Don't Screw up Divorce

In this episode of 'Don't Screw Up Divorce', Fabian Degen discusses the complexities of property division during divorce in New York, emphasizing the difference between equitable distribution and community property states. He highlights the importance of understanding financial implications and the nuances of marital versus separate property to achieve a fair outcome. Takeaways Equitable distribut...

In this podcast episode, Fabian Degen discusses the complexities of dividing retirement accounts during a divorce, emphasizing the importance of understanding the rules governing different types of accounts to avoid costly mistakes. He outlines the specific processes for 401ks, IRAs, and pensions, highlighting the significance of after-tax value in achieving a fair division. Takeaways Understand r...

In this podcast episode, Fabian Degen discusses the complexities of valuing pensions during a divorce, emphasizing the importance of accurate valuations and the potential pitfalls of mispricing. He outlines the two primary methods of dividing pensions and highlights critical considerations such as survivor benefits and the overall retirement income plan. Takeaways Pension valuation is crucial Unde...

In this podcast episode, Fabian Degen discusses the critical role of financial planning during divorce, emphasizing that it is as much a financial event as a legal one. He outlines the responsibilities of a divorce financial analyst, the complexities of managing assets, and the importance of timely and informed decision-making. Takeaways Divorce is a financial event Importance of a divorce financi...

The podcast episode discusses the complexities of dividing an individual retirement account (IRA) in a divorce, highlighting the misconceptions, the right process, value discrepancies between Roth and traditional IRAs, and post-division financial management. Takeaways IRA division in divorce requires careful attention to the right process to avoid tax implications. Understanding the value discrepa...

The podcast discusses the importance of financial analysis in divorce settlements, the role of a Certified Divorce Financial Analyst (CDFA), and the impact of taxes on settlement outcomes. It emphasizes the need for a comprehensive financial forecast and the significance of after-tax value in evaluating settlement options. Takeaways Financial analysis is crucial in divorce settlements After-tax va...

The podcast discusses the most expensive mistake in divorce, the complexities of dividing a 401k, the technicalities of the QDRO, and the importance of tax implications and timelines in the process. Takeaways Dividing a 401k in divorce is complex and requires careful consideration of tax implications. The QDRO is a critical document in the division of a 401k and must be handled with precision. Cha...

Estate planning after divorce is crucial to ensure that beneficiary designations and other financial documents align with the current situation. Failure to update these documents can lead to unintended consequences and legal complications. Fabian Degen provides a checklist for post-divorce estate planning and emphasizes the importance of timely updates and coordination with legal advisors. Takeawa...

In this podcast episode, Fabian Degen discusses the financial aspects of divorce, focusing on asset division in New York. He explains the complexities of dividing assets, the concept of equitable distribution, and the importance of considering tax implications and liquidity in the settlement. He emphasizes the need for careful financial analysis alongside legal work to ensure a fair and sustainabl...

The most expensive document in a divorce is often the one that nobody drafts - the qualified domestic relationship order (QDRO). This document is crucial for moving retirement money and avoiding tax implications. A certified quattro specialist plays a vital role in ensuring the correct drafting and processing of the QDRO. Takeaways QDRO is essential for moving retirement money and avoiding tax imp...

The podcast episode discusses the topic of building a custody case in New York and how to document evidence that holds up in court. It provides valuable insights and recommendations for individuals going through high-conflict custody or visitation matters. Takeaways Documenting evidence is crucial in custody cases Use co-parenting apps and dedicated platforms for communication documentation Chapte...

The podcast episode focuses on the process of custody modification in New York, covering factors considered, proving a change of circumstances, filing for modification, timing and risks of filing, financial considerations, weight of evidence, specialized counsel, and frequently asked questions. The episode concludes with contact information for FMD Wealth Advisors. Takeaways Custody modification i...

The podcast episode features Fabian Degen, owner of FMD Wealth Advisors, discussing the topic of modifying or extending an order of protection in New York State. He provides insights into the legal process, challenges, and practical considerations related to this topic. Takeaways Modifying an order of protection involves a detailed legal process and requires a factual basis for the request. Coordi...

The podcast episode discusses the violation of an order of protection in New York, the enforcement process, penalties, and the importance of legal counsel. It provides insights into preparing for hearings, the financial implications of penalties, and answers frequently asked questions about the process. Takeaways Enforcement of an order of protection involves legal complexities and financial impli...

The podcast discusses the financial planning process after divorce, covering the first 12 months, including the first 30 and 90 days, long-term planning, tax planning, estate planning, and the second year and beyond. It also addresses frequently asked questions related to post-divorce financial planning. Takeaways Financial planning after divorce is crucial for long-term stability. Engaging a cert...

The podcast discusses the financial implications of divorce, focusing on the cost of two households, standard of living expenses, post-divorce expense projection, real adjustments, cash flow importance, challenges in the first year after divorce, and stabilizing financial outcomes after divorce. Takeaways Divorce leads to significant financial changes, especially in the cost of running two househo...

The podcast episode focuses on the tax implications of divorce settlements and the impact of tax laws on financial outcomes. It emphasizes the importance of considering tax implications when structuring divorce settlements. Takeaways Tax implications significantly impact the financial outcomes of divorce settlements. Incorporating tax planning into divorce settlements is crucial for achieving fair...

The podcast discusses the complexities of divorce for business owners, focusing on the valuation and division of the business, cash flow vs. income, structuring the buyout, future earnings, and the impact on partners and stakeholders. It emphasizes the need to coordinate business and personal financial planning and addresses frequently asked questions about business ownership in divorce. Takeaways...

The podcast episode discusses the topic of dividing retirement accounts in a New York divorce without derailing the retirement plan. It covers the importance of careful financial planning, the tax differences between different types of retirement accounts, the valuation of defined benefit pensions, the use of qualified domestic relationship orders (quadros), and the need for modeling the long-term...

This episode discusses the topic of hidden assets in a high net worth divorce, exploring how wealthy spouses conceal money and how forensic accountants find it. It also covers the importance of the net worth statement, the role of forensic accountants, and the significance of information in high net worth divorces. Takeaways Hidden assets in a high net worth divorce can be the result of deliberate...

The podcast episode covers the topic of equitable distribution in divorce, focusing on the 50-50 divorce myth, the difference between marital and separate property, statutory factors for equitable division, the real value of assets, liquidity as a driver of settlement quality, marital waste, trading across asset categories, and understanding equitable distribution. The host, Fabian Degen, provides...

The podcast discusses the complexities of high net worth divorces and the importance of financial planning in addition to legal representation. It emphasizes the need for early involvement of a financial advisor or certified divorce financial analyst to ensure a favorable long-term financial outcome. Takeaways Financial planning is crucial in high net worth divorces Early involvement of a financia...

The podcast episode discusses the pre-divorce financial checklist that every high-asset spouse should consider before filing for divorce. It covers topics such as taking a full inventory of assets, proving pre-marital assets, managing debt and accounts, understanding household cash flow, building the necessary team for a high-asset divorce, and the importance of quiet preparation and avoiding comm...

The podcast episode discusses the intricacies of New York's maintenance cap and its impact on divorce settlements. It covers the calculation, application, and implications of the maintenance cap, as well as the considerations for standard of living, income, tax, duration, financial modeling, negotiation, and client questions. Takeaways Understanding the maintenance cap is essential for building a...

The podcast episode discusses the concept of market downturns as opportunities and the strategy of dollar cost averaging. It explores the emotional reality of investing in a down market, the real cost of pausing investments, the failure of market timing, and the power of dollar cost averaging. It also delves into reframing mindset around market volatility and provides practical steps to stay the c...