Budgeting Through Divorce: Where to Start and Why It Matters
Divorce brings enough uncertainty—your finances shouldn’t be one of them. A clear, personalized budget can help you regain control, reduce stress, and make confident decisions as you navigate this transition. With the right tools and mindset, you can start building a future that feels stable—and truly yours.
How Is a Business Owner’s Income Determined in a Divorce?
When one or both spouses own a business, determining income for purposes of child support and spousal maintenance can be far more complex than simply looking at a W-2. Unlike salaried employees, business owners often have multiple income streams and unique financial flexibility, which can make identifying their true earning capacity more nuanced. Here’s how […]
Why a Strong Divorce Strategy from Day One Matters—Especially in High-Net-Worth Cases
When you’re just beginning the divorce process, it’s natural to want to keep things peaceful—especially if you’re divorcing a narcissist or someone who has historically held control over financial or emotional aspects of your marriage. Many women hope that starting gently will lead to a smoother, more collaborative experience. But here’s the reality we see […]
How Does Money Actually Get Transferred After a Divorce? A Guide for Women Navigating the Process
At Purposeful Wealth Advisors, we’re often asked some version of this question: “Okay, I know I’m going to receive assets as part of the divorce settlement, but how does the money actually get to me?” It’s a great question—and one that can feel overwhelming if you haven’t been the one handling the finances in the […]
The Financial Affidavit: Your First Step in Telling the Financial Story of Your Divorce
When going through a divorce, there are a few key documents that will set the tone for the entire process. One of the most important is your financial affidavit. It’s often the first official snapshot of your financial life, and it can make a significant difference in how your divorce unfolds. In Illinois (where I […]
Heads-Up for High Earners: Big Changes Coming to 401(k) Catch-Up Contributions
If you’re over 50 and earning a high income, there’s an important change on the horizon that could affect how you save for retirement. As part of the SECURE 2.0 Act of 2022, the IRS will soon require certain older, higher-earning employees to make 401(k) catch-up contributions on a Roth basis rather than pre-tax. Starting […]
How to Stay Grounded During Divorce: Finding Peace in the Eye of the Storm
With all the political tension, economic uncertainty, and global unrest in the news lately, I’ve found myself reflecting on a line from Brandi Carlile’s song The Eye: “You can dance in a hurricane, but only if you’re standing in the eye.” That lyric speaks deeply to how I’ve been approaching life lately—intentionally choosing to not […]
Understanding Marital Balance Sheet: A Key Tool for Divorce Settlements
In a divorce, dividing marital assets and debts is one of the most important—and often contentious—parts of the process. A marital balance sheet is a critical tool that helps both parties and their attorneys understand the financial picture, ensuring transparency and equitable division. Whether you’re just beginning the divorce process or nearing the end, understanding […]
What Are Qualified Domestic Relations Orders (QDROs) and Why Are They Important?
When dividing marital assets during a divorce, retirement accounts often represent a significant portion of the financial settlement. However, transferring these assets isn’t as simple as dividing cash. That’s where a Qualified Domestic Relations Order (QDRO) comes in. Understanding how QDROs work and why they’re essential can help you protect your financial interests and avoid […]
Maximizing Marital Assets: Key Appraisal Insights
Dividing marital assets in a divorce can be one of the most contentious and complex aspects of the process. Ensuring that assets are accurately appraised and fairly valued is essential to achieving a settlement that reflects your financial interests. Whether it’s your family home, business interests, or valuable personal property, understanding the appraisal and valuation […]
