San Francisco, California
London, United Kingdom
College Planning and Divorce
One of the more overlooked areas of financial planning in general (and divorce planning in particular), is the subject of college planning. Since "college" is often excluded from consideration in many state divorce statutes, the topic is often overlooked by clients and their attorneys, but can have significant financial impact, not only on the family's future financial goals, but also on the college student's own life.
A divorce financial professional can add significant value to their services by educating their divorcing clients on how divorce affects college aid and planning. Many divorce financial professionals (as well as financial advisors in general) do not have a solid working knowledge of how financial aid is calculated or how college costs are met during the college years. This workshop will discuss the college financial aid and aid application process as well as how to incorporate college costs and considerations into your divorce planning for those clients with college-bound children. Strategies to consider and pitfalls to avoid will be included in the discussion.
Brief Bullet Points of Presentation:
Overview of College Cost Issues
Understanding Financial Aid Options for the Three Categories of Families
Financial Aid, EFC and the Eligibility Formulas (Federal versus Institutional Methods)
The Aid Application Process: Who Should Fill Out the Forms and Why
Application of Planning for All Income Levels
How Divorce Affects Aid Eligibility and College Planning
Divorce and Impact on Base Year Financial Aid Considerations
Strategies Beyond Financial Aid: Dealing with High Income Families
Effective Strategies to Maximize Aid and Case Study
Featuring: Steve Stanganelli, CFP®, CRPC®, NAPFA-Registered Financial Advisor is principal of CollegeCashPro.com, a unit of fee-only financial planning firm Clear View Wealth Advisors, LLC with offices in Amesbury, Newburyport, Wilmington and Burlington. Steve is a member of the Association of Divorce Financial Planners and the Massachusetts Collaborative Law Council. He has also compleged training as a Financial Neutral.