Author Archives: Vickie Adams

avatar

About Vickie Adams

Vickie Adams is a certified financial planner and owner of Vickie Adams, CFP in Manhattan Beach, California.

EMAIL: vickie@planvickie.com

BIO: About Vickie

PHONE: 310-514-0240

Looking Up From the Screen
avatar


Authored by , re: MENTAL HEALTH, Wellness, on .
Looking Up From the Screen | Vickie Adams

Look up from your phone…. I’m right over here! Don’t worry. This is not another article about cell phone dependence. It’s about this author and my observations and decision-making process. This New Year’s eve I found myself in a beautiful restaurant surrounded by beautiful people. I looked over to the bar packed with men in tuxedos and women in fabulous dresses waiting to be seated. For one crazy minute, almost frozen in time, I noticed that every one of them was looking down at their phone and not one single person was facing another human’s face.

Click here to read Vickie Adams' full article...

The Myth of Being Fair
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
The Myth of Being Fair | Vickie Adams

Sometimes “even” isn’t really fair. I have a lovely client who came to me when her husband left the family home. After much delay, he finally served her with his self-prepared divorce documents. In learning about his personality and history, I believe he factored into his projection his wife’s innate sense of fairness and wanted to use that to his advantage. He has dragged his feet, refused to get a lawyer and represents himself. In reality, he has taken control of the entire process by refusing to play by the rules.

Click here to read Vickie Adams' full article...

How Can You Sleep Well at Night?
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
How Can You Sleep Well at Night? | Vickie Adams

Last Saturday, I took a workshop on sleep and well-being. I’ve always been nocturnal and have long considered those hours between 11 p.m. and 2:30 a.m. as bonus hours of “me time” to read for pleasure or watch TV that could not be fit in during the day because of work. I’ve also worked New York time zone hours for 20 years, waking up at 6:30 a.m, which left little time for sleep. Later, I found that no matter what time I went to sleep, I still woke up too early, or even worse, woke in the middle of the night, unable to go back to sleep.

Click here to read Vickie Adams' full article...

But I Have a Financial Planner… Why Do I Need a Divorce Financial Planner?
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
But I Have a Financial Planner… Why Do I Need a Divorce Financial Planner? | Vickie Adams

Do you know the difference between someone who says they’re a “financial planner” vs. a “CERTIFIED FINANCIAL PLANNER™“ professional vs. “Divorce Financial Planner”? I am a CERTIFIED FINANCIAL PLANNER™ professional, (CFP®) who is also a Certified Divorce Financial Analyst (CDFA®). (Note: To adhere to compliance obligations, I must spell out CFP in all caps, etc.)

Click here to read Vickie Adams' full article...

 

This Season on RHONJ…
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
This Season on RHONJ… | Vickie Adams

It’s a simple concept but somehow it comes up over and over; the ramifications can’t be emphasized enough: Very few women (and men) fully understand the legal and financial implications that their partners’ actions have when married. Whether it’s purposeful denial of reality or that someone lacked the capacity to understand the math involved, you are still responsible. It often feels like someone has to be truly burned in order to learn lessons of “conscious coupling.”

Click here to read Vickie Adams' full article...

Divorcing? How to Protect Your Child’s College Funds
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Divorcing? How to Protect Your Child’s College Funds | Vickie Adams

Recently, I was quoted in a Reuters article which showcased various ways that families save funds for their children to attend college. Sometimes in my work as a Certified Financial Planner®, I use the example of divorce as a way to communicate one of the best reasons to hold funds in a 529 college savings plan. Oftentimes, when a divorce occurs, any nebulous chunk of cash that’s been commingled with other savings is one of the first to be diverted from its initial purpose—for example, college.

Click here to read Vickie Adams' full article...

Take Control of Your Case. Take Control of Your Future.
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
Take Control of Your Case. Take Control of Your Future. | Vickie Adams

Female clients who are the higher earning spouse are trending in my practice. These women are successful professionals who fear they have more to lose in a divorce than their spouses. They’re not only responsible for most of the financial obligations, they often retain the majority of household responsibilities including child rearing. They naturally trust their spouses to be responsible in their dealings with household finances.

Click here to read Vickie Adams' full article...

Call Me Skeptical, But…
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .

{3:30 minutes to read} In over 25 years as a Certified Financial Planner(™) professional, nobody’s ever called me and said, “I won the lottery.” A few have announced they’ve received “unexpected sudden wealth” and want to plan for the rest of their lives. More often, people call me to say “I’m afraid that ”…. and you can fill in the blank from there. “My company has downsized,” or “Health issues are forcing me to retire prematurely and I’m financially unprepared.” But the most frequent call in So Cal is: “I’m getting divorced and don’t think I’m going to get what is mine.”

Click here to read Vickie Adams' full article...

How and Why to Modify Your Divorce Agreement
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
How and Why to Modify Your Divorce Agreement | Vickie Adams

Sometimes after a divorce has been settled, circumstances change. Are you aware that there is recourse? You can make financial modifications to the original agreement. Is it better to come to me individually to make the changes, or mediate together? In a post-divorce matter, there are two ways I help:

  1. I can represent you as an individual and help you clarify your position.
  2. I can work with both parties in the matter as a financial neutral.

Click here to read Vickie Adams' full article...

6 Ways Lawyers & Mediators Ask Me To Assist In Divorce Cases
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
6 Ways Lawyers & Mediators Ask Me To Assist In Divorce Cases | Vickie Adams

Last month, an attorney/mediator found me by doing a search that led him to members of the Association of Divorce Financial Planners. In our first meeting, he admitted to me that he “wasn’t great with highly complex financial issues.” What he meant was: he didn’t consider himself efficient or proficient in analyzing complex settlements or their resulting tax liabilities in a spontaneous setting. He wanted me to act as a co-mediator in an upcoming session and left me with a huge stack of his clients’ financials. In a couple of hours, I put the case in context and met him at the mediation.

Click here to read Vickie Adams' full article...

4 Rookie Mistakes “Chumps” Cheated on Make…
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
4 Rookie Mistakes “Chumps” Cheated on Make… | Vickie Adams

Last week, I flew to Washington DC for the weekend in order to attend a book launch and after-party for author Tracy Schorn at the National Press Club. Not only does Tracy write the daily blog chumplady.com, with over 10 million views, but her new book Leave a Cheater, Gain a Life is a #1 new best seller. Tracy has helped thousands of blog readers understand the actions and language behind serial infidelity and the mental shift needed to extricate themselves.

Click here to read Vickie Adams' full article...

Know How to Protect Yourself Financially Within a Relationship?
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Know How to Protect Yourself Financially Within a Relationship? | Vickie Adams

When you enter into a new relationship, you display the best version of yourself—the rose-colored glasses are shiny and new. As the relationship progresses, perhaps you decide to move in together. It is at this point that a serious discussion needs to happen—one that people are afraid to have. What happens if and when those rose-colored glasses become fogged up, scratched, or broken, especially in regard to financial matters?

Click here to read Vickie Adams' full article...

Should You Execute a Postnup or File for Divorce?
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Should You Execute a Postnup or File for Divorce? | Vickie Adams

If you’re the higher wage earner married to a husband who is chronically “underemployed,” this can cause a lot of resentment. Over time, resentment stemming from an imbalance of money or imbalance of responsibility spills over into other areas and, subsequently, degrades a marriage. Recently, a reader of this blog requested I write on this topic, as many women now find themselves in this very same situation.

Click here to read Vickie's full article...

That Son of a B*#!h Took My Dependent! What Do I Do?
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
That Son of a B*#!h Took My Dependent! What Do I Do? | Vickie Adams

I clicked the e-File button to submit a last-minute client’s tax return. Within minutes, the IRS pinged me in their cryptic code: “Another taxpayer has claimed this dependent in a tax return already filed.” When that happens, there can only be two scenarios: either somebody has stolen their child’s identity or their ex-spouse has beat them to the punch to claim the child. One or the other. Which is worse? Click here to read Vickie Adams' full article...

3 Details NOT to Be Put Off to Your “Post-Divorce” Checklist
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
3 Details NOT to Be Put Off to Your “Post-Divorce” Checklist | Vickie Adams

Most people don’t realize there is anything left to do after the divorce agreement is finalized. Once they’ve hammered out the details of the divorce settlement, signed on the dotted line, and accepted their fate, many clients assume that their attorney is going to take care of all the transitional issues for every item. However, this is often not the case.

Click here to read Vickie Adams' full article...

Put Your Money to Work Toward Your Future
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
Put Your Money to Work Toward Your Future | Vickie Adams

Perhaps you are newly divorced or are going to be filing your tax return without your spouse for the first time this year. Failure to plan ahead can result in an unexpected tax liability. However, with proper planning, you may find yourself in the fortunate position of receiving a refund. Here are some suggestions about utilizing your “windfall.”

Click here to read Vickie Adams' full article... 

Should I Try to Keep the House? (Divorce & Mortgage Issues)
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Should I Try to Keep the House? (Divorce & Mortgage Issues) | Vickie Adams

One of the most complex questions in litigation or mediation is, “Should I try to keep the house?” This calculation requires accurate financial analysis prior to negotiation to evaluate whether (or not) it’s a worthwhile want. Because the marital home is such an emotional trigger, it often leads clients to override logic with wishful thinking—“Yes, I think I can pull it off.”

Click here to read Vickie Adams' full article...

Since Lifetime Spousal Support Is Dying Away…
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
Since Lifetime Spousal Support Is Dying Away… | Vickie Adams

Once upon a time, in a land far, far away, “marriage, motherhood and homemaking” was considered a practical answer to the dilemma of long-term financial security. Lots of things have changed for better or worse. In the plus column: higher education, greater job opportunities and more “you can have it all, baby.” On the minus side: higher divorce rates, less “happily ever after,” and more “you can do it all, baby.”

Click here to read Vickie Adams' full article...

Good News / Bad News – Tax Facts About Spousal Support
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .

Each tax season in my work as a CFP, I have the unpleasant task of informing a recent divorcee that they have an unexpected and substantial tax liability. It’s a curious phenomenon that during tax preparation, the spousal support payor rarely forgets the deduction and chimes in with, “Don’t forget to include my alimony – it’s a write-off, isn’t it?” But the recipient is often “surprised” when reminded that the spousal support they received in the past year is a fully taxable event. So, what are the conditions under which alimony is taxable to the recipient and deductible to the payor?

Click here to read Vickie Adams' full article...

The Hidden Benefits of “Tax Season”
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
The Hidden Benefits of “Tax Season” | Vickie Adams

In most marriages, it is not unusual for one spouse to have a more “hands-on” role or a better understanding of the marital finances. For a variety of reasons (fear, control, stereotypical gender roles), the spouse who is less focused on “how the money works” may not possess the information necessary to understand or accurately convey a complete picture of his/her own financial reality. Click here to read Vickie Adams' full article...

Financial Dangers of Living Separately (But Not Divorced)
avatar


Authored by , re: Family & Divorce, LAW RELATED ARTICLES, on .
Financial Dangers of Living Separately (But Not Divorced) | Vickie Adams

It’s just a short hop from the holidays to what is known as “divorce season.” For the past 2 months, many people have been in holiday “limbo,” not making waves during this time of “goodwill.” I’ve counseled many women, often the lesser earners, who have remained in a separated-but-not-divorced “limbo” state for longer than a holiday season. For some, it becomes a permanent state.

Click here to read Vickie Adams' full article.

Happy Holidays? Maybe and Maybe Not
avatar


Authored by , re: Family & Divorce, on .
Happy Holidays? Maybe and Maybe Not | Vickie Adams

I have a close friend whom I’ve known for many years. She is always busy, dressed to the nines. I’m most likely to see her pulling out of her driveway, on her way to another weekend getaway or special event with her handsome husband and a smile on her face. One year, I watched them on successive days of the week go out and keep adding to their front yard Christmas display, until I thought it could be seen from outer space. I thought, “Wow, she’s so lucky to have such a great partner who takes such an interest and is willingly out there participating in these things with her.”

Click here to read Vickie Adams' full article...

Thinking of Hiding Assets? Don’t!
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Thinking of Hiding Assets? Don’t! | Vickie Adams

In 1996, wife Denise Rossi purposefully hid lottery winnings in the amount of $1.3 million from her husband of 25 years. When her ex-husband realized what she had done, he filed a motion to set aside the divorce agreement. Denise was found guilty of fraud and her ex was awarded all $1.3 million of the lottery winnings.

Click here to read Vickie Adams' full article.

4 Ways to Minimize the Cost of Divorce
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
4 Ways to Minimize the Cost of Divorce | Vickie Adams

Whether mediating or litigating your divorce, costs can escalate quickly, especially if you are facing a complicated settlement. There are some simple ways, however, to help keep the cost of your divorce down. Here are 4 of them:

  1. Limit Email Communications

Communicating with any divorce professional by email can substantially increase the costs of your divorce.

Click here to read Vickie Adams' full article.

The Importance of Estate Planning During Divorce
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
The Importance of Estate Planning During Divorce | Vickie Adams

At least once a year, I invite clients in to conduct portfolio and beneficiary reviews on all important documents. It’s a rare year where I don’t find at least one policy or investment where an ex-spouse is still named as the beneficiary of the policy proceeds. Since IRAs, retirement plans, life insurance, and annuities are assets that pass by contract, whoever’s name is written on that form is legally entitled to receive the proceeds from that plan or policy that was purchased during the now defunct marriage.

Click here to read Vickie Adams' full article.

Divorce Planning Strategies: Early Access to Retirement Funds Without Penalties
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, Financial Planning & Insurance, on .
Divorce Planning Strategies: Early Access to Retirement Funds Without Penalties | Vickie Adams

It’s not unusual that a couple’s assets with the most equity are the marital residence and various retirement plans. So, what do you want your life to look like post divorce? Do you want to keep your marital home? Do you want the security of a funded retirement plan? It’s critical to understand your financial priorities post divorce as it takes strategic planning to achieve your goals. Engaging a CDFA™ (Certified Divorce Financial Advisor) or Divorce Financial Planner early in the process can be critical to a successful post-divorce outcome.

Click here to read Vickie Adams full article...

 

How Much Do You Know About Your Marital Finances?
avatar


Authored by , re: Miscellaneous, on .
How Much Do You Know About Your Marital Finances? | Vickie Adams

What if your spouse came home and announced he/she wanted a divorce? What would you do? Where would you start? The good news is, statistics show that the number of marriages that last to at least 15 years has been growing since the 1980s. That means the rate of divorce has actually been dropping. Despite the statistics, couples are still getting divorced. At least once a week, I meet a new client who’s been surprised with the news that their spouse wants out. They need my help because they do not understand all the details of the marriage’s financial issues. Click here to read Vickie Adams' full article... 

5 Simple Rules to Avoid Disaster When You Lose Your Cell Phone
avatar


Authored by , re: Family & Divorce, FINANCIAL ARTICLES, on .
5 Simple Rules to Avoid Disaster When You Lose Your Cell Phone | Vickie Adams

It’s customary at our local Pilates studio to race in and place our keys, phones and shoes into tiny open cubbies. It’s a safe haven where we can separate ourselves from distractions, like the phone, for an hour. This time, when I finished my class and prepared to re-enter the world, I discovered my phone was gone. We called my number a couple of times hoping we might hear it. Then, I experienced sheer panic as I realized “OMG my phone is really gone. Could it have been stolen?”

Click here to read Vickie Adams' full article...

How Will the “Bright Line” Ruling on California’s Date of Separation Affect You?
avatar


Authored by , re: Family & Divorce, LAW RELATED ARTICLES, on .
How Will the “Bright Line” Ruling on California’s Date of Separation Affect You? | Vickie Adams

One of the most commonly litigated issues in divorce proceedings is California’s “date of separation.” This occurs because the date of Separation is so impactful to the most critical financial aspects of divorce, such as asset division and support issues. In the past, to establish the date of separation, couples could lead separate lives under the same roof, as long as there was a clearly stated intent to divorce, accompanied by actions that represented that concept.

Click here to read Vickie Adams' full article...

Life Is Short. Have an Affair.
avatar


Authored by , re: Family & Divorce, on .
Life Is Short. Have an Affair. | Vickie Adams

Last week’s New York Times Technology headline, “The Ashley Madison Data Dump, Explained,” further delighted all who believe in the karma bus. The initial reports about the hack did not cover the moral aspect of cheating as much as the perils of being caught. Websites abound making the results easily available including names, as well as highly personal data.

Click here to read Vickie Adams' full article...