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Tracy Stewart, CPA
  • (979) 324-8179
  • (979) 324-8179
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Tracy Stewart, CPA

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  • (979) 324-8179
  • (979) 324-8179
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Peace of mind through financial clarity.

Paying College Tuition for Children after Divorce

November 21, 2015 by Tracy Leave a Comment

Your child: A source of pride and joy, life and love and, yes, quite a few additional expenses. Multiply all of the above when you bring more of them into the world — and you start to look like one very proud, very happy, very financially taxed parent.

Divorcing couples often come to me and say, “Tracy, we’re going through a divorce — but we want to be certain our child’s college needs are met.” In some conversations, such as the question we get from listner, Stephanie, the wife wants to make sure her children know she’s a contributor to their college funds.

In today’s episode of the Divorce Insider Podcast, I explore a few suggestions to Stephanie’s concerns about transparency of funds for college expenses — and ways you and your spouse can cooperatively address your children’s tomorrows amidst your divorce.

And remember: If you have a question about divorce and money you’d like me to contribute on the Divorce Insider Podcast, head over to my online contact form to ask me anything. I’ll make sure to send a response your way and feature your question on a future episode of the show.

Notes from today’s episode:

  • Consider a 529 Plan: No matter whether or not you and your spouse are going through a divorce, a 529 Plan is an investment account designed to help you save money for your children’s college expenses. Like a Roth IRA, you can contribute funds to your 529 without any annual income taxes. Read more about 529 Plans on SavingForCollege.com
  • Contributing community property to college savings: Before the divorce, you and your spouse can work cooperatively to move funds to a joint savings or investment account that will provide for your children’s college needs. This way, it’s community property and jointly contributed, and you both will have greater transparency about the use of funds with both names attached to the account.
  • Foster communication during and after divorce: Clear communication and well-established expectations will ensure your children are provided for as they head for college. Collaborative divorce is a great way for divorcing couples to establish and/or reinforce healthy communication strategies to cooperatively address the post-divorce needs of their children.

Filed Under: Divorce Insider Podcast

What’s Different about Divorce after 50?

October 6, 2015 by Tracy Leave a Comment

What's Different about Divorce after 50?

I’ve talked before about grey divorce and how divorce after 50 could affect retirement, but there’s more to the complexity of divorcing later in life than just retirement.

In today’s episode of the Divorce Insider Podcast, I share several considerations couples over 50 need to make as they’re untying the knot. Some of these include:

  • Will you have time to rebuild your retirement nest egg?
  • What should you do for health insurance and healthcare?
  • How much will your life-long dreams change as a result?

The cost of living for each of you adds up to more than the cost of living for the two of you when you’re together. Tweet this

In this episode, I share some practical tips and considerations you and your divorce professional should be discussing, including the need to project your post-divorce budget and ways to make sure you have health coverage after your divorce. I also answer a question from a listner who is wondering about what to do with credit cards during a divorce.

[retirement-lead-magnet]

Filed Under: Divorce Insider Podcast Tagged With: grey divorce

3 Most Common Questions about Divorce and Retirement

July 1, 2015 by Tracy Leave a Comment

3 Most Common Questions about Divorce and RetirementThis episode of the Divorce Insider Podcast is all about divorce and retirement. Don’t let the stress of your divorce hinder you from thinking about your tomorrows.

We cover a few practical tips for asking the important questions, getting a clearer picture on your finances and ensuring you get what you need for retirement. [Read more…]

Filed Under: Divorce Insider Podcast

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Thanks for all the help, advice and encouragement. It's a real pleasure learning from an informed, honest and caring person. I sleep so much better at night. Thank you for everything!
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