Paths Through Divorce (5/7): Navigating Divorce- Rules, Teams, and Steps

Paths Through Divorce: Navigating Divorce

Kathy Costas, a financial advisor and Certified Divorce Financial Analyst (CDFA) at EP Wealth Advisors, explains first steps for people facing divorce. She advises learning the “rules of the game” in your state, since state law largely determines property division and support: community property states like California generally split marital property 50/50, while equitable division states leave distribution to a judge. She outlines spousal support (alimony/maintenance), noting California’s approach differs by marriage length, and describes child support as mostly formula-driven with some state variations. Costas recommends assembling a team (mediation, collaborative, or litigation) that includes legal and financial professionals, then “hunt and gather” all financial information—assets, debts, credit reports, income, and monthly spending—using tools like annualcreditreport.com and bank apps to build knowledge and reduce overwhelm.

00:00 Facing Divorce Overwhelm

00:35 Know State Divorce Laws

00:59 Property Division Basics

01:38 Spousal Support Rules

02:32 Child Support Overview

03:01 Build Your Divorce Team

03:47 Gather Financial Documents

04:26 Track Debts And Budget

05:14 Next Steps And Encouragement

EP WEALTH ADVISORS:

EP Wealth Advisors, LLC ("EP Wealth") is a leading independent registered investment adviser ("RIA") on a mission to provide clients with honest and objective advice through personalized financial planning, customized investment portfolios, and integrated tax and estate planning. Visit ⁠epwealth.com⁠ (http://epwealth.com/) to find out more.

🎙️ Podcast Production by Spoken Podcasts:⁠ ⁠⁠https://spokenpodcasts.com⁠