Stacy Francis Featured on Divorce Dialogues Podcast about Women’s Financial Security Through Divorce
By: Francis Financial
January 6, 2021
Francis Financial President and CEO Stacy Francis appeared as a podcast guest on Divorce Dialogues, a forum where experts share their knowledge about “money, children, relationships, moving, dating, and more”. In this episode, Stacy discusses financial security and divorce with host Katherine Miller, founder of family law practice Miller Law Group and a Director at the Center for Understanding Conflict.
Stacy discusses how the intimidation of understanding finances can keep some women in an unhappy marriage. She acknowledges that it can be scary to take the first step, but anyone can learn to manage their money if they are armed with comprehensive knowledge and surround themselves with a non-judgemental team.
Stacy asserts that “the longer you spend not looking at it the more frightening and difficult it is”. First, she suggests gathering all of the documents related to your finances, including your most recent checking, savings, and brokerage account statements, along with documentation on large financial assets like your house, cars, boats, as well as your tax return. Next, you need to collect documents on any debt, like your mortgage, car loans, credit cards, etc. “Once you see it, you may be motivated to make better money decisions”.
Money often has fear and anxiety attached to it, so she encourages women to get past their own judgments about their spending. When Stacy is working with a client, she lets them know they are in a safe space and shares her own personal financial experience as a way to build rapport and trust. “You judge yourself more harshly than anyone else does” Stacy empathizes.
She also explains that a Certified Divorce Financial Analyst has a specialized focus on the aspects of the divorce planning process – particularly the tax impact of separation and what needs to be included in a divorce settlement for a person to feel secure in the next years few years as well as long term. “It will help you answer the hard questions that might be keeping you up at night”.
Finally, Stacy shares her tips on what questions to ask when interviewing Certified Divorce Financial Analysts and attorneys and highlights how the importance of having a powerful team can help you come out of the other side of divorce as healthy as possible.
Francis Financial can help you financially transition through a divorce or other difficult life changes. Contact a qualified wealth management advisor to help you plan, grow, and protect your assets.