Tag: Post-Divorce Financial Planning
College Funding and Divorce: Strategies for Navigating Educational Expenses (Ep. 8)

College Funding and Divorce: Strategies for Navigating Educational Expenses (Ep. 8)

By |

Who covers college costs after divorce? 

Sorting out educational expenses can be daunting, especially with the added stress of financial aid rules and safeguarding your child’s future.

Gabrielle Clemens, JD, LLM, Certified Divorce Financial Analyst, and Accredited Estate Planner, shares practical strategies to help co-parents navigate college funding challenges before, during, and after divorce. She covers essential financial topics, including how to craft comprehensive divorce agreements that address tuition and related costs, make the most of tax-friendly 529 plans, and save money with smart transfer strategies. 

Whether you’re in the midst of a divorce or planning ahead, tune in and get the insights you need to confidently handle college funding and protect your child’s educational future!

Key Insights:

  • College Funding in Divorce Agreements: Gabrielle emphasizes the need for detailed agreements addressing college expenses early in the divorce process, covering tuition, prep courses, travel, and other educational costs. Cost-sharing methods can vary, including 50-50 splits or contributions based on income
  • 529 Plans and College Savings: Discover how 529 plans offer significant tax advantages for college savings and why specifying future contributions in your divorce agreement is crucial. Contributions from relatives like grandparents typically don’t count toward the marital estate, offering additional flexibility
  • Transfer and Cost-Saving Strategies: Gabrielle discusses cost-saving options like transferring from community colleges to more prestigious schools and highlights the importance of confirming credit transferability. She also explains how summer courses at target institutions can boost admission chances and earn credits
  • FAFSA Changes and Financial Aid Considerations: Learn how new FAFSA rules prioritize the parent who provides the most financial support, altering financial aid eligibility. Understand the complexities surrounding divorce, remarriage, and step-parents’ financial contributions
  • Co-Parenting Challenges in Financial Matters: Effective co-parenting requires cooperation in financial aid processes, including filing forms and sharing financial data. Gabrielle recommends including provisions in divorce agreements to ensure future compliance
  • The Impact of Remarriage on Financial Aid: Explore how a step-parent’s income can influence financial aid calculations and what parents should know before remarrying
  • The Importance of Comprehensive Agreements: Addressing all potential costs and planning for future changes, such as job loss, can prevent disputes later on. Gabrielle advises consulting with a college financial advisor for a customized plan
  • And much more!

Resources:

Connect with Gabrielle Clemens: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Keep, Sell, or Rent? Smart Home Decisions During Divorce (Ep. 6)

Keep, Sell, or Rent? Smart Home Decisions During Divorce (Ep. 6)

By |

The marital home is often the heart of a family — but what happens to it during a divorce? 

This week on Marriage Is About Love Divorce Is About Money®, Gabrielle Clemens, JD, LLM, Certified Divorce Financial Analyst, and Accredited Estate Planner, guides listeners through one of the most emotionally and financially charged decisions in divorce: what to do with the marital home.

Divorce is about more than emotional closure — it’s about smart financial planning. Gabrielle skillfully navigates both the emotional ties and practical realities involved, offering critical strategies to help you make informed decisions about your home’s future.

Whether you’re considering staying, selling, or renting, this episode will equip you with the insights you need to safeguard your financial future and embrace a new beginning.

Key Highlights:

  • Should You Stay or Go? Gabrielle explains how to weigh your emotional attachment to the home against practical factors like ongoing costs, taxes, and mortgage qualifications
  • Selling Smart: Learn why it’s essential to get an independent appraisal and how to calculate your net proceeds after transaction costs
  • Renting vs. Buying: If you’re not ready to buy again, renting may be a smart temporary option. Gabrielle explains when this move makes sense
  • Joint Ownership: Some couples opt for temporary joint ownership — Gabrielle shares when this might be a beneficial option, especially for families with children
  • Calculating Home Equity: Get a step-by-step guide to accurately calculate your home’s equity and understand the buyout process between spouses
  • Enforceable Divorce Agreements: Gabrielle emphasizes the importance of detailed agreements about the home — everything from repairs to realtor selection must be clearly outlined to ensure legal enforceability
  • Starting Fresh: Gabrielle encourages involving children in the decision-making process and considering a fresh start rather than holding onto the home for emotional reasons
  • And more!

Resources:

Connect with Gabrielle Clemens: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More
Financial Vigilance For Strategic Divorce Planning (Ep. 5)

Financial Vigilance For Strategic Divorce Planning (Ep. 5)

By |

This week on Marriage Is About Love Divorce Is About Money®, Gabrielle Clemens, JD, LLM, Certified Divorce Financial Analyst, and Accredited Estate Planner, reveals why divorce isn’t just a breakup — it’s a business deal that demands smart, strategic moves. 

Tune in as she shares essential steps to protect your financial future, from building a rock-solid plan to staying vigilant with your money. With her guidance, you’ll be equipped to navigate the twists and turns of divorce, ensuring a smooth transition into your next chapter.

Key Highlights:

  • Building Your Dream Team: Assemble a power squad of experts — attorney, financial advisor, therapist — who excel in their fields and communicate seamlessly to strengthen your case
  • Taking Control: Start fresh by opening your own bank accounts and credit cards, and consult with a CPA to explore tax filing strategies that protect you from future liabilities
  • Boosting Your Credit: Safeguard your financial future by monitoring and improving your credit score. This step is crucial as you transition into single life
  • Mapping Your Journey: Treat your divorce like a road trip. Whether you take the scenic route or the fast track, a clear strategy will keep you on course for a successful outcome
  • Stay Organized: Use tools like QuickBooks and Dropbox to keep your financial documents in order, ensuring a smooth transition into your new life
  • And much more!

Resources:

Connect with Gabrielle Clemens: 

Podcast: Play in new window | Download | Embed

Subscribe: RSS | More