(678) 971-1337

Access Your Account Online
☰ Menu
Women & Wealth Newsletter December 2015: Life After Divorce

Women’s Series: Life after Divorce

Statistics show that 41% of all first marriages end in divorce and the majority of those divorces are initiated by women. I also found out at a recent Wells Fargo Advisors conference in the John Hancock session that currently the highest divorce rate is occurring over the age of 50 and those divorces are also driven by women. So, what are the important steps to take during the divorce process and after the divorce?

We are very fortunate to live in a community where we have several great law firms that have attorneys that specialize in Family Law including Smith, Gilliam, Williams & Miles, Whelchel, Dunlap, Jarrard & Walker and Stewart, Melvin & Frost. I had the pleasure to co-write this newsletter with Julia Greene; a family attorney who works with Lydia Sartain at Stewart, Melvin & Frost. Julia and Lydia have helped a tremendous number of men and women in our community with life during and after divorce. When Julia meets with a prospective divorcee client she has a list of potential action items she reviews with them. See the list below; if you are going through a divorce or living with a divorce you may want to consider the following:

  1. Bank accounts & brokerage accounts:
  1. Start your own financial plan:
  1. Estate planning documents & beneficiary designations:
  1. Living situation:
  1. Taxes:
  1. Insurance:
  1. Alimony & child support payments
  1. Credit:
  1. Name change:

During my conversation with Julia she and I discussed the issues that really pertain to women going through a divorce. The points above are important for all individuals going through a divorce, but something the both of us have seen is that women tend to have more anxiety with the finances. Often, that anxiety is a result of not being directly involved with or understanding how and where all the financial assets reside. That includes the different issues pertaining to bank accounts, brokerage accounts, financial planning issues, establishing credit and the insurance review. And that is why our group helps our client families complete the Family Wealth Planning document which identifies and categorizes all of our family client’s financial and advisory contacts. This is where the both of us can help women going through a divorce.

Going through a divorce is not an easy process and having the right professionals in your corner is vital to making sure your financial life after divorce is successful.

The next women’s newsletter will be about: estate planning with blended families.

 

Thank you,

Christina Jones                                                                                  Julia Green

Financial Planner                                                                             Attorney at Law

CERTIFIED FINANCIAL PLANNER™                                        Stewart, Melvin & Frost

[email protected]

 

Raymond James is not affiliated with Julia Greene or any of the attorneys or law firms mentioned in this newsletter. Any opinions are those of Julia Greene and Christina Jones and not necessarily those of Raymond James.

 

McKinley, Irvin. 32 Shocking Divorce Statistics. Retrieved from

https://www.mckinleyirvin.com/Family-Law-Blog/2012/October/32-Shocking-Divorce-

Statistics.aspx.

Securities offered through Raymond James Financial Services, In., Member FINRA/SIPC.  Investment advisory services offered through Raymond James Financial Services Advisors, Inc. Dominguez & Jones Wealth Management Group is not a registered broker/dealer, and is independent of Raymond James Financial Services. Raymond James financial advisors may only conduct business with residents of the states and/or jurisdications for which they are propertly registered.  Therefore, a response to a request for information may be delayed.  Please note that not all of the investments and services mentioned are available in every state.  Investors outside of the United States are subject to securities and tax regulations within their application jurisdications that are not addressed on this site.  Contact your local Raymond James office for information and availability. Links are being provided for information purposes only.  Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors.  Raymond James is not responsible for the content of any website or the collection or use of information regarding any website's users and/or members.
Click Here to view the Raymond James Corporate Privacy Notice.