Divorce can be a financial minefield, leaving many feeling lost and overwhelmed. How prepared are you to navigate the complex world of asset division, hidden accounts, and lifestyle changes that come with ending a marriage? In this episode of the True Love Knots Podcast, Maria is joined by Jamie Lima, a certified divorce financial analyst. He sheds light on the often-overlooked financial aspects of divorce. Drawing from experience and expertise, he advises consulting a financial expert early, staying informed about your financial situation, planning for post-divorce needs, managing emotions, and much more! With divorce rates still high and financial abuse a real concern, are you equipped to protect your financial future?

Standout Quotes:

“You should know where every account is, which custodian it is with, which bank you’re banking with, what the retirement plans look like, and all that stuff.”

“In divorce, you’re never going to have the same lifestyle; it’s always going to be different.”

“The whole purpose of having alimony and us fighting for it is to give you that bridge to get to the other side and into your new life.”

“The last thing you want to do is have to call little Johnny and little Susie and tell them that you’re going to be living on their couch at the age of 85.”

Key Takeaways:

Take inventory of all your financial accounts, assets, and debts. Make sure you know where everything is and have access to all relevant information.

Fill out a “My Priorities” worksheet to clarify what’s most important to you in a potential divorce scenario, both for yourself and your spouse.

Schedule a complimentary consultation with a certified divorce financial analyst to understand your options before involving attorneys or the court system.

Join a divorce support group or online community to gain insights and ask questions anonymously.

Create a post-divorce financial plan that accounts for your new lifestyle, future goals, and potential long-term financial needs.

Episode Timeline:

[00:03] Introducing Jamie Lima

[03:49] Navigating Divorce Finances

[08:31] Uncovering Hidden Assets in Divorce

[12:51] Maintaining Your Lifestyle Post-Divorce

[18:08] Smart Financial Planning During Divorce

[22:01] Expert Financial Planning for Divorce

Learn more about Jamie Lima on his socials:

Website: https://allegiantds.com

LinkedIn: https://www.linkedin.com/in/jamielima

Facebook Group: https://www.facebook.com/groups/preparingfinanciallyfordivorce

Broke Up, Not Broke(n) Podcast: https://podcasts.apple.com/us/podcast/broke-up-not-broke-n/id1743860479

Learn more about Maria Romano and True Love Knots at:

Website: https://trueloveknots.com

Email: [email protected]

Phone: +1 702-501-4150