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The New Yorker’s Guide to Collaborative Divorce by Katherine Miller

Divorce Dialogues · A New Way to Start the Money Conversation with Judith Stern Peck

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FAFSA

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A New Way to Start the Money Conversation with Judith Stern Peck

Katherine Miller — Thu, 08 Apr 2021 16:37:15 +0000

EP: 148

Judith Stern Peck

A New Way to Start the Money Conversation

How do you talk to your partner about money? How about your kids? Many of us are afraid to discuss our finances, so we avoid the subject altogether. But what if you had a new way to initiate the money conversation with your family?

Judith Stern Peck is the Director of the Money and Family Life Project at the Ackerman Institute for the Family, where she serves as Senior Faculty. She has 40 years of experience as a family therapist and family business consultant, helping people break through the barriers of talking about money. Judith is also the author of Money and Meaning: New Ways to Have Conversations About Money with Your Clients—A Guide for Therapists, Coaches and Other Professionals.

On this episode of Divorce Dialogues, Judith joins Katherine to explain why money is still such a taboo subject for most people and describe why it’s challenging for many divorcing couples to have explicit discussions about their finances. She introduces us to her framework for talking about money, walking us through an exercise for recognizing when your spending contradicts your values. Listen in for Judith’s insight on getting educated around your household finances and learn a new approach to communicating with your family about money.

Topics Covered

How money carries many different subconscious meanings for people

How to communicate money decisions to your children

Why money is still such a taboo subject for most people

The challenge of talking about money when a couple has established the provider-distributor dynamic

Why the shift from an implicit contract to explicit discussions about money feels uncomfortable for divorcing couples

What people can do to start having better conversations around money

Judith’s exercise for aligning your financial decisions with your values

Recognizing when your spending contradicts your values and having a conversation about it

Judith’s advice for people in families where money is used to control or manipulate behavior

Why getting educated about the use of money in your family is the first step toward spending with intention and taking ownership of financial decisions

Connect with Judith Stern Peck

Judith at Ackerman Institute for the Family

Connect with Katherine Miller

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller

Judith’s Money and Family Life Research

Call (914) 738-7765

Resources

Money and Meaning: New Ways to Have Conversations About Money with Your Clients—A Guide for Therapists, Coaches and Other Professionals by Judith Stern Peck

The post A New Way to Start the Money Conversation with Judith Stern Peck appeared first on Divorce Dialogues.

Helping Women Have a Good Relationship with Money with Carrie Rattle

Katherine Miller — Fri, 15 Jan 2021 20:15:19 +0000

EP: 142

Carrie Rattle

Helping Women Have a Good Relationship with Money

Divorce Dialogues · Helping Women Have a Good Relationship with Money with Carrie Rattle

Though it’s been proven that girls are just as good at math as boys, the cultural assumption that men are better at managing money persists. And in the divorce process, many women (even the smart, capable ones) struggle with financial decisions. So, what are the systemic myths that keep women from having a good relationship with money? And what can we do to change that?

Financial Therapist Carrie Rattle is the Founder and CEO of Behavioral Cents, a coaching practice dedicated to helping professional women build wealth by learning how to get out of debt, save money, or protect their assets during a divorce. A financial executive with 30 years of experience in the banking industry, Carrie teaches women to build money-life balance and align their values with their spending.

On this episode of Divorce Dialogues, Carrie joins Katherine to discuss the five unique hurdles that separate women from a good relationship with money. She introduces us to the princess syndrome, explaining how parents treat girls differently when it comes to finances and what’s problematic about the cultural assumption that men are better with money. Listen in for Carrie’s insight into the not-good-enough messaging women get from the media and learn what we can do to combat the fear, shame and social assumptions that impact a woman’s confidence around money.

Topics Covered

What inspired Carrie to focus her work around women and money

Why it’s crucial for divorce professionals to understand where women are coming from when it comes to money

The five hurdles that separate women from a good relationship with money

How parents treat girls differently when it comes to finances

The difference between general financial literacy and connecting how our behaviors translate to expenses

How the princess syndrome impacts young girls and influences their attitude toward money

The problem with our false cultural assumption that men are better at managing money

The not-good-enough message women get from the media and how it impacts their confidence around money

Why investing is a lot less complex than most women think and how Carrie teaches asset allocation

Connect with Carrie Rattle

Behavioral Cents

Email carrierattle@behavioralcents.com

Call (914) 923-6081

Stopping Overshopping

Connect with Katherine Miller

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller

Sarah Coyne’s Study on Disney Princesses

Call (914) 738-7765

Resources

Geena Davis Institute of Gender in Media

The post Helping Women Have a Good Relationship with Money with Carrie Rattle appeared first on Divorce Dialogues.

Divorce & Your Financial Security with Stacy Francis

Katherine Miller — Fri, 04 Dec 2020 00:26:47 +0000

EP: 139

Stacy Francis

Divorce & Your Financial Security

Divorce Dialogues · Divorce & Your Financial Security with Stacy Francis

A lot of people stay in unhappy marriages because they don’t think they can afford not to. But if you’re willing to take a close look at your finances and enlist the help of the right professionals, you can come to a peaceful resolution and navigate a divorce settlement that ensures your financial security for the long term.

Stacy Francis is the Founder and CEO of Francis Financial, a fee-only, boutique wealth management, financial planning and divorce financial planning firm. A nationally-recognized financial expert with 18-plus years in the industry, she is a Certified Divorce Financial Analyst (CDFA), Divorce Financial Strategist and Certified Estate and Trust Specialist (CES). Stacy is also a member of the Forbes Finance Council, and she has appeared on CNBC, PBS and Good Morning America, among many other media outlets.

On this episode of Divorce Dialogues, Stacy joins Katherine to explain why people are reluctant to take a close look at their finances and how she helps people get past their fear of judgement around money. She describes what differentiates a CDFA and how they can help you, offering advice on what questions to ask as you select your team of divorce professionals. Listen in for insight on making sure you’re financially secure after divorce and take the first step to getting a clear picture of your money situation.

Topics Covered

The most important thing you can do to make sure you’re financially secure for the long term after divorce

Why people are reluctant to take a close look at their finances

How Stacy’s team helps people get past their fear of judgement around money

The first step for getting a clear picture of your money situation

How you might use COVID to initiate a conversation with your spouse about your financial situation

What differentiates a Certified Divorce Financial Analyst and how they can help you

Identifying what YOU need in a settlement to feel comfortable, knowledgeable and financially secure

What to look for in a CDFA

How the process and professionals you choose impact your ability to achieve a peaceful resolution

Stacy’s top three tips for those of us contemplating divorce

Connect with Stacy Francis

Francis Financial

Connect with Katherine Miller

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller

The Francis Financial White Paper

Call (914) 738-7765

Resources

NAPFA

The post Divorce & Your Financial Security with Stacy Francis appeared first on Divorce Dialogues.

Getting a Fair Divorce Settlement with a CDFA with Nancy Hetrick

Katherine Miller — Wed, 19 Feb 2020 01:00:55 +0000

EP: 119

Nancy Hetrick

Getting a Fair Divorce Settlement with a CDFA

As you negotiate a divorce settlement, it’s useful to think about assets like a bowl of fruit. While it might look like an apple and a pear have the same worth, it’s crucial to solicit the advice of a professional to ensure that what appears to be a 50/50 split is truly equal. So, how can a Certified Divorce Financial Analyst (CDFA) help you navigate the divorce-specific items in the tax code and negotiate a fair settlement with your former spouse?

Nancy Hetrick is the CDFA behind Smarter Divorce Solutions, an Arizona firm dedicated to helping couples craft settlements that are a win-win for both parties. Nancy has 20-plus years of experience as a financial advisor, and she is trained in both mediation and Collaborative Divorce. She was a 2014 Finalist for the BBB Business Ethics Awards and the 2015 Winner of NAWBO’s Business Owner of the Year, and Nancy is the author of Divorce is Not for Dummies: How to Cover Your Assets.

On this episode, Nancy joins Katherine to explain what differentiates a CDFA from other financial planners. She walks us through the most common mistake couples make in negotiating divorce settlements, covering the complexities of sharing pension benefits with an ex and the potential tax implications of an ‘equal’ division of assets. Listen in for Nancy’s advice to couples considering divorce and learn how a CDFA can maximize the tax efficiency of a settlement, helping both parties get more of their own money!

Topics Covered

What differentiates a Certified Divorce Financial Analyst from other financial planners

The most common financial mistake couples make in negotiating divorce settlements

Overlooking tax implications

The biggest financial mistakes couples make in negotiating divorce settlements

Beneficiary issues around pensions
Hang onto house they can’t afford

The complexities of the Qualified Domestic Relations Order or QDRO

Understanding the choices available to divorcing couples in a specific pension plan

How changing rules in municipal pension plans impact the non-employee spouse

The different payout methods available to pension holders + their former spouses

The value in doing a 20-year financial projection for both parties in a divorce

Leveraging creative settlements to maximize tax efficiency for a divorcing couple

How the laws around divorce differ dramatically from state to state

How a Certified Financial Coach can support people who haven’t managed money

Nancy’s advice for couples considering or initiating the divorce process

Find CDFA in your area to do What if? look
Pay for experts to save money in long run

Connect with Nancy Hetrick

Smarter Divorce Solutions

Email nancy@smarterdivorcesolutions.com

Connect with Katherine Miller

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller