Divorce is often an emotionally charged and financially intricate process. In the latest episode of Divorce Diaries: Lessons from the Trenches, host Cary Jacobson welcomes Amanda Campbell, a Certified Financial Planner™ (CFP®) and Certified Divorce Financial Analyst® (CDFA®), to share actionable insights and strategies for navigating the financial complexities of divorce. Amanda’s passion for empowering women and her extensive expertise shine through in this enlightening conversation.
Amanda’s Path to Helping Women in Divorce
Amanda’s career is deeply rooted in her personal experiences and a drive to make a difference. After witnessing her mother take charge of their family’s finances following her father’s death, Amanda was inspired to help women navigate similar challenges. As a CFP and CDFA, she specializes in guiding women through the financial uncertainties of divorce, helping them build a secure and independent future.
Her mission is clear: to ensure women emerge from divorce with the financial clarity and confidence they need to thrive.
Key Insights from the Episode
In this episode, Amanda chats with Cary about the most practical advice for tackling some of the most common financial challenges in divorce:
– Reassessing the Marital Home
The decision to keep or sell the marital home is often an emotional one. Amanda advises evaluating the financial implications, including maintenance costs, mortgage rates, and long-term feasibility.
She emphasizes the importance of creating a realistic plan that balances emotional needs with financial realities.
– Avoiding Costly Mistakes
Amanda highlights the pitfalls of unequal asset trades, such as swapping retirement accounts for liquid cash without considering tax liabilities.
She also explains how to identify hidden costs in investment accounts, like low-cost basis stocks, that can lead to significant tax burdens.
– Children’s Financial Needs
Planning for children’s expenses, such as college tuition and extracurricular activities, requires a collaborative and realistic approach. Amanda encourages parents to prioritize transparency and fairness in these discussions.
– The Importance of a Strong Support Team
Amanda underscores one of Jacobson Family Law’s core beliefs: the necessity of building a reliable support team during divorce. This includes:
A skilled divorce attorney to handle the legal aspects.
A knowledgeable financial professional to guide monetary decisions.
A compassionate mental health professional to support emotional well-being.
A practical divorce coach to help manage the overall process.
By surrounding yourself with experts, you can make informed decisions and feel supported every step of the way.
Partnering with Jacobson Family Law
If you’re considering divorce and looking for a trusted legal partner to guide you through the process, Jacobson Family Law is here to help. Led by Cary Jacobson, the firm specializes in alternative dispute resolutions, including mediation and collaborative divorce, to minimize emotional and financial stress.
Take the first step toward clarity and resolution by scheduling a consultation with Jacobson Family Law.
Call (443) 726-4912 or visit Jacobson Family Law to learn more about their services.
