DiscoverMoney & You with Michelle PerkinsEP 135: Safeguarding Your Finances When Your Relationship Ends
EP 135: Safeguarding Your Finances When Your Relationship Ends

EP 135: Safeguarding Your Finances When Your Relationship Ends

Update: 2024-06-17
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The podcast featured a solo show discussing financial planning for divorce, focusing on the importance of understanding assets acquired before and during marriage. The speaker emphasized the need for organizing financial accounts, knowing household expenses, reviewing beneficiaries, and securing passwords. They highlighted the significance of differentiating between pre-marital and post marital assets, including inherited assets, to ensure proper handling during divorce proceedings. The speaker also stressed the importance of monitoring credit and creating a post-divorce budget to navigate the financial implications of divorce. The discussion aimed to provide listeners with practical advice on preparing financially for divorce if you think that could be a possibility, and emphasized the importance of proactive financial planning in any relationship. The podcast serves as a valuable resource for individuals navigating divorce or seeking to enhance their financial literacy.

In this solo episode of Money & You, host Michelle Perkins discusses the importance of safeguarding your finances when facing the end of a relationship, specifically divorce. She provides valuable insights and tips on how to prepare financially for this life-changing transition.
**Main Topics Discussed:**- Differentiating between assets acquired before and during the marriage- Walk Away Wife Syndrome- The role of forensic accounting in divorce proceedings- Organizing financials and knowing all accounts- Reviewing household expenses and property titles- Considering inherited assets and beneficiaries- Securing passwords and pins on individual accounts- Monitoring and protecting credit during divorce- Creating a post-divorce budget for financial stability
**Key Takeaways:**- It is essential to know all your assets and understand which ones are marital assets and which are separate.- Forensic accounting can help uncover hidden or missing assets during divorce proceedings.- Organizing finances and understanding household expenses is crucial for financial preparedness.- Reviewing beneficiaries, securing passwords, and monitoring credit are important steps during divorce.- Creating a post-divorce budget can provide clarity and peace of mind for financial stability.- The episode emphasizes the importance of proactive financial planning, whether facing divorce or not.- Listeners are encouraged to communicate openly with their partners and seek legal and financial advice when necessary.- The podcast provides valuable insights into navigating the financial aspects of divorce and safeguarding one's financial future.

For much more on ALL things money mindset, money management, how to earn a great living and take control of your finances…Subscribe to my weekly podcast, Money and You:
https://podcasts.apple.com/us/podcast/money-you-with-michelle-perkins/id1365907575?ign-itscg=30200&ign-itsct=podcast_box

And don’t forget to join the Limit Free Life email community for valuable, usable content and to learn about upcoming events: Let’s Connect… https://limitfreelife.com/newsletter/I’m excited to offer you a proven way to develop a next level relationship with money that will empower your mindset and financial mastery by “dating your money.”  Until you understand how YOU relate to money and what you believe about money, nothing will change. Once you begin to get to know yourself with money, learn the fundamentals of money management, and operate in a new way with money, everything will open up. Join my signature  “Your Money Date™” program and I’ll help you make the shift.  https://limitfreelifeworkshops.com/money-date/ The next one begins soon! For more information on Limit Free Life & Michelle Perkins: https://limitfreelife.comLinkedIn: https://www.linkedin.com/in/limitfreelife/Instagram: https://www.instagram.com/livealimitfreelifeYou Tube: https://www.youtube.com/@michelleperkins-limitfreel2446
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EP 135: Safeguarding Your Finances When Your Relationship Ends

EP 135: Safeguarding Your Finances When Your Relationship Ends

Michelle Perkins