Achieve the Best Financial Result w/Andrew Hatherley
Divorce is an emotional transition, but it is also a major financial turning point. The decisions made during the divorce process can affect retirement, taxes, housing, cash flow, Social Security benefits, and long-term stability. In this episode of the Amicable Divorce Network Podcast, host Tracy Ann Moore-Grant speaks with Andrew Hatherley, CDFA®, financial advisor, and host of The Gray Divorce Podcast, about how individuals can take a structured approach to achieving the best possible financial result during divorce.
Preparing Financially for Divorce
Financial preparation is one of the most important steps a person can take before and during divorce. Many people enter the process feeling overwhelmed because they do not have a complete picture of their financial situation. They may not know the full value of assets, the details of debts, the tax consequences of certain decisions, or what their post-divorce budget will realistically look like.
Andrew emphasizes the need to prepare early and thoughtfully. This includes gathering financial documents, reviewing accounts, understanding income and expenses, and identifying questions that need professional guidance. The more organized the financial picture is, the easier it becomes to make informed decisions.
Organizing Documents and Understanding Assets
Divorce often requires a clear review of bank accounts, retirement plans, investment accounts, real estate, insurance policies, tax returns, debts, and other financial records. Organizing these documents can reduce confusion and help both the client and their professional team understand what needs to be addressed.
Understanding assets is especially important because not all assets are equal. Two accounts may have similar values but very different tax consequences, liquidity, growth potential, or future restrictions. A financial advisor or Certified Divorce Financial Analyst® can help explain how different assets may affect a person’s future after divorce.
Tax Implications and Timing Considerations
Taxes can significantly affect the outcome of a divorce settlement. Property division, retirement account transfers, support payments, capital gains, and filing status may all create tax consequences. Without proper planning, someone may agree to a settlement that appears fair but creates unexpected financial challenges later.
Timing can also matter. Certain decisions may have different implications depending on when the divorce is finalized, when assets are divided, or when benefits become available. Andrew’s guidance highlights the importance of looking beyond the immediate settlement and considering how timing may affect the long-term financial result.
Social Security Benefits and Divorce Over 50
For people divorcing later in life, Social Security and retirement planning can become especially important. Andrew’s work through The Gray Divorce Podcast focuses on financial and emotional planning for people divorcing over 50, where retirement timelines, income needs, healthcare, and future security may be major concerns.
Understanding possible Social Security benefits, retirement income, and long-term budgeting can help individuals make better decisions before final agreements are signed. These issues are too important to leave to guesswork.
Budgeting for Post-Divorce Life
A strong divorce settlement should support life after divorce, not just resolve the immediate legal issues. Budgeting helps individuals understand what they will need to live independently, manage expenses, and plan for the future. This may include housing, utilities, insurance, transportation, food, children’s expenses, savings, debt payments, and retirement contributions.
A realistic budget can also help people evaluate settlement options more clearly. What seems desirable emotionally may not always be sustainable financially. Creating a post-divorce budget allows people to make choices based on real numbers instead of fear or assumptions.
The Role of a Financial Guide During Divorce
Andrew discusses the value of having someone act almost like a chief financial officer during and after divorce. This means having a professional who can help organize information, evaluate options, explain consequences, and support long-term planning. Divorce involves many moving pieces, and financial guidance can help reduce uncertainty.
The goal is not only to divide assets. It is to help individuals move forward with confidence, clarity, and a plan for financial stability. With the right structure and support, divorce can become less chaotic and more manageable.
Andrew Hatherley is a CDFA®, financial advisor, founder of Transcend Retirement and Wiser Divorce Solutions, and host of The Gray Divorce Podcast. To connect with Andrew, email andrew@wiserdivorcesolutions.com, visit transcendretirement.net, or listen to The Gray Divorce Podcast.
Divorce Amicably: Your Roadmap to Resolution is available on Amazon in paperback, hardback, and Kindle.
Recent Posts
From the Book: Divorce Amicably
Chapter 6. Fault: Do You Bring It Up?
When approaching divorce, usually one spouse believes – and may even have significant evidence – that the other spouse is “at fault” for the end of the marriage. The aggrieved spouse often wants the other to “pay” for their behavior – either financially or through the custodial schedule. That means they will want to pursue fault grounds.
When deciding the direction of your divorce, it is important for you to understand the difference between fault and no-fault divorce.