The truths are: divorce rates hover around 50%, and marriage rates are declining. In other words, less people are entering into a binding relationship and, for those who already have, approximately half want to end it. The individual reasons may vary but there’s one common theme that seems to create stress and challenges for couples year after year: Finances.
Enter Pam Friedman – Certified Financial Planner™ (CFP®), Certified Divorce Financial Analyst (CDFA™) and author of the upcoming book, I Now Pronounce You Financially Fit: How to Protect Your Money in Marriage and Divorce [Greenleaf Book Group, December 2015]. Separated into two clear parts — marriage and divorce — I Now Pronounce You Financially Fit uses straightforward, non-technical language, along with a little humor, all organized to help couples and individuals prepare money for marriage, and protect money in marriage or divorce.
In the ‘marriage’ section, readers will see how emotions impact financial decision-making, learn strategies to budget, save, and to protect your money as a couple. Following in ‘divorce’ section, readers will learn the choices that can preserve their money as they move forward in their divorce. Friedman emphasizes that, instead of meeting with a divorce attorney, those contemplating this step should first seek guidance from a financial advisor.
“Education is a form of insurance for your marriage,” says Friedman, who is widely known as a ‘financial fitness expert.’ “I also believe there’s a lingering taboo regarding divorce that causes people to avoid this particular kind of planning. I look at financial planning through the lens of relationships, in marriage and out.”
Loaded with relatable client examples, clear guidelines, and practical strategies and action items to become financially empowered and responsible, readers will further learn:
- Power and importance of pre-nuptials and marriage agreements
- How to appropriately weigh emotions when making financial decision
- 5 non-threatening questions to start a conversation about money
- The 21 essential financial documents both parties should have and know
- Financial planning for business owners getting married and going through divorce
- Negotiating the “stay-at-home” budget: how the non-working parent expects to leave the relationship with enough money to survive in case of divorce
- Great questions to ask a divorce attorney: experience, cost and timelines
- Alimony and child support: who will pay what and to whom, and implications on taxes
- Retirement accounts and their impact on divorce
- And much more…
Ms. Friedman has over 20 years of financial planning and investment experience. Prior to partnering with Silicon Hills Wealth Management, LLC, Ms. Friedman was on Wall Street in both New York and London structuring and raising capital for both public and private companies. Upon her return to Texas, Ms. Friedman spent six years on the faculty of the Finance Department in the McCombs School of Business at The University of Texas at Austin.
Ms. Friedman’s area of expertise is marital financial planning which includes planning for the risk of divorce and educating clients who may be unfamiliar with financial issues and investing during and after divorce.
Ms. Friedman has been a regular speaker at meetings of the Austin chapter of the Financial Planning Association (FPA), the Capital Area Paralegal Association, and the Austin chapter of Certified Public Accountants (CPA). She is a member of The Collaborative Law Institute of Texas, Austin chapter of Texas Women in Business and The University of Texas’ BBA and Business Honors Program Alumni Boards. Ms. Friedman earned the designation CERTIFIED FINANCIAL PLANNER™ (CFP®) in 2006 and Certified Divorce Financial Analyst (CDFA™) in 2011. Pam is also a trained family law mediator. Pam holds an MBA, BBA and BA in Finance and Economics from The University of Texas at Austin.
Visit Pam Friedman for more information.