Kim

Divorcing COO Mom of 3

Background

Kim is married, 45 and is COO at a large company. She and her husband have been to therapy many times but unable to work things out and have decided to divorce. Kim’s husband had recently been laid off and he was trying to find a new job. In most other ways things were going great for Kim and the kids. While Kim knows of other divorced people she has little personal experience with it and prefers to keep most of it private. She is normally very organized and prepared but now feels unsure how to handle this and what to do next. She and her husband have a financial planner but she knows that planner must represent both of them given their current arrangement and does not have specific divorce experience.

Goals

Determine with husband if they can mediate the divorce. Interview & select an attorney based on type of process and fit.
Find a CDFA (Certified Divorce Financial Analyst) to provide advice with financial planning and quantitative aspects of the divorce.
Research considerations and best practices to ease things for kids and also to remain her best at work.
Design and propose to husband an interim living and financial arrangement as part of transition to desired final agreement.

Challenges

Kim has the only income in the household currently and she wonders how this will affect the divorce process. How will her husband be able to live until he gets a new job?
Much of the marital assets are tied up in their home, antique car collection, stock options and 401ks. What type of creative settlements can be proposed that allow her and the kids to stay in the home?
Both she and husband had 401Ks and some assets prior the marriage. How would those be handled?
Besides the mortgage their nanny is the largest routine budget item. Her husband has been pushing to get rid of their nanny given his income loss yet he has never shown an interest in being the caregiver. She is very concerned about her ability to work in all of this and maintaining some stability for the kids.

Approach

We can help Kim evaluate their family finances and determines options for an interim living setup during the separation. Kim also could use help analyzing settlement scenarios and what she can afford. ROI can support Kim with our CDFA (Certified Divorce Financial Analyst) services to navigate through the divorce settlement and planning for her newly single life.

All scenarios and names mentioned are hypothetical examples and have been created for educational purposes. Any resemblances are co-incidental.
The information presented should not be used as the basis for specific investment advice.

Kim

Divorcing COO Mom of 3

Background

Goals

Challenges

Approach

ROI of Life – Serving clients virtually across the United States and locally in the Northwest Chicago suburbs