Welcome to the Power Over Divorce Blog. I’m Sara Stanich, a New York City based Certified Financial Planner professional (CFP®) and Certified Divorce Financial Analyst (CDFA™).
I’ve been a Certified Divorce Financial Analyst since 2011, and have worked with dozens of couples and individuals in the midst of the divorce process. My job is to help with the financial aspects of your divorce.
I can figure out what you have and help you determine the implications of financial decisions you are considering as part of the settlement. I am not an attorney, and I recommend you hire one (even if you are using the mediation process for your divorce).
While divorce can be sad and terrible in many ways, it’s also a part of life. Through my work, I know many happily divorced people. Divorce does not define them, but in the throes of the process, they may have felt that way. I have seen it lead to a better life, and I came up with the name “Power Over Divorce” because I wanted to communicate a positive message focused on the future.
You Can Get Through This
Humans are amazing and powerful creatures. People make changes to their lives every day. When you are in the middle of divorce or an unhappy marriage, it can be very difficult to envision your future, but tomorrow will come. I believe you can be more successful and empowered if you plan and prepare for your future.
You Can Get the Help You Need
Divorce is of course stressful emotionally, but also financially. Two households are more expensive than one, and the process itself can be very costly. There are many financial implications, which are not always fully understood when you are in the middle of it.
It is incredibly important to carefully consider the financial issues at hand for many reasons:
- Divorce settlements are final. Occasionally, adjustments to support are made due to changes in income, but it is rare.
- Poor planning can cost you. For example, loss of valuable tax benefits like the real estate capital gains exclusion, or an unnecessary early withdrawal penalty from a retirement account.
- There could be unintended consequences. An “equal” division of assets on the surface could be much less equal, after consideration of taxes and liquidity.
- Attorneys are not financial experts. Your attorney may be leading you through the process, but keep in mind that his or her specialty is the law. Attorneys are not financial experts and may be uncomfortable making financial recommendations.
I have helped scores of couples through the financial issues surrounding their divorce. Money is an emotional issue but I am not going to be emotional about your divorce.
An objective third party (and trained divorce financial analyst) can help you figure out:
- What does it cost to run my life?
- How do we divide up a retirement account or pension?
- What is my bottom line, after projected taxes?
My clients are smart and successful people, but this is time in your life when you need a team on your side. An experienced advisor can help you reach the best settlement and avoid common mistakes.
Where to Get Help
As a Certified Divorce Financial Analyst (CDFA), I offer financial advice to couples going through divorce. Couples are usually referred to me by their attorneys, mediators or accountants.
I offer a free 30 minute consultation to introduce ourselves and help you understand how we could potentially work together.
Looking for a local Resource? You can find a Divorce Financial Planner at the Association for Divorce Financial Planners website HERE.
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Changes in tax laws may occur at any time and could have substantial impact upon each person’s situation. You should discuss tax or legal matters with the appropriate professional. Sara Stanich is not an attorney and does not provide legal advice. Sara Stanich is not an accountant and does not provide tax advice or prepare tax returns. The Stanich Group is based in New York, and any examples or links provided may not apply in your state.