Financial Planning For The Blended Family With Jay Mota

Katherine Miller — Thu, 06 May 2021 20:02:09 +0000

EP: 150

Jay Mota

Financial Planning For The Blended Family

Divorce Dialogues · Financial Planning For The Blended Family With Jay Mota

Anxiety around money puts a strain on any relationship. But for blended families, there’s an added layer of complexity. Who will pay for what? And where is the money coming from? The good news is, remarried couples can alleviate a lot of that stress with a little planning.

Jay Mota is a Certified Financial Planner and Chartered Financial Consultant with Prudential Financial. Born and raised in the Bronx, Jay served in both the US Marine Corps and Army National Guard before transitioning to financial services. Jay studied at NYU, Fordham University and The American College of Financial Services, earning degrees in Business Management, Marketing and Communication. With 20 years of experience in financial planning, Jay is a sought-after international speaker on financial wellness and other industry-related topics.

On this episode of Divorce Dialogues, Jay joins Katherine to discuss the finer points of financial planning for the blended family, explaining how disputes around alimony and child support take both a financial and emotional toll on all involved. He addresses the financial expectations of stepparents, challenging remarried couples to have an honest conversation about their current circumstances as well as their goals for the future. Listen in for Jay’s insight on estate planning in a blended family and learn how to make sure your children from a previous marriage are taken care of after you’re gone.

Topics Covered

Why Jay recommends that blended families track their income and expenses

How disputes around alimony and child support take an emotional and financial toll on a blended family

How Jay helps blended families identify the financial facts today, understand each other’s goals and plan for the future

The financial expectations of a stepparent around paying for college

Communicating your decisions re: estate equalization and your stepchildren with your new spouse

The estate planning concerns associated with blended families (and what you can do to make sure your children from a previous marriage don’t get left out)

The value in envisioning how you want your estate to be handled and creating a plan right now

Jay’s fiduciary responsibility to introduce difficult conversations

Jay’s insight on the challenge of retirement planning in a blended family