One of the biggest fears people face when contemplating divorce is the financial unknown. If you are sitting out there right now feeling overwhelmed, unsure where to begin, or worried about money, this conversation was made for you.
This week Susan is bringing you one of the most listened to and most shared episodes from the Divorce and Beyond archive, a conversation with certified divorce financial analyst Hollis Hardiman, also a certified mediator and certified collaborative professional, walking through the foundational financial preparation that can make such a difference when first starting the divorce process.
Together, Susan and Hollis get into what it really takes to protect your finances as you enter the process, from building the right professional support team to understanding what your household actually costs to approaching the big decisions, like the house, with clarity and an open mind instead of fear.
Covered in this episode:
Why money is the number one fear people face when contemplating divorce and why the right professional support team changes everything
How to start building a picture of your finances from what you already have access to, even if your spouse handled the money
Why alimony and support are temporary and what it means to plan now for when they end
How a CDFA helps clients protect their finances not just during the divorce process but for their financial future as well
HOW TO HANDLE THE MOST COMMON QUESTION ASKED DURING DIVORCE, "CAN I KEEP THE HOUSE?"
Almost everyone walks into the divorce process asking the same thing: can I keep the house? It is an understandable instinct. But when keeping the house becomes a fixed position rather than one option among many, it can stall the process, drain resources, and leave you worse off financially in the long run. Some things to consider, as discussed in this episode include:
One household income divided into two households means the math will not work the same way
Understand what it would actually cost to keep the house: refinancing, mortgage qualification, maintenance, and carrying costs
Explore all the options: keeping, selling, renting, downsizing
You can put the puzzle together a lot of different ways in divorce, but only if you stay open to looking at all the pieces
The goal is not to win the house. The goal is to make the decision that sets you up for the strongest financial future. Get the answers, both good and bad, and then decide.
Referenced Episodes from the Archive:
How to Get Your Act Together So that You Can Tackle Your Divorce with Alex Beattie of Divide & Thrive
The Solution for Tackling the Divorce Detour with Storey Jones, Creator of dtour.life
It’s All About the House: What You Need to Think About Before You Decide to Keep It with Tami Wollensak
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This Week’s Guest: Hollis Hardiman, CDFA
Hollis provides financial, retirement, and wealth management services to her clients. She specializes in helping people navigate major life transitions including divorce, the loss of a spouse, and preparing for retirement.
As a Certified Divorce Financial Analyst (CDFA), Hollis firmly believes in building a support team of divorce professionals including attorneys, mediators, and therapists that can help her clients make the best decisions during these emotional times. As a child of divorced parents, Hollis witnessed firsthand the consequences when sound financial decisions are not made.
Hollis is certified in both mediation and collaborative divorce. She is well trained to advocate for one party or serve as a neutral party for the couple during the divorce process. While being part of the support system with the attorneys and mediators, Hollis is able to guide her clients through their short-term and long-term settlement options.
Hollis grew up in Fairfield, CT, and now splits her time between Fairfield, CT, and Palm City, FL. In her free time, she enjoys spending time with her husband and extended family, walking her two dogs, and playing tennis.
Investment advice offered through Merit Financial Group, LLC, an SEC registered investment adviser.
Phone: 203.423.5985
E-mail:
[email protected]Website: https://divorceresourcect.com/about/
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About Our Host: Susan E. Guthrie, Esq.
Susan E. Guthrie is one of the nation's leading family law and mediation attorneys, with more than 35 years of experience helping individuals navigate divorce with clarity and strategy. She is the Immediate Past Chair of the American Bar Association Section of Dispute Resolution, a best-selling author, and a sought-after speaker and trainer.
Susan recently appeared as the featured expert on The Oprah Podcast and has been cited in The Wall Street Journal, Forbes, The Washington Post, NewsNation, and NBC Chicago Today, among others.
As the creator and host of Divorce & Beyond, ranked in the top 1% of all podcasts worldwide with millions of downloads and an Apple Top 100 Self-Help designation, Susan brings together top legal and mental health experts to help listeners move through divorce and into what comes next.
Learn more at https://divorceandbeyondpod.com/about
Disclaimer: The commentary and opinions shared on this podcast are for informational and entertainment purposes only and do not constitute legal advice. Consult a licensed attorney in your state regarding your specific situation.
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