Financial Planning, Prenups, and Post-Divorce Recovery Strategies with Eric Brotman
Jamie M. Lima welcomes Eric Brotman to discuss the multifaceted impacts of divorce. They delve into the emotional and financial repercussions, emphasizing the importance of financial planning and prenuptial agreements. The conversation covers prenups, title governance, and the role of financial literacy. They explore asset division, taxes, insurance, and the necessity of updating estate plans post-divorce. The discussion also highlights the effects of divorce on children, custody issues, and planning for holidays and college.
Key Points
- Planning for divorce should start while the relationship is still strong, considering measures like prenuptial or postnuptial agreements to safeguard against future uncertainties.
- When dividing assets, it's crucial to understand the tax implications of different account types, as a dollar in a retirement account is not equivalent to a dollar in a savings account due to tax liabilities.
- The emotional and psychological impact of divorce on children should be a primary consideration, ensuring open and supportive communication to mitigate their sense of loss and confusion.
Links you can visit to explore Eric Brotman's work:
https://www.facebook.com/BFGFinancialAdvisors/ https://www.linkedin.com/company/bfgfa/ https://www.linkedin.com/in/ebrotman/ https://www.instagram.com/bfgfinancialadvisors/
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Chapters
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Transcript
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