Debbie was newly divorced and receiving $150k alimony for a ten-year period.  She had approximately $200k in cash and assets that were still jointly held with her ex-husband, but she did not have a relationship with a Financial Adviser she felt comfortable with.  Her daughter was away at college and her teenage son was spending the majority of his time with his father.  Although she had trained as a CPA, she had not worked outside of the home since her children were born.

Debbie had multiple problems, she needed to:

• Take stock of where she was by organizing all of the financial issues and documents.
• Prioritize each issue and decide which would be addressed first.
• Take action, including finding and hiring the appropriate financial professionals.
• Create a vision for her new life that gave her a reason to get out of bed in the morning.

Obviously, none of these issues could be resolved overnight.   Recovering from a divorce takes time, energy and motivation.  Often it’s difficult to separate the emotional issues from the practical matters that need to be addressed.  I worked with Debbie to take one-step at a time. She started working with:

• A Financial Adviser who was able to help her create an investment strategy that she felt comfortable would support her well beyond the ten-year alimony period;
• An Attorney to change her will and other appropriate legal documents to ensure that her children would be taken care of and that she herself would be cared for according to her wishes; and
• Her CPA in order to avoid any surprises on her first post-divorce tax return.

We also systematically addressed each of the jointly held assets until each asset was separated, allowing her to feel financially independent and in charge of her money.

At the same time, we talked at length about how she liked to spend her time and the kind of work she might like to pursue.  It turned out she was passionate about gardening, and she decided to go back to college to study landscape design.  Even though she didn’t need the income at the moment, when a job at a local nursery opened up, she began working there part-time just to get her out of the house and working with people in the field.

Debbie was living alone for the first time in her life and was feeling worthless, abandoned and fearful of her future.  Our work together gave her a shoulder to lean on; someone to help her sift through the ashes of her marriage, motivate her to address each matter at hand and work the problem to completion.  We were also able to discover what she was passionate about, and she had the encouragement and support that allowed her to take the steps toward a new career.  Over time, she gained confidence in her ability to manage her finances and was excited about the new life ahead of her.

If you find yourself in a similar situation, I’m here to help.   Please contact me to schedule your Free 30-Minute Consultation.