Guiding Clients: Financial Aspects of Divorce

On July 9, 2014, the Collaborative Divorce Association of North Jersey was honored to have one of its members and past board member, Hubert Klein, CPA/ABV/CFF, CVA, CFE, give his presentation, “Guiding Clients: Financial Aspects of Divorce.” His presentation included collaborative divorce, mediation and litigation.  Hubert offered a detailed review of the process of filing the complain, the response and management aspects of the divorce process.  During a marriage couples accumulate a lot of financial personal date.  An informative handout provided a detailed list of what each spouse should obtain to get a total picture of the marital estate.

Suggestions were offered on how a financial expert helps the parties sift through the maze of information.  He clarified the actual role of the financial expert.  Major areas in which the financial expert can assist are:

 

*  Gather documents
*  Prepare a current budget
*  Prepare a personal balance sheet
*  Help the client plan and understand current and future
financial obligations
*  Understand the after-tax value of assets available for
equitable distribution
*  Help client understand the tax implications of various
transfers and its implication on liquidity
*  After the divorce, many things need to be taken care of,
such as retitling of assets, facilitate the transfer of IRA’s,
review and update Wills and beneficiaries

A second handout “Seven Financial Mistakes” was offered.

Collaborative members appreciated this excellent educational opportunity .

Walter Loeffer, CPA/ABV, CFF, CVA

A Future International President in Our Midst !

The Collaborative Divorce Association is extremely proud to announce that one of its own, our immediate past President and current Treasurer and Board member, Shireen B. Meistrich, LCSW, has bee selected President Elect of the International Academy of Collaborative Professionals (IACP).  Shireen currently serves as Secretary of the IACP and will assume the Presidency in 2015/2016.  When Shireen assumes the Presidency of the IACP, she will be the first full-time non-attorney President of the organization.

Shireen’s selfless contributions and commitment to the Collaborative movement, internationally and particularly in New Jersey with the Collaborative Divorce Association of North Jersey and as a founding Board member of the New Jersey Council of Collaborative Practice Groups, are unsurpassed.  Shireen serves as a divorce coach and child specialist and is deeply committed to helping families resolve their conflicts with dignity and respect and to maintain a healthy connection after the divorce. LARRY J. ESPOSITO, ESQ.