Balancing Emotions and Finances in Divorce

Divorce isn't just the end of a marriage; it's often the start of a new chapter fraught with emotional upheaval and financial uncertainty. Sadly, the statistics paint a particularly stark picture for women. According to a recent report from the American Academy for Certified Financial Litigators, the financial aftermath of divorce tends to hit women much harder than men. While men's household income might dip by 23% post-divorce past the age of 50, women face a staggering 41% drop. 

When you factor in that women typically outlive men by about five years, the impact becomes even more profound, stretching that diminished income over more years.

But it's not just the immediate aftermath that's concerning. Children of divorce often carry a financial stigma into adulthood, potentially impacting their lifetime earnings by a whopping 46%. Preparing for such eventualities is paramount, as marriage rates are declining and divorce rates are steady. Ilene's new webinar series, "Women and Divorce," comes here.

In this comprehensive course, " Staying Focused on Finances and Away from Emotions," Ilene dives deep into the key steps to stay focused on finances before, during, and after divorce. While emotion is always present, removing emotion from the decision-making processes surrounding divorce is essential. You aim to add value to your clients, especially when they are most vulnerable. We will introduce various ways to stay focused, be protected, and understand how emotions play out in decision-making.

Learning Objectives

• Discuss how emotions can cloud financial decision-making.
• Analyze why divorce decisions require logical thinking and decision-making.
• Analyze how to discuss these topics with clients as they experience the emotional distress of a divorce.
• Inspect how building good financial decisions post-divorce can impact clients forever and how digging out from bad choices can take forever.
• Discuss how to discuss these issues with children.

Major Topics Covered:

• Four Post-Divorce Challenges Women Face
• How Divorce Often Impacts Women and Children
• The benefits of Focusing on Finances and Away from Emotion
• Decision-Making Matrix
• Creating Impactful Conversations

Credits and Other information:

• Recommended CPE credit – 2.0
  
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• NASBA Sponsor: 146439
  
• IRS Course ID: PJGWS
• Attendance Requirement:  Yes
• Session Duration: 2 Hours
• Case Studies and Live Q&A session with speaker
  
• PowerPoint presentation for reference

Who Will Benefit:

• CPA
  
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
  
• Financial planners

Speakers profile

Led by Ilene Slatko, a seasoned speaker and entrepreneur with over 30 years in the financial industry, this webinar series is designed to be a beacon of support in uncertain times. Whether you're a financial advisor, lawyer, or accountant, this course equips you with the expertise to ally for your clients when they need it most. Because when it comes to divorce, preparation isn't just crucial—it's everything.