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    Kids & Family

    Financially Ever After Widowhood

    Widowhood is the state of being a widow or widower: a person whose spouse has passed away. This is a situation that no one wants to be in, but it is something that can happen, and that you and your family should be prepared for financially. When this kind of painful, life altering event occurs, it’s important to have the structure in place for you and your family to be protected, and this year on Financially Ever After Widowhood, Stacy Francis is going to be talking to a diverse lineup of experts, and individuals who have gone through it themselves, to give you the tools and information you need to be prepared.

    Prior to this year’s series on Widowhood, Financially Ever After covered topics related to divorce. We invite you to check out these fantastic episodes if they are relevant to you.

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    Latest Episodes:
    Steps to Take Before You Say ‘I Do’... Dec 27, 2022
    Show notes

    Morgan Mouchette is a Matrimonial and Family Law Partner at Blank Rome LLP specializing in divorce, child custody, and prenuptial agreements. She provides tailored support based on each family's unique circumstances and needs. In this episode, Morgan and Stacy Francis discuss prenuptial agreements, why they are recommended, and debunk some common misconceptions about them. Morgan discusses what you can do if you believe your prenup is unfair to you.


    • A prenuptial agreement can help couples make financial arrangements and discuss their relationship ahead of their marriage. However, not everyone needs a prenuptial agreement, and each person should do it with knowledge and foresight.
    • The most common misconception about prenuptial agreements is that they only protect the prospective spouse with all of the assets, but a good lawyer can even use prenuptial agreements to protect the spouse who has a lower income level.
    • When getting married, you should open new accounts so that you can separate marital property from personal finances.
    • If you signed a prenuptial agreement but no longer consider its parameters fair or equal, get as much information about your marriage's finances as you can. It’s empowering to have the data because you will have the necessary information to make decisions, whether that be divorce or otherwise.


    Resources

    Morgan Mouchette on the web | LinkedIn

    Email: morgan.mouchette@blankrome.com

    Phone: 212-885-5386

    BlankRome.com

    Article: How to Talk About Money With a Partner


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    On Inheritances and Second Marriages Dec 13, 2022
    Show notes

    Gary Botwinick is co-managing partner of Einhorn Barbarito Frost & Botwinick and Chair of the firm’s Trust and Estates/Taxation Practice Group. He is an estate planning expert with a deep background in taxation, estate administration, corporate formation, and succession planning. Gary shares some of the top issues that couples face in second marriages, especially if there are children involved, and gives important tips on how to make sure your assets pass on successfully.


    • Estate planning isn’t just for the wealthy. Your estate plan should clearly outline how your assets will be passed on to your children, regardless of the size of your estate.
    • Blended families often leave assets to their surviving spouse when planning how to divide assets after a death, but their spouse can easily change their mind. Children of the late spouse may be disinherited as a result.
    • More people need to consider trusts as a vehicle to protect their families, instead of writing it off as something only rich people have.
    • Have conversations with your children about money and spending habits. It teaches them lessons about financial responsibility and the value of a dollar. This is especially relevant for children whose parents have worked hard to provide them with a comfortable lifestyle.


    Resources

    Gary Botwinick on LinkedIn | Twitter

    Contact Gary: 973-6277 300

    EihornHarris.com


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Your Health is Your Wealth Nov 29, 2022
    Show notes

    Amber Flanagan, CFP, is Principal at ASHCON Financial and advises clients from all walks of life about their financial and insurance needs. Her approach is to listen to her clients' unique situations, then determine what actions best suit their needs.


    Dr. Gerda Maissel, known as “The Medical Sherpa,” is a Physical Medicine and Rehabilitation Medicine physician, former health system executive, and founder of My MD Advisor. Her role is to advocate for patients with complicated medical problems and help them access the best possible treatment.


    In this episode, Amber and Dr. Gerda discuss the health insurance options available to women after divorce, as well as tips on how to afford better medical care and prevent medical mistakes.


    • Healthcare in the US is particularly difficult for immigrants, women, people of color, and other social groups considered different. White men are not immune from not paying attention and coordinating care.
    • COBRA typically allows divorcess to remain on their previous health insurance plan for up to 18 months, unless there are extenuating circumstances.
    • Doctors do not want noncompliant patients - if you and your doctor aren’t getting along, they probably don’t want you in their practice. It’s better for both parties to move on to other people if the relationship isn’t therapeutic.
    • You can put money into an HSA (Health Savings Account) at a tax-free rate once you have a policy approved by the IRS.


    Resources

    Amber Flanagan on LinkedIn | Facebook

    Email: aflanagan@ashconfinancial.com

    Contact Amber at: 347-574-6615

    AshConFinancial.com


    Dr. Gerda Maissel on LinkedIn

    Email: Gm@mymdadvisor.com

    Contact Dr. Gerda at: 845-316-0175

    MyMDAdvisor.com


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Money Tips for Launching Financial Grownups Nov 15, 2022
    Show notes

    Bobbi Rebell, CFP® is the author of Launching Financial Grownups: Live Your Richest Life by Helping Your (Almost) Adult Kids Become Everyday Money Smart, a financial literacy advocate, the host of the Money Tips for Financial Grownups podcast and the founder of GrownupGear.com. She was previously a global business news anchor and personal finance columnist at Reuters and held various journalist positions at top news outlets, including CNBC, CNN, and PBS. Bobbi discusses the importance of gift-giving to children and how it can help them become financially successful adults. She also provides advice for parents on how to raise financially responsible children and how to ensure financial security post-divorce.


    • Thanks to the Affordable Care Act, parents can now keep their children on their health insurance plan and have other financial ties to them until age 26.
    • After a divorce, it’s important to take some time for introspection and identify what’s important to you. When reentering the dating pool and going into another marriage, you should have common values with your partner. That doesn’t mean you have to agree with every financial decision - you should just want the same things.
    • Talking about money in a kind and respectful way is conducive to building and maintaining a healthy relationship. When disagreements arise, be sure to pick your battles wisely.
    • Oversubsidizing your children to a level where it hurts your future also hurts them. There will come a time when you can no longer sponsor their livelihood, which leaves them floundering as they have not learned how to be a skilled financial grownup.


    Resources

    Bobbi Rebell on the Web | LinkedIn | Twitter

    Email: hello@financialgrownup.com

    GrownUpGear.com

    Sign up for Bobbi’s newsletter!


    Get Launching Financial GrownUps here!

    Liked the book? Leave a review here!

    Bobbi is happy to answer questions about her book.


    Jewish Women International


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com

    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Estate Planning During and After Divorce Nov 01, 2022
    Show notes

    Paula Jones is founder and Principal of Jones Estate Group and adjunct professor at the Western New England University School of Law. With over 25 years of experience, both internationally and domestically, she helps individuals of moderate to high net worth ensure that their assets transfer to the people they love in the right way. Paula shares how listeners can protect themselves and their family during the divorce process in the event of an untimely death. She busts a myth about wills and talks about what to do after divorce where estate planning is concerned.


    • If a divorced or divorcing couple has a settlement agreement, they must honor that agreement when drawing up an estate plan. Existing obligations that continue from a divorce are legal duties, and they cannot be ignored, or else they may face legal repercussions.
    • An estate plan is not just about putting together a will and getting powers of attorney. It involves identifying your assets and who owns them, who your beneficiaries are, how your assets are titled, and if they need to be retitled so they all wind up in the same place.
    • Tenancy by the entirety is a legal arrangement that applies to married couples, where they share equal ownership of an asset with survivorship rights. In the event one of them passes, ownership automatically passes to the survivor.
    • Power of attorney is a legal authorization for a designated person to make decisions on another person’s behalf. A complete estate plan includes a will and financial and medical powers of attorney. You should name a primary choice and a backup choice.


    Resources

    Paula Jones on LinkedIn


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Hide and Seek with Fraud Oct 18, 2022
    Show notes

    Tracy Coenen is a Forensic Consultant and Fraud Investigator at Sequence Inc. Forensic Accounting. She is also the creator of the Divorce Money Guide, an online 10-step handbook for people going through divorce who suspect their spouse has been fraudulent. For over 25 years, she has been conducting fraud investigations. She also specializes in family law and divorce, and litigation. Tracy shares how to find out the likelihood of fraud in your marriage, and what to do about hidden investments.


    • In divorces where one spouse is trying to pull the wool over the other’s eyes, that spouse is usually the one in charge of the finances. The spouse being deceived typically doesn’t know the in and out of every dollar.
    • Financial infidelity involves lying about how much money you have and where the accounts are, having hidden accounts, and spending money inappropriately outside of the agreements you have as spouses.
    • Sending a subpoena to a bank is something your attorney can do to investigate your spouse’s transaction history, among other things. A subpoena is a legal document that instructs an institution to comply with an investigation by submitting the relevant documents.
    • If you need support, have a friend or family member who’s good with numbers sit with you and go through the information you’ve collected.


    Resources

    Tracy Coenen on LinkedIn | Instagram

    Email: tracy@sequenceinc.com

    SequenceInc.com

    Your Divorce Money Guide (Coupon code for $100 off Divorce Money Guide: FRANCIS)

    Red Flag Assessment



    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Getting the Bang for Your Buck in Real Estate Oct 04, 2022
    Show notes

    Melissa Rubenstein is a residential and commercial real estate agent at Christie's International Real Estate in Northern New Jersey. For the past 18 years, she has had her thumb on the pulse of what happens in real estate across the country. She is also an expert in divorce, her practice lending the relevant know-how to help clients navigate the challenges of buying and selling property. Melissa shares insights on current market conditions, and gives advice on how to get top dollar for your property when selling.


    • During the thick of the pandemic, interest rates in the real estate market dropped to historic lows of around 2.5% - 3%. Many people took advantage of this amazing opportunity to buy their first home, which resulted in a scarcity of inventory.
    • Prices are softening in luxury markets. With the lifted restrictions, people have resumed commuting to work, so they aren’t spending as much time in their homes.
    • Investors should consider whether it’s a good idea to flip a house in the current market climate. Houses that need to be renovated are at price points that have investors competing against first-time home buyers.
    • Doing a pre-listing inspection for divorcing sellers ensures there are no surprises. You can negotiate before bringing in a buyer. Having two sellers negotiate inspection items is a lot easier than having two sellers who may not be communicating.


    Resources

    Melissa Rubenstein on the web | LinkedIn | Instagram | Facebook

    MovesByMelissa.com

    Email: movesbymelissa@gmail.com

    Office: 201-962-9552

    Mobile: 646-872-5912


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Co-Parenting After Divorce Sep 20, 2022
    Show notes

    Sherry Smith is a licensed marriage and family therapist, psychotherapist, certified divorce coach, author, speaker, and podcast host. She combines her training, practice, and experiences to promote non-adversarial divorce environments that support the family system. Sherry defines and describes co-parenting and shares tools, techniques, and resources parents can use to ensure their children are supported and empowered.


    • Co-parenting occurs when you and your former spouse have a somewhat amicable relationship and are united in how you raise your children. Your parenting relationship is still there as it was before, but you’re doing it from two different homes.
    • Parenting coordinators are individuals who act as an intermediary between the parents and help them learn how to communicate more effectively. They are helpful in situations where there’s difficulty and enmity between the parents.
    • When frustrations arise, it’s easy to say things in the height of emotion, but you often regret it as the dust settles. Instead, you should take some time to calm down and engage in a self-soothing practice, like deep breathing, to gather your thoughts and communicate them in a progressive manner.
    • Sometimes, situations occur when one parent is neutral about their former spouse in front of their children so they can foster love for the other parent, but the other parent speaks negatively about them. In time, the children will see which parent is more well-adjusted.


    Resources

    Sherry Smith on LinkedIn | Facebook | Instagram: @divorce_resiliency

    DivorceResiliency.com

    Email: Sherry@divorceresiliency.com


    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Finding The Right Financial Advisor Sep 07, 2022
    Show notes

    Deborah Nason is a journalist who has been covering business for the past 20 years, for both InvestmentNews and CNBC.com. She is on a mission to ensure people of all income levels get the financial advice and guidance they need. Deborah shares resources for helping people find the ideal financial advisor regardless of the state of their wallet, including some fantastic pro bono deals.


    • A financial advisor is a trained, experienced professional who helps you understand your financial options, create a comprehensive financial plan, and make the right financial decisions along the way. They can help you plan a holistic approach to your financial life.
    • Financial planning does not always involve investment management. Regardless of whether you plan to invest or not, it’s a good practice to have a financial advisor helping you with income and expense planning, creating goals, and maximizing your employee benefits.
    • One of the best ways to ensure your advisor has the relevant experience in expertise and designations is by doing a broker check on FINRA.
    • Like medical professionals, financial advisors also specialize. From divorce to entrepreneurship, there are a multitude of specializations under the financial advisor umbrella. The idea is to find somebody who really understands who you are and what you're about.


    Resources

    Deborah Nason on LinkedIn | Twitter | Facebook

    Email: findtherightfinancialadvisor@gmail.com

    C4SB.com

    The People’s Guide to Finding the Right Financial Advisor


    FINRA.org

    FINRA Broker Check

    IAPD - Investment Advisor Public Disclosure

    Securities Investor Protection Corporation

    Savvy Ladies

    Foundation for Financial Planning

    XY Planning Network

    Garrett Planning Network



    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


    Returning to Work after Divorce Aug 23, 2022
    Show notes

    Elizabeth Eiss is founder and CEO of ResultsResourcing, an online recruiting platform that matches employers with the right people. She is a serial entrepreneur, investor and gig economy expert who is passionate about business and driving win-win solutions for buyers and sellers in today's fluid talent market. Kelley Joyce is a career coach helping professionals discover their career path and land their dream job with confidence. She is founder and CEO of The Truth At Work, where she works with individuals who want to take their career to the next level. They share insights about all things careers, including tips for resume writing and calculating the value of your time. Elizabeth and Kelley discuss how listeners can elevate their careers and earn the income they deserve.


    • Technology has created marketplaces that allow people who need skills to find people that have skills. If you want to work as a freelancer, you need to know what you’re good at and be able to translate that into a technology platform.
    • Figuring out what you want to do with your life isn’t easy regardless of how old you are. Getting in touch with your ‘why’ makes it easier.
    • One of the stumbling blocks in getting your first job is a company’s objective to get results - this proves as an obstacle to many because they don’t have the results in the package the company is used to seeing.
    • When writing a resume, start by gathering information about yourself and then decide how you want to present it. The cover letter should include three compelling reasons why someone should hire you.


    Resources

    Elizabeth Ellis on LinkedIn | Twitter

    Email: eeiss@resultsresourcing.com

    ResultsResourcing.net | How We Help Video

    ROI Calculator: Value of Time


    Kelley Joyce on LinkedIn | Twitter

    Phone: 917-566-0808

    Email: kelley@thetruthatwork.com

    Complimentary Consultation

    TheTruthAtWork.com

    Resume Writing Roadmap

    Free copy of Kelley’s ebook Resume Writing Roadmap

    Free copy of Kelley’s ebook 5 Simple Ways to Find Your Dream Job

    Myers-Briggs Test

    The Strong Interest Inventory

    *Kelley is a certified assessor of the Myers-Briggs Type Indicator (MBTI) and the STRONG Interest Inventory. Both tools require a trained and licensed assessor for its proper administration and evaluation.


    Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher and William Ury

    What Color is Your Parachute? by Richard Nelson Bolles



    Stacy Francis on LinkedIn | Twitter

    Email: stacy@francisfinancial.com

    FrancisFinancial.com


    Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!


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