Divorce (1/2): What to Know Beforehand w/Blake Van Zile

In our very first episode with a guest, we talk about all things divorce-related with attorney Blake Van Zile.  We loved talking about divorce so much that we had to break this one into two parts.  In this first part, we focus on some basics of divorce, child support and alimony, and prenuptial agreements.

What is the main goal in a divorce?  Trying to find a fair and equitable way to end a marriage.  This doesn’t mean you are going to get everything you want.

How do you prepare for a divorce?  Talk to an attorney before making any moves and know what your finances really look like before filing if possible.  Everything can be much harder to track down after you are in a divorce proceeding.

Child support and alimony payments.  Laws vary from state to state, but generally income is a big driver in child support and alimony calculations.  The duration of a marriage can impact alimony calculations as well.

The pre-nup.  If you have any significant assets, a pre-nup can be very advantageous for documenting what each partner is bringing into a marriage.  A pre-nup that is unreasonable may not hold up in court.

 

Tips of the Day (we couldn’t do just one!):

               Get your facts straight.

               Keep your receipts!

               Pets are not kids.  They are property.

 

Huge thank you to our guest, Blake Van Zile.  Look her up on LinkedIn if you get a chance:  @BlakeVanZile

For more financial planning tips from Corey and Rachelle find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden or Twitter:  @CoreyJanoffCFP and @RachelleFinance

Discussions in this show should not be construed as specific recommendations, legal, or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC.  Finity Group and Cambridge are not affiliated.