Personal Financial Planning for Divorce

  • ID: 2211264
  • Book
  • 324 Pages
  • John Wiley and Sons Ltd
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Praise for Personal Financial Planning for Divorce

"A must–read if the possibility of divorce is in your near future. Rattiner raises many critical issues and brings them to the forefront of any divorce discussion." Jacob H. Gold, CFP; President, Jacob Gold & Associates, Inc.

"A must–have reference for any professional advisor who works with clients going through a divorce. The chapters flow logically and offer easy–to–follow advice and guidance each step of the way you never get lost in the discussion. The book′s down–to–earth style will appeal to advisors looking for a good educational resource to help their clients understand key planning issues both financial and non–financial surrounding divorce." Bill Rives, PhD, CLU, ChFC, RHU, Department of Finance, Fisher College of Business, Academic Director, CFP® Certification Education Program,The Ohio State University

"Divorces are always emotionally charged, extremely dynamic, and require a calculated, rational approach to develop solutions that can impact the life of a client. The chapters in Jeff′s book can be used by the advisor as a literal financial planning road map for their clients. Besides addressing the typical income taxation and retirement planning, Jeff approaches this in a real world manner including psychological aspects and rules of engagement." Steven I. Levey, CPA/PFS, Senior Principal/CEO, GHP Horwath, PC

"Jeff has a real knack for conveying complex tax and financial information in a straight–forward, understandable fashion. He has incredible depth of knowledge but also a real ′roll up the sleeves′ approach to addressing critical divorce issues." Dr. Paul Larson, CEO, Western CPE

"Divorce is complicated, stressful, and is often a financial disaster for both parents as well as children. Rattiner guides the consumers and their professionals through the complex and important solutions." Ed Morrow, CLU, ChFC, CFP®, RFC, President, International Association of Registered Financial Consultants

"If you′re facing divorce or even the probability, do yourself and your wallet a great favor and learn firsthand from Jeff Rattiner′s personal and professional experiences in Personal Financial Planning for Divorce. Rattiner is an expert financial advisor, author, and educator. This book will guide you step–by–step through the divorce process and you′ll come out the other side in better shape financially and psychologically." Sheryl Garrett, CFP®, award–winning author, Founder of the Garrett Planning Network

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Chapter 1 The Unthinkable.

Divorce from a Personal Financial Planning Perspective.

Divorce Etiquette.

Should You File?

Should You Separate or Divorce?

Types of Divorce.

What Will Others Think?

What to Do First: Looking at the Big Picture.

Taking the High Road.


Informing the Children.

Coming to Grips with the Reality of the Situation: Representation.

Hiring an Attorney.

Involving Others: Your Support Team.

Becoming Too Passive.

What to Do Before You Leave Home for Good.

Rattiner s Planning Tips.

Chapter 2 Minimizing the Damage.

Negotiating Your Way out of a Trial.

Early–on Negotiations.

Can You Negotiate What You Want?

Negotiating through Your Lawyer.

Last–Minute Negotiations: The Settlement Conference.

Take Care of Yourself It s All About Me.

Take Care of Your Family.

Protect Your Mail.

Protect Your Computer.

Close Joint Accounts.


Establish Your Own Credit.

Protect Your Separate Property.

Filing a Tax Return.

Relief from Joint Liability.

Temporary Support Agreements.

Reentering the Workforce.

Rattiner s Planning Tips.

Chapter 3 Paying for Divorce.

Costs Involved.

What Should You Pay for in the Divorce?

How Long Will You Have to Pay These Expenses?

Creating a Budget.

Analyzing Your Income.

Going Solo.

Joint Assets.

How to Pay for It: Avoid Paying for Your Ex s Legal Fees.

Rattiner s Planning Tips.

Chapter 4 Plan of Attack: Let the Games Begin!

Taking Your Ex Out.


Anything Other Than Litigation.


Collaborative Divorce.


The Preliminaries: Gathering the Evidence.

Rattiner s Planning Tips.

Chapter 5 Alimony and Child Support Issues.

Alimony: Maintenance and/or Spousal Support.

Alimony Recapture: Too Much Alimony Paid Too Soon.1

Child Support.

Rattiner s Planning Tips.

Chapter 6 Divorce Can Be Taxing!

Property Settlements.

Filing Status.

Sale of the Principal Residence.

Like–Kind Exchanges under IRC Section 1031.

Tax Credits Regarding Children.

Rattiner s Tax Planning Tips.

Chapter 7 Retirement Plans.

Vesting Rules.

Types of Retirement Plans.

Understanding Qualified Domestic Relations Orders (QDRO).

Valuation of Retirement Plans.

Determining How Much of the Valuation Is Your Share.

Using Retirement Assets to Buy Out or Balance Out Equity.

Your Ex s Remarriage or Death and Your Vested Pension Benefits.

Discovery of Retirement Plans.

Common Mistakes Pertaining to Retirement Plans.

Rattiner s Planning Tips.

Chapter 8 Valuation Issues.

Property Division Issues.

Common Law versus Community Property.

Closely Held Business Valuation.

Stock Redemptions.

Partner Liquidations.

Stock Options.

Rattiner s Planning Tips.

Chapter 9 Redesigning Your Personal Financial Plan after the Divorce.

The Personal Financial Process.

The New and Improved Game of Life: Executive Summary.

Designing the Personal Financial Plan.

The Personal Financial Planning Disciplines.

Rattiner s Financial Planning Tips Checklist.

Chapter 10 Afterward: The 25 Steps to Future Success.


Financial Planning Responsibilities That Need to Be Followed Up.

Other Critical Issues That Need Your Follow–up.

Rattiner s Planning Tips.

Chapter 11 Planning for Same–Sex Couple Divorces: Issues Specific to These Couples.

Domestic Partnership Agreement/Cohabitation Agreement.

Last Will and Testament.

Rattiner s Planning Tips.

Appendix: Charts and Forms.

About the Author.


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Jeffrey H. Rattiner, CPA, CFP®, MBA, RFC, is a well–known professional speaker,educator, and author ofnine major financial books, including the bestsellersRattiner′s Review for the CFP® Certification Examin–ation, Fast Track Study Guide (Wiley) andGetting Started as a Financial Planner. Rattiner is a leading innovator on financial planning educational topics and his program, Rattiner′s Financial Planning Fast Track®, continues to raise the industry bar by training financial services professionals to obtain their Certified Financial Planner® (CFP) certification in an accelerated format nationwide. He lectures to many large financial services organizations, has been a columnist for many of the industry trade publications, has been named to the 2003 CPA All–Stars in Personal Financial Planning byCPA Magazine, and has been quoted in many trade and consumer publications.
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