Rebuilding your life after divorce isn’t just emotional—it’s financial. In this video, Russell Rivera shares how a client took careful steps to protect her assets when entering a new relationship. With children and a settlement at stake, the right financial planning made all the difference.
Topics Discussed:
Financial planning after divorce
Protecting assets in new relationships
Trusts and legal safeguards
Planning for children’s financial security
Transcript:
Hey everyone, this is Russell Rivera, founder and president of Voice Wealth Management, and this is Sidewalk Talk. So we're here in Central Park, it's the beginning of summer, and so I just wanted to talk to you a little bit about a unique situation that I encountered with a client of mine.
So she had gotten divorced, ended up with a very nice settlement and went out to rebuild her life, and I certainly was helping her with that. But over time, of course, she's ready to move on, find another relationship and see who else she can connect with. Well, what happened is she started dating someone with a history who she told me had declared bankruptcy twice, and of course, me in my job as a financial planner was concerned for her. I mean, she'd just gotten a nice settlement, had just gone through rebuilding her financial life. And now here she was taking a leap, potentially even moving in with someone who had a history of not handling money well, and I wanted to make sure she was protected from whatever this new relationship might bring in case it didn't go through.
So what are the things we have to do? Well, we have to create a strategy. It's not just about how much money you have, but also what you want to do with it. She had kids, wanted to make sure her kids are protected from whatever money she has, that he might in their next relationship. So does that mean talking to an attorney about setting up a trust? Does that mean putting things in her name and saying no if he asks her for money? These are all things that she had to consider and we worked together on until she came to the decision that worked out right for her.
Once you were able to do that, you can have clarity, some peace of mind, and make sure that you can move ahead with whatever life brings you that's not monetary, feeling confident that everything else is in good control and protected for you and for your kids and moving forward. So whether you're starting over after divorce or navigating just a new relationship and considering how to move forward financially with that, we at Voice Wealth Management can help you deal with that, right? We're always about understanding how your money is, making sure your money works the best possibly for you. So give us a call, send us an email, and we'll be happy to talk to you. Thank you, and we'll see you next time.
Russell D. Rivera, CFA, CFP®, is the Founder and President of Voice Wealth Management, an independent financial services firm serving professionals, entrepreneurs, and families in New York City and beyond. Focusing on helping clients make informed decisions about saving, investing, and financial planning, Russell is committed to providing a customized approach that reflects each client’s unique priorities and experiences.