Personal Financial Planning for Divorce

Icon_Level
Intermediate
Credits
CPE Credits
6 Credits: Taxes

Course Description

With the steady increase in divorce rates likely throughout this decade, and client future assets and income looking very differently than originally planned, how can we help our clients stay focused and continue to reach their objectives during a client environment previously not anticipated. Divorce is a major life changing event that affects clients in a variety of ways. It is an emotionally draining process, let alone a complex financial nightmare for most clients. Divorce can be one of the most devastating occurrences for your clients. Many times, our clients are not thinking clearly during the process, and by the time they realize it, it could be too late!

The initial financial plan can look vastly different before and after a divorce. Many advisors try to figure out the best ways to split marital assets, debt, income, and expenses, but the most significant problems began beforehand when the client is not fully prepared and then arise differently afterwards when clients realize that key assets have been undervalued and tax consequences not factored into the calculations used during the valuation process. If your client’s divorce is not handled properly, whereby if an adequate split is not negotiated or thought through properly, the results may never allow your clients the appropriate timeline to recover!

Join course presenter Jeff Rattiner, CPA, CFP®, as he prepares a path for your clients to pursue by thinking through the critical and timely decisions that must be made. This session will deal with the pitfalls one faces pre- and post-divorce and solutions that can be used to address these existing and future weaknesses. Issues will be covered from a financial and tax standpoint and include valuation, retirement, business valuation and succession, splitting assets and income, prenuptial and post-nuptial agreements, and the re-evaluation of goals after the divorce becomes final. Join this course to learn how to effectively guide your client through this difficult and complex situation. To address these pitfalls and ongoing concerns, there are many planning strategies that present themselves for CPAs and financial advisors to work with their clients in the area of planning for divorce.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Determine how to work through the divorce process
Discuss the financial ramifications pre-divorce
Discuss the financial ramifications post-divorce discuss the non-financial ramifications that if not thought through and understand prior could affect the financial outcome of divorce
Distinguish among state residency issues of common law and community property
Learn how these issues affect splitting assets, liabilities, income and expenses, including alimony and child support post tax law
Understand the impact of pre-nupt and post-nupt agreements to address these issues
Explore solutions that can be used to address these existing and future financial, tax, retirement, and valuation planning weaknesses
Prepare for the divorce, the process of paying for the divorce, and how that may affect business valuation and succession
Recognize the tax planning elements and resulting strategies of divorce
Identify which retirement strategies clients should pursue
Apply valuation strategies to help clients with closely held businesses
Apply post-divorce personal financial plans and investment strategies
Re-evaluate goals and objectives after the divorce becomes final to be covered from financial and tax standpoints.
Minimize the disturbances and inconveniences during the initial financial planning process by gaining additional emphasis on the financial, tax aspects, retirement, and valuation issues, which can lead to how clients can overcome the initial downfall, while re-tooling, and starting the process all over again. This is extremely imperative during stage two of life, which often occurs at a much more advanced age.

This session will cover how to properly prepare your clients for the multiple types of financial planning ramifications anticipated before, during and after a divorce.

Course Specifics

Course ID
22CNaples-LE22C278116
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Jeff Rattiner Headshot
Jeff Rattiner, CPA, CFP

Jeffrey H. Rattiner, BBA, CPA, CFP, MBA, is the president of JR Financial Group, Inc., which provides tax, financial planning, and money management services to individuals and financial planning professionals in Scottsdale, Arizona and Centennial, Colorado. His Financial Planning Fast Track (FPFT) program, taught, which has been taught at eight universities, provides professionals with the training necessary to become CFP® certificants, received critical acclaim as the cover story in the December 2001 issue of Financial Planning Magazine. He’s a frequent and sort after industry writer and entertaining speaker—authoring 10 books for Wiley, Bloomberg, CCH, Harcourt Brace and many others covering a variety of …

Jeff Rattiner, CPA, CFP Read More »

Personal Financial Planning for Divorce

Expert Instructors
CPE CREDITS
6 Credits: Taxes

$856.00

Availability: 35 in stock

Icon_Level
Intermediate
Credits
CPE Credits
6 Credits: Taxes

Course Description

With the steady increase in divorce rates likely throughout this decade, and client future assets and income looking very differently than originally planned, how can we help our clients stay focused and continue to reach their objectives during a client environment previously not anticipated. Divorce is a major life changing event that affects clients in a variety of ways. It is an emotionally draining process, let alone a complex financial nightmare for most clients. Divorce can be one of the most devastating occurrences for your clients. Many times, our clients are not thinking clearly during the process, and by the time they realize it, it could be too late!

The initial financial plan can look vastly different before and after a divorce. Many advisors try to figure out the best ways to split marital assets, debt, income, and expenses, but the most significant problems began beforehand when the client is not fully prepared and then arise differently afterwards when clients realize that key assets have been undervalued and tax consequences not factored into the calculations used during the valuation process. If your client’s divorce is not handled properly, whereby if an adequate split is not negotiated or thought through properly, the results may never allow your clients the appropriate timeline to recover!

Join course presenter Jeff Rattiner, CPA, CFP®, as he prepares a path for your clients to pursue by thinking through the critical and timely decisions that must be made. This session will deal with the pitfalls one faces pre- and post-divorce and solutions that can be used to address these existing and future weaknesses. Issues will be covered from a financial and tax standpoint and include valuation, retirement, business valuation and succession, splitting assets and income, prenuptial and post-nuptial agreements, and the re-evaluation of goals after the divorce becomes final. Join this course to learn how to effectively guide your client through this difficult and complex situation. To address these pitfalls and ongoing concerns, there are many planning strategies that present themselves for CPAs and financial advisors to work with their clients in the area of planning for divorce.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Determine how to work through the divorce process
Discuss the financial ramifications pre-divorce
Discuss the financial ramifications post-divorce discuss the non-financial ramifications that if not thought through and understand prior could affect the financial outcome of divorce
Distinguish among state residency issues of common law and community property
Learn how these issues affect splitting assets, liabilities, income and expenses, including alimony and child support post tax law
Understand the impact of pre-nupt and post-nupt agreements to address these issues
Explore solutions that can be used to address these existing and future financial, tax, retirement, and valuation planning weaknesses
Prepare for the divorce, the process of paying for the divorce, and how that may affect business valuation and succession
Recognize the tax planning elements and resulting strategies of divorce
Identify which retirement strategies clients should pursue
Apply valuation strategies to help clients with closely held businesses
Apply post-divorce personal financial plans and investment strategies
Re-evaluate goals and objectives after the divorce becomes final to be covered from financial and tax standpoints.
Minimize the disturbances and inconveniences during the initial financial planning process by gaining additional emphasis on the financial, tax aspects, retirement, and valuation issues, which can lead to how clients can overcome the initial downfall, while re-tooling, and starting the process all over again. This is extremely imperative during stage two of life, which often occurs at a much more advanced age.

This session will cover how to properly prepare your clients for the multiple types of financial planning ramifications anticipated before, during and after a divorce.

Course Specifics

Course ID
22CNaples-LE22C278116
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Jeff Rattiner Headshot
Jeff Rattiner, CPA, CFP

Jeffrey H. Rattiner, BBA, CPA, CFP, MBA, is the president of JR Financial Group, Inc., which provides tax, financial planning, and money management services to individuals and financial planning professionals in Scottsdale, Arizona and Centennial, Colorado. His Financial Planning Fast Track (FPFT) program, taught, which has been taught at eight universities, provides professionals with the training necessary to become CFP® certificants, received critical acclaim as the cover story in the December 2001 issue of Financial Planning Magazine. He’s a frequent and sort after industry writer and entertaining speaker—authoring 10 books for Wiley, Bloomberg, CCH, Harcourt Brace and many others covering a variety of …

Jeff Rattiner, CPA, CFP Read More »

Personal Financial Planning for Divorce

Expert Instructors
CPE CREDITS
6 Credits: Taxes

$856.00

Availability: 35 in stock