Getting Divorced? Here’s How to Protect Your Money
Laura interviews Stan Corey, a divorce expert and author of a new book,The Divorce Dance. They talk about different types of divorce proceedings, financial mistakes to avoid, how to divide up assets the right way, and how to get divorced when you don’t have much money to pay for it.
I’ve never been through a divorce, but friends and family who have say they weren’t prepared for how expensive or stressful it was. Not only is the cost to split up staggering, you have to make financial decisions that influence the rest of your lives.
I interviewed Stan Corey, who is one of the most uniquely qualified professionals I know to give advice about how to navigate divorce the best way possible. He’s worked in financial services for 35 years and holds impressive qualifications, such as Certified Financial Planner (CFP), Chartered Financial Consultant (ChFC), and Certified Private Wealth Advisor (CPWA).
Corey has worked with hundreds of divorcing couples as a mediator, expert witness, and a collaborative professional. He’s the author of a new book, The Divorce Dance: Protect Your Money, Manage Your Emotions, and Understand the Legal Issues.
If you or someone close to you is thinking about divorce or beginning the process, I recommend getting your hands on this book. The Divorce Dance is different than a typical financial advice book because it reads more like a novel.
Corey takes you step-by-step through the divorce process for a fictional couple, Jim and Natalie, who must manage many legal, financial, and emotional issues. She has much less financial experience and income than he does.
Corey recommends how to choose the best professionals and underscores that sound financial planning is key to a successful divorce. Spouses who are knowledgeable and self-reliant can better face the challenges of divorce and rebuilding their lives after a break-up.
[Listen to the interview using the audio player in the upper right sidebar of this page or on iTunes, Stitcher, and Spotify; for Spotify, just search the app for “Money Girl.”]
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Before you sign a divorce settlement agreement, be sure to understand what it means to your financial future–that’s the real issue. – Stan Corey
Some of the topics Stan and I cover in this interview include:
- Different types of divorce proceedings that you can choose
- The biggest mistakes that can cost you financially in a divorce
- Why relying on a single family law attorney can be a bad idea
- Tips for dividing up financial assets the right way—especially when you’re not so financially savvy
- How to get divorced when you don’t have much money to pay for it
Our conversation will help you understand the options you have and why using multiple professionals for legal, financial, and emotional help can give you the best possible outcome. .
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Divorce image courtesy of Shutterstock
About the Author
Laura Adams received an MBA from the University of Florida. She’s an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura’s previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.
