In this episode of My Money My Lifestyle, host Maya Fisher-French delves into the financial complexities of divorce with financial planner
Kirsten Smit of Citadel Investments. They explore the alarming rise in divorces, particularly in the post-Covid era and among those over the age of 50. Kirsten shares insights on the financial upheaval that divorce brings, from splitting assets to managing two households, and the challenges women face during this transition.
Listeners will gain a comprehensive understanding of the importance of knowing one’s marital regime and the critical need to understand the family’s financial landscape. Kirsten emphasises the necessity of having updated values for assets, understanding liabilities, and the significance of a detailed income statement. The discussion also touches on the often-overlooked expenses and the financial implications of maintaining a family home post-divorce.
Whether you're contemplating divorce, in the midst of it, or simply want to safeguard your financial future, this episode offers invaluable advice on navigating the financial aspects of divorce. Learn how to create a sound parenting plan, the importance of having life cover, and the role of a financial planner in ensuring a fair and sustainable settlement. Tune in for practical strategies and empowering advice to help you bounce back and secure your financial independence post-divorce.