Navigating Taxes During Divorce: Expert Tips from Jason Deshayes

In this episode of 'The Exit Strategy: Your No Bullsh$t Guide to Divorce,' hosts Elizabeth Stevenson and Sarah Hink from New Direction Family Law are joined by Jason Deshayes, CEO of Cook Wealth. They discuss the crucial role of financial planning and tax preparation in the context of divorce. Topics include tax liabilities, the importance of transparency in joint tax filings, handling separate and joint accounts, and the significance of consulting with CPAs and financial advisors. The episode aims to educate listeners on making informed financial decisions during and after a divorce, ensuring a smoother transition from victim to victorious and from bitter to better.

00:00 Spotting Financial Red Flags in Relationships

00:21 Introduction to the Exit Strategy Podcast

00:53 Meet the Expert: Jason Dehe from Cook Wealth

01:34 The Role of Spouses in Tax Preparation

02:38 Understanding Joint Tax Returns and Liabilities

03:37 The Importance of Financial Transparency in Marriage

04:08 Navigating Financial Conflicts During Divorce

05:22 The Benefits of Filing Taxes Separately

07:31 Managing Separate and Joint Bank Accounts

10:08 Handling CPA Conflicts During Divorce

13:59 Dividing Assets: Brokerage vs. Retirement Accounts

16:08 Navigating Financial Confusion

17:21 The Role of Financial Advisors

17:58 Tax and Wealth Management

18:30 Cash vs. Retirement Funds

19:26 Alimony and Tax Implications

21:16 Pre-Planning for Divorce

23:52 Financial Planning for Smaller Budgets

29:10 Services Offered by Wealth Management Firms

31:43 Conclusion and Contact Information