Tag: Divorce

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Q&A: Living Trusts, Social Security, and Protecting Your Retirement (Ep. 53)

Q&A: Living Trusts, Social Security, and Protecting Your Retirement (Ep. 53)

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Retirement planning can feel overwhelming, especially when faced with difficult questions about protecting your assets,  Social Security benefits, and market uncertainties. 

In this episode, I answer listener questions about whether to choose a living trust or a will, explain how Social Security benefits work for widows and divorced women, and discuss how to prepare your retirement income for market ups and downs. I also share practical tips on building a financial safety net and touch on the importance of tax planning through retirement stages.

Key points:

  • The considerations involved in deciding between a will and a living trust, emphasizing the importance of privacy
  • How divorce can affect Social Security benefits, and whether it’s possible to receive higher benefits based on a former spouse’s record
  • The Social Security Fairness Act and how it impacts individuals, specifically teachers, receiving both a pension and Social Security
  • Strategies to preserve your retirement income
  • The conditions under which children can receive Social Security retirement benefits, a topic that is not frequently discussed
  • And more!

Resources:

Connect with Eric Blake: 

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Making Divorce Manageable: Financial and Emotional Insights with Neil Palache (Ep. 41)

Making Divorce Manageable: Financial and Emotional Insights with Neil Palache (Ep. 41)

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Going through a divorce is challenging, but the right guidance can transform chaos into clarity.

In this episode, Eric Blake sits down with Neil Palache, founder of The Divorce Transition Professionals and The Wealth Creator Company for Women.

Neil shares his wisdom in helping women navigate pre- and post-divorce financial complexities. From building a professional support network to empowering clients through education, this episode uncovers practical solutions for a smoother transition.

Neil discusses:

  • Supporting women in pre- and post-divorce stages with financial coaching tailored to individual needs
  • Differentiating roles between financial advisors, planners, and coaches to create a comprehensive support system
  • Creating The Divorce Transition Professionals to connect individuals with specialized experts in law, finance, and more
  • The importance of being an advocate for women during divorce to ensure informed and equitable outcomes
  • Providing resources like educational materials, professional networks, and personalized coaching to empower clients during transitions
  • And more!

Resources:

Connect with Eric Blake: 

Connect with Neil Palache: 

About our Guest: 

In 1983 Neil Palache entered the financial services industry as a life and disability insurance consultant. For twelve years he helped hundreds of families and businesses to understand what kind of insurance protection they needed. During this time, Neil saw a need that began to change his focus. Many of his clients were women in need of impartial help to restructure their financial lives so they felt in control and could accomplish more. Neil took his years of experience and designed a practical system that would help women to learn about money issues and to ultimately create their own financial independence. This process is the The Wealth Creator System™ that Neil calls a ‘Get Rich Slowly’ process. Neil is now Founder and CEO of The Wealth Creator Company for Women, Inc. and is dedicated to his new mission.

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