Divorce Financial Planning
Being newly single, whether by divorce or widowhood, introduces new financial challenges. At this time , you need someone experienced who you can rely on.
Divorcees and widows need a professional to trust, manage their wealth, and help keep them financially secure. Kevin's goal is to help manage their finances, so they can have a comfortable and worry-free life. With over two decades experience in all types of investing conditions, our goal is to provide our clients with confidence in their future.
Bourke Wealth Management can assist those facing a divorce, along with their attorney, review various settlement scenarios. Often the long term impact is quite different than what the divorcing parties expected. After the divorce, we are able to assist you, our client, with the financial decisions you must make as a single individual, perhaps even a single parent.
Questions arise like:
- How will I manage my money?
- How can I best preserve my capital and still watch my money grow?
- How can I plan my children's education?
- What happens to my children if something happens to me?
- How do I begin planning my retirement?
- How much can I spend and not outlive my money?
Kevin has helped investors of all stripes, having taught hundreds of individuals and institutions ways to help preserve assets, increase income potential, and reduce taxes.
As a Certified Divorce Financial Analyst, he is qualified to assist those facing divorce. Those facing the loss of a spouse have similar issues. At a time when emotions are high, and the future uncertain, it pays to have someone explain, simplify, and guide you through new terrain.
We understand that financial decisions cannot be made in a vacuum. Emotions, children's needs, memories, all play a part. Kevin Bourke listens carefully to your desires and will help you craft a comprehensive plan that addresses the whole picture, not just the dollars and cents. We partner with your attorney and tax preparer to ensure that your entire financial picture is successfully developed.
Divorce Article: Here is Kevin's article published in the Santa Barbara Independent online that provides helpful advice to those involved in divorce proceedings.
Helpful Divorce Resources
Below is a list of websites, books, and checklists that will help you on the road toward a successful divorce and beyond.
Websites:
http://www.courtinfo.ca.gov/selfhelp/family/ -The State of CA provides this site to help those with legal questions. Very simple and informative. This site will assist you in deciding which paperwork you might need and how to fill it out, line by line.
www.peacefuldivorce.ning.com -This site will put you in a circle with others experiencing the same emotions and events. There is also a liberal sprinkling of experts in the field of divorce sharing some of the latest thinking on the subject.
www.thedivorceforum.com -Susan Allan, America’s leading Marriage and Divorce Coach and author of “Ask The Love and Relationship Coach” and “Ask The Divorce Coach” provides useful insights and tips.
Books:
General Divorce Books
The IDFA Divorce Survival Guide
By Fadi Baradihi and Nancy Kurn
This book may help you make better decisions, saving you time, money, and emotional stress. It includes answers to the most common divorce questions – from filing for divorce to property division to child custody to spousal support as well as useful checklists and worksheets.
Collaborative Law: Achieving Effective Resolution in Divorce without Litigation
By Pauline H. Tesler
This handbook explains the new dispute resolution model of collaborative law, in which a divorcing couple works out their own agreement with their collaborative lawyers by their sides to act as advisors regarding legal rights and obligations.
Divorce For Dummies (Second Edition)
By John Ventura and Mary Reed
Divorce doesn't have to be about winners, losers, and huge legal bills. Filled with practical advice, this friendly guide demystifies the process, explaining revised family, divorce, and bankruptcy laws and current child support trends in plain English.
The Divorce Handbook (Revised Edition)
By James T. Friedman
A specialist in family law, James Friedman offers an easy-to-use question-and-answer format to address all the issues involved in negotiating a separation and divorce.
Don’t Settle for Less
By Beverly Pekala
A Chicago-based attorney with years of experience in family law, Pekala shows women how to take a proactive stance to help ensure beneficial financial settlements as well as appropriate custody and visitation arrangements.
Divorce and the Military II
By Marsha L Thole
This is a comprehensive divorce guide for military members, spouses and their attorneys.
Impact Publishers
Impact Publishers carries a list of psychology and self-improvement books and audio-tapes for adults, children, families, organizations, and communities. You can order books directly from the publisher: www.impactpublishers.com
Sphinx Legal
Sphinx Legal (a division of Sourcebooks, Inc.) publishes a number of divorce guides for individual states. Visit www.sphinxlegal.com for more information.
Financial Issues of Divorce
The Property Division Handbook
This book features: 108 frequently asked questions about property division, state-by-state property distribution laws and principles, a 40-page financial and divorce information check list, and a comprehensive divorce glossary. Available at www.divorcesource.com
Divorce and Money: How to Make the Best Financial Decisions During Divorce, 5th Edition
By Violet Woodhouse, JD, CFP and Dale Fethering
This book covers how to: determine the real value of the house, investments and other property; divide debt; buyout of a family business; set spousal support and child support; negotiate a settlement that is fair to both of you. Provides worksheets, charts, formulas, tables and tax law updates.
Divorce Solutions: How to Make any Divorce Better
By Ed Sherman
Divorce attorney Ed Sherman offers professional advice, insights, recommendations, and instructions for negotiating agreements, protecting your rights, dividing property, dealing with emotional issues, and much more.
Divorce Strategy: Tactics for a Civil Financial Divorce
By Laura Johnson
This step-by-step guide gives you the tools and information you need to plan and manage your financial divorce, helping you to reduce, and in some cases eliminate, the negative financial consequences often associated with divorce.
www.smartdivorce.com
Don’t Settle for Less
By Beverly Pekala, JD
This book shows women how to take a proactive stance to help ensure beneficial financial settlements as well as appropriate custody and visitation arrangements.
Fair Share Divorce for Women (Second Edition)
Kathleen Miller, CFP, CDFA
This book gives women the support and guidance they may need to safeguard their marital assets and ensure winning a fair share of equity in their divorce settlement. This practical guide integrates legal and emotional aspects with comprehensive coverage of the financial aspects of divorce to help readers cope with divorce and create a sound financial plan.
Valuation Strategies in Divorce
By Robert D. Feder
This book is a guide to valuing major assets in a divorce case from the appraiser’s perspective.
Valuing Specific Assets in Divorce
By Robert D. Feder
This is a companion book to Valuation Strategies in Divorce (see above). Detailed information is provided on how to evaluate specific types of marital assets, and accounting and financial conventions that affect the owner’s income from the assets.
Mediation
Choosing a Divorce Mediator: A Guide to Help Divorcing Couples Find a Competent Mediator
By Diane Neumann, JD
This book offers a comprehensive guide to the process of selecting a divorce mediator.
The Divorce Mediation Answer Book
By Carol A. Butler, PhD, and Dolores D. Walker, MSW, JD
Two seasoned mediation experts combine their talents as a psychotherapist and lawyer to address the many issues involved in mediation from finding a mediator and dealing with emotions to discussing custody arrangements and understanding financial terms and agreements.
The Divorce Mediation Handbook
By Paula James, JD and Mediator
This book presents a clear view of what actually takes place in the mediation sessions and shows how couples can create a process that is non-adversarial and healthier for everyone involved.
A Guide to Divorce Mediation
By Gary J. Friedman, JD
As a foremost authority on mediation in divorce, Gary Friedman provides guidance and insight into the mediation process.
Settle It!
By Karen Vagiste
This book details an easy to follow process to help you learn how to: mediate your dispute no matter how difficult communicating with your ex may be; express your anger more constructively; and settle disputes peacefully and effectively.
Using Divorce Mediation: Save Your Money and Your Sanity
By Katherine E. Stoner, JD and Mediator
This book is a complete guide to the divorce mediation process. It includes instructions, worksheets and checklists.
Retirement Plans and QDROS in Divorce
Dividing Pensions in Divorce, Second Edition
By Gary A Shulman, Esq. and David I. Kelley, CPE, CFE
Reviews issues such as: traps and pitfalls that could limit the non-participating spouse’s rights, deciding when Social Security should be offset against the other’s pension, and realizing
the shortcomings of receiving offsetting assets in lieu of a QDRO.
Divorce: Who Gets the Retirement Accounts
By Violet Woodhouse, JD and Dale Fethering
The e-book will take you step by step through the process of figuring out how to divide your retirement plans when you divorce.
Value of Pensions in Divorce (Third Edition)
By Marvin Snyder
This book is a comprehensive guide to conducting a preliminary pension valuation, determining the pension’s relative importance in the distribution of assets in a divorce, and hiring a valuation expert.
Tax Issues in Divorce
Tax Aspects of Divorce
By Larry J. Kasper, CPA, CVA
This book has been invaluable to people experiencing divorce or separation. It is a thorough reference for every Internal Revenue Code Section that is likely to be encountered in the divorce process. Available at www.divorcesource.com/webcart/taxaspects.html or
www.kaspercpa.com.
Checklists and Worksheets:
Here are few helpful checklists and worksheets that will aid in guiding you through your divorce.
Documentation Checklist: This checklist provides you with a list of all the documentation you will be expected to provide in order to begin the casework on your file.
Resources for Attorneys:
Books:
Bankruptcy and Divorce: Support and Property Division
By Judith K. Fitzgerald, Ramona M. Area-Baker
This is an excellent reference book for attorneys and financial advisors, for use when divorce and bankruptcy clash. Shows the difference between the marital estate and bankruptcy estate. This book covers discharging joint debt, support and property settlement obligations, avoiding liens, preferential transfers of property, premarital agreements and their relationship to bankruptcy law and many other bankruptcy-divorce issues.
Qualified Domestic Relations Order Handbook
By Gary A. Shulman, Esq.
Prepared for attorneys and pension plan administrators, this handbook details the elements of the QDRO, the standards that are required to satisfy ERISA requirements, and step-by-step procedures to qualify the order as a QDRO. Includes sample QDRO’s, letters, forms, and other documentation used in the process of qualification.
Qualified Domestics Relations Order Answer Book
By Mark Dundee and Victor B. Meyen, Esq.
The QDRO Answer Book is one source to turn to for comprehensive guidance on administration and compliance of QDRO’s. Written for human resources and employee benefit professionals, plan administrators, and attorneys, the QDRO Answer Book provides practical advice and tips on every stage of the QDRO process to help ensure legal qualification and compliance at all times. Contains model language and checklists.
Miscellaneous
This is for information purposes only. I do not provide any tax or legal advice. Please consult a tax or legal professional, respectively, on you specific situation.
|
