirement plan. A QDRO must be issued by a state court or authority. To “qualify” as a QDRO under the Employee Retirement Income Security Act (ERISA), a QDRO must have (or not):  The name and last known mailing address of the participant and each alternate payee; The name of each plan ..read more
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Know the Difference – QDRO
Smarter Divorce Solutions
by Gerard Zielinski, CDFA®
9M ago
Know the Difference – QDRO Share:   Get it right the first time! It is strange, isn’t it? We see more language in a Divorce Decree about who keeps the TV or the kitchen table and little about how a party will retain what is often the most valuable asset in a marriage, the retirement plan(s). Where are the details? When should the benefit be divided, how will the funds be transferred, are market fluctuations included? Should survivors benefit or early retirement subsidies be awarded? How will contributions or plan amendments after the separation date be considered? What was suppos ..read more
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Marriage and Addiction – When Divorce is the Only Answer
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
Marriage and Addiction – When Divorce is the Only Answer Share:   Just this week I met with two people who were considering divorce from a spouse with active addiction issues. I, myself, am the adult child of alcoholics so I get it. I remember being 11 years old or so and PRAYING that my parents would get a divorce. The toxic emotional environment was unbearable, even at that young age. The individuals who spoke with me were sad. Very, very sad. One gentleman said his wife had been to rehab twice and was drinking again and convinced that she had it under control. He knew she didn ..read more
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Financial Infidelity Can Be Devastating
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
Financial Infidelity Can Be Devastating Share:   When your spouse betrays your trust, it can be emotionally devastating but when the infidelity has to do with money, the results can crush a lot more than your feelings. One of my clients, we’ll call her Jane, was married 28 years when her husband’s business was rendered obsolete.  She had been a stay-at-home mother while the children were young and was now working part-time. Her husband, let’s call him Dick, had always handled the finances and really enjoyed playing in the stock markets.  He had experienced moderate succ ..read more
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Divorce: How to Protect Your Money
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
Divorce: How to Protect Your Money Share: As soon as you begin to contemplate divorce, you start wondering what it may look like. Will this leave me poor and destitute? Can I live the same lifestyle as before? Then that nauseating, panic-attack-inducing realization of losing half of your net worth kicks in and you find yourself wondering if it’s even worth it. There are ways to ensure that your financial future is not destined for disaster. First and foremost, be SURE you involve a financial advisor that specializes in divorce on your team. A financial advisor can ensure you are fully ..read more
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Can I Make It On My Own?
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
Can I Make It On My Own? Share: Can I make it on my own? When pondering divorce, this question always seems to be a tough one. You know your marriage is no longer working. You want to provide positive and healthy examples for your children of how to live a good life and get along with your spouse. But you feel trapped, and you do not know if you can make it on your own financially. Not knowing what the outcome will be, can be scary. The main thing is to not stop at the unknown. Yes, you don’t know. So, go find out. This is where a Certified Divorce Financial Analyst® practitioner, or ..read more
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5 Important Questions To Ask Your Divorce Attorney
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
5 Important Questions To Ask Your Divorce Attorney Share: You’ve decided it’s time to terminate your marriage and unfortunately the emotions are too high to make mediation a realistic option or for whatever reason, you’ve chosen litigation. If you’re a regular reader of my blogs, you know that I’m not a big fan of litigation for divorce but I’m also realistic enough to know that sometimes you have no choice. If you must go down that path, here are some vital things to find out up front when interviewing attorneys. 1. “What percentage of your cases typically go to trial?” The reality ..read more
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Getting Through the Holidays After Divorce or Separation
Smarter Divorce Solutions
by Nancy Hetrick
1y ago
Getting Through the Holidays After Divorce or Separation Share: Is this it? Is this the first time since the birth of your babies that you will be forced to spend at least part of the holiday without your children because of separation or divorce?  It’s no fun and it can be stressful for all parties involved. But it does get easier after the first year. I remember mine.  I sat in front of the Christmas tree all by myself and cried my eyes out.  Not exactly my finest moment.  Had I to do it over again, it would be very different.  Let me give you some helpful t ..read more
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Knowing When Divorce is the Right Answer
Smarter Divorce Solutions
by Karen Dorsey
1y ago
Knowing When Divorce is the Right Answer Share: One of my divorce coaching clients, I’ll call her Natalie, is struggling with knowing if divorce is the right answer for her. She has worked hard at taking all of the necessary steps to create an action plan – getting all the financial documents together, figuring out a budget and where she is going to live, consulting with an attorney, looking at divorce options, etc. But the hardest thing she’s dealing with is trying to figure out if divorce is the right answer. Even though she’s been thinking about this for years – even being sensitiv ..read more
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