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

Divorce Dialogues · Personal Property Appraisal in Divorce With Charles Rosoff

Call (914) 862-7487

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Personal Property Appraisal in Divorce With Charles Rosoff

Katherine Miller — Fri, 27 Aug 2021 20:06:31 +0000

EP: 158

Charles Rosoff

Personal Property Appraisal in Divorce

Equitable distribution of property is the goal in a divorce. But how, exactly, does the appraisal process work? How do appraisers determine the value of a divorcing couple’s assets and help them avoid disputes around property distribution?

Charles Rosoff is President of Appraisal Services Associates, a firm that provides forensic valuations of fine art, antiques, decorative arts as well as residential and office contents. He is an American Society of Appraisers Accredited Senior Appraiser and Member of the Royal Institute of Chartered Surveyors. Charles has more 35 years of experience, and he serves as editor of the annual supplements to the legal textbooks Valuation Strategies in Divorce and Valuing Specific Assets in Divorce.

On this episode of Divorce Dialogues, Charles joins Katherine to explain how appraisers value personal property to help divorcing couples achieve equitable distribution. He describes how to avoid ownership disputes and authenticity issues in a matrimonial action, discussing how to conduct an inventory of your personal property and why appraisers assign items a cash value. Listen in for Charles’ insight around the five most common myths of value and learn the valuation strategies you can use to maximize income from the sale of personal property in a divorce.

Topics Covered

How appraisers value fine arts, antiques, decorative arts and collectibles

Why it’s important for divorcing couples to hire an accredited appraiser

How to conduct an inventory of personal property for an appraiser

How liquidity impacts the equitable distribution of property in divorce

How to avoid ownership disputes and authenticity issues in a matrimonial action

Why it’s crucial to provide an appraiser with all available documentation

The significant differences between market value and fair market value

How assigning assets a cash value allows us to compare personal property

Charles’ insight around the five most common myths of value

The valuation strategies you can use to maximize income from property

Connect with Charles Rosoff

Appraisal Services Associates

Call (917) 877-5217

Connect with Katherine Miller

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

Valuation Strategies in Divorce by Robert D. Feder, Charles T. Rosoff and Aleza Tadri

Call (914) 738-7765

Resources

Macklowe v. Macklowe

Valuing Specific Assets in Divorce by Robert D. Feder, Charles T. Rosoff and Aleza Tadri

The post Personal Property Appraisal in Divorce With Charles Rosoff appeared first on Divorce Dialogues.

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

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

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

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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

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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

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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

Institute for Divorce Financial Analysts

Call (914) 738-7765

Resources

QDRO

Divorce is Not for Dummies: How to Cover Your Assets by Nancy A. Hetrick

The post Getting a Fair Divorce Settlement with a CDFA with Nancy Hetrick appeared first on Divorce Dialogues.

Developing a Financial Plan for Divorcing Couples with Ivy Menchel

Katherine Miller — Wed, 21 Aug 2019 01:00:06 +0000

EP: 106

Ivy Menchel

Developing a Financial Plan for Divorcing Couples

It’s never really just about the numbers. Money is emotional, and our feelings about finances reflect what’s going on inside. This is especially true for divorcing couples making major money decisions that will impact the rest of their lives. So, how can we navigate those emotions and design a financial plan that makes sense for both parties?

Ivy Menchel is the Founder and President of Family Wealth Planning Partners, a firm that specializes in divorce financial analysis. She leverages her 25 years of experience in financial services to support matrimonial attorneys, divorce mediators and their clients in assessing their options for fair and equitable settlements. Ivy is committed to empowering divorcing couples to make sound financial decisions for today—and into the future.

On this episode, Ivy joins Katherine to share her experience as an adult child of divorce, describing how the circumstances influenced her work as a financial planner. She explains the advantage of having a financial neutral in the divorce process and speaks to the relationship between our emotions and money. Ivy also weighs in on the concept of financial infidelity in the divorce setting and the necessity of reassessing wants versus needs as a marriage ends. Listen in for Ivy’s insight around creating a financial plan in the aftermath of divorce and learn why it’s crucial for couples to communicate about money!

Topics Covered

How experiencing her parent’s divorce inspired Ivy’s work

The relationship between our emotions and money

Why Ivy needs to know what money means to her clients

The benefit to having a financial neutral in the divorce process

The role of a financial neutral in the divorce process

Data gathering
Planning based on goals
Explore options that work for both
Divide assets + set up new accounts

Why divorcing couples must reassess wants vs. needs

The concept of financial infidelity in the divorce setting

Why it’s crucial for couples to communicate about finances

Connect with Ivy Menchel

Family Wealth Planning Partners

Call (212) 244-4702

Connect with Katherine Miller

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

Ivy’s Course on Financial Communication

Call (914) 738-7765

Resources

The Romantic Prenup

The post Developing a Financial Plan for Divorcing Couples with Ivy Menchel appeared first on Divorce Dialogues.

Understanding the Numbers with a Divorce Financial Analyst with Michelle Smith

Katherine Miller — Fri, 02 Dec 2016 01:00:33 +0000

EP: 038

Michelle Smith

Understanding the Numbers with a Divorce Financial Analyst

If you left the more complex issues of financial planning to your spouse during the marriage, navigating the numbers during the divorce settlement process can be incredibly intimidating. You may need considerable time to process any financial proposal brought to the table, and you would benefit from professional support in understanding what the numbers mean—and whether or not you’re going to be okay when it comes to money in the aftermath of the divorce.

Michelle Smith is the CEO of Smith Financial Strategies Group, the divorce financial team that other professionals turn to. One of the leading Certified Divorce Financial Analysts in the industry, Michelle has spent 25 years providing guidance and expertise in the realm of personal finance. She is a member of the Institute for Divorce Financial Analysts, a Divorce Mediator, and the co-author of Divorce and Your Finances.

Today, Michelle joins Katherine to explain how and why she carved out a niche as a personal finance expert in the divorce space. She shares insight around the enduring discrepancy between men and women when it comes to the economic balance of power in a marriage. Michelle speaks to the way men tend to view divorce negotiations as a business deal and the necessity of educating the spouse who is less sophisticated in the realm of complex financial issues. Listen in to understand the ‘unfairness’ of divorce and learn why Michelle cautions couples to consider their goals before choosing a course of action.

Topics Covered

Michelle’s niche as a personal finance expert in the divorce space

How Michelle employs user-friendly financial modelings

Michelle’s insight on the discrepancy around economic balance, power in marriage

Many women chose not to handle ‘complex financial issues’
Inequality when it comes to understanding the numbers

How men tend to see divorce negotiations as a business deal

The necessity of taking time to educate the ‘non-sophisticated spouse’

The potential for intense dysfunction in communication during the divorce process

Michelle’s no-nonsense take on the ‘unfairness’ of divorce

Why divorcing couples should consider their goals before choosing a course of action

Connect with Michelle Smith

Smith FSG

Email msmith@smithfsg.com

Connect with Katherine Miller

Getting Divorced Without Ruining Your Life by Sam Margulies

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

Email katherine@westchesterfamilylaw.com

Call (914) 738-7765

The post Understanding the Numbers with a Divorce Financial Analyst with Michelle Smith appeared first on Divorce Dialogues.

The Myths of Litigated Divorce & the Benefits of Mediation with Sam Margulies

Katherine Miller — Wed, 27 Jul 2016 01:00:54 +0000

EP: 029

Sam Margulies

The Myths of Litigated Divorce & the Benefits of Mediation

The parties in a litigated divorce spend years—and tens-of-thousands of dollars—preparing for a trial that is extremely unlikely to happen. This disconnect led to the development of mediation as an option, allowing divorcing couples to work toward settlement without spending unnecessary time and money in preparation for a trial that will never come to fruition. Are there other myths and misconceptions about the conventional litigation model? What are the benefits of mediation?

Sam Margulies is one of the most experienced mediators in the country, having facilitated settlements in hundreds of civil disputes and approximately four thousand divorces since 1980. Sam also has 35 years of experience training divorce mediators and conducting civil mediation training programs. He has served as Director of the Institute for Dispute Resolution of the Seton Hall Law School and taught graduate courses in mediation at the University of North Carolina at Greensboro. Sam is also the author of three books on divorce and mediation: Getting Divorced Without Ruining Your Life, A Man’s Guide to Civilized Divorce, and Working with Divorcing Spouses.

Today, Sam joins Katherine to discuss his experiences in the early days of mediation, explaining the impetus behind its development and the threat mediation posed to traditional litigators. He speaks to the public’s ignorance of settlement as the norm in divorce cases and the unnecessary cost of discovery in the conventional system. Listen in to understand why Sam recommends mediation as the first option for divorcing couples and learn how mediation seeks to create a system in which every family member can thrive.

Topics Covered

Sam’s experiences in the early days of mediation

The impetus behind mediation as an option

Divorce cases prepared for trial
Vast majority settle out of court

The Family Therapy Movement’s influence on mediation

The significant resistance to mediation from traditional divorce litigators

Discussion around disbarment proceedings

The lack of data re: the percentage of couples who divorce through mediation

The ongoing negative sentiment litigators harbor toward mediation

Why the public is woefully ignorant about settlement as the norm

The unnecessary cost of discovery in the conventional system of divorce

How bad faith breeds and grows during the discover process

Why law is the only professional in which pessimism positively correlates with success

Sam’s recommendation that couples look at mediation as their FIRST option

How an understanding of settlement norms would lead to quicker resolution

Equitable distribution, alimony norms, child support guidelines

Mediation’s objective to create a system in which every family member can thrive

Connect with Sam Margulies

Sam’s Website

Call (336) 669-3141

Resources

A Man’s Guide to Civilized Divorce by Sam Margulies

Working with Divorcing Spouses: How to Help Clients Navigate the Emotional and Legal Minefield by Sam Margulies

How to Tell Your Spouse You Want a Divorce

Connect with Katherine Miller