5 Money Moves to Make Before, During, and After Divorce with CDFA Kristina Heckel
Show Notes
Divorce comes with a lot of money decisions, and a lot of paperwork that doesn't end when the decree is signed. In this episode of Divorce Happens, Certified Divorce Financial Analyst Kristina Heckel shares five practical tips for getting your finances organized. It's for anyone considering divorce, going through it, or rebuilding afterward.
About our guest
Kristina Heckel, CDFAยฎ, CFEIยฎ, is a Certified Divorce Financial Analyst and the principal and founder of Bloom Divorce Advisory Services, based in Arizona. She helps clients understand the financial side of divorce, including settlement scenario modeling. Kristina is a Fresh Starts expert, and you can find her on her Fresh Starts Registry expert profile, on Instagram, on LinkedIn, and on Facebook.
Kristina's five tips
- Take yourself on a money date. Once a month, spend undisturbed time reviewing what's coming in, what's going out, and any subscriptions you've forgotten about. A budgeting app can pull your transactions together.
- Grace with a plan. When decision fatigue sets in, pause and sort what needs attention now from what can wait. Keep time-sensitive deadlines in a calendar that works for you.
- Build your paper trail before anyone asks for it. Organize what you own, what you owe, and how money moves between accounts. Having it ready can save you money in attorney hours.
- Not every dollar is the same. Cash, after-tax dollars, and retirement dollars carry different value depending on your situation. If you're awarded part of a 401(k), a separate domestic relations order is needed to divide it.
- The paperwork after the paperwork. After your divorce is final, follow through on beneficiary changes, deed transfers, utilities, retitling, and refinancing. Some of these come with strict deadlines that depend on where you live.
Resources mentioned
- The Vault Kit and the Bloom Forward community from Bloom Divorce Advisory Services
- Fresh Starts Registry offers free consults, a vetted expert network, and free guides.
Where to listen and subscribe
Listen to the full episode on Spotify. You can also follow Divorce Happens on Instagram and join The Divorce Happens Community on Substack.
Thank you to Kristina for sharing her expertise with our community, and thank you for listening.
This episode is for general information and isn't financial, tax, or legal advice. Rules for retirement accounts and transferring assets vary by account type and by state.