How to Financially Prepare for a Divorce
Many families in the military community are dealing with the BIG D, and I’m not talking about debt. I’m talking about divorce. It’s the reality many married couples face, whether your military or not. Unfortunately, the military ratchets the degrees of difficulty in relationships when you add in frequent moves, unemployment, deployments, PTSD, and high-risk jobs. It’s not a fun topic, but one many of you have asked me to cover because of a divorce’s financial ramifications on couples.
In this episode, I talk with Daniel Yerger, a Certified Divorce Financial Analyst, about how you can prepare your finances for a divorce. Daniel is a Certified Financial Planner®, Army PSYOP veteran, and the owner of MY Wealth Planners®, a fee-only RIA in Longmont, CO. Daniel is both a financial planning practitioner and researcher, as a doctoral student in Kansas State University’s Personal Financial Planning Ph.D. program, where he studies compensation and conflicts of interest.
Daniel shares insight on how to handle your finances before and after divorce, when to get help, and the unique financial aspects that impact service members and spouses in a divorce like retirement and VA disability benefits.
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Financially Prepare for a Divorce Episode Details
Related content: Financial Guide to a Military Divorce
- The different types of divorce
- Impacts divorce has on finances
- Collaborative divorce and finances
- How assets and debt are normally divided
- Common mistakes to avoid
- What is alimony
- Considerations for veterans and service members
- Preparing for the possibility of divorce
- Where to find tips and professional financial help
Financially Prepare for a Divorce Resources
More podcasts: Public Student Loan Forgiveness Program
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