Financial Mistakes NOT to Make in Your Divorce
In this insightful episode of the Amicable Divorce Network Podcast, Hirsch Serman MBA, CPA, CDFA – founder of Lifecycle Financial, a Certified Divorce Financial Analyst and experienced CPA – shares his expertise in navigating the financial complexities of divorce. With over 25 years of experience in the tax world, Hirsch provides invaluable guidance on tax implications, asset division, and financial strategy, all tailored to help individuals achieve financial clarity during one of life’s most challenging transitions. Alongside Tracy Ann Moore-Grant, the Amicable Divorce Podcast host and founder of the Amicable Divorce Network, Hirsch emphasizes the importance of keeping emotions out of the divorce process and collaborating with other divorce professionals to develop the best financial approach for clients.
Hirsch’s approach is deeply rooted in understanding each client’s unique values and priorities. As someone who has personally experienced divorce after 20 years of marriage, he understands the emotional and financial toll it can take. His work centers on helping clients define their financial goals and create strategies that align with their values, whether it’s deciding how to split assets, manage debts, or ensure their children’s needs are met.
“As a financial strategy coach, I guide clients to define their personal values and goals, ensuring their financial decisions in a divorce align with what truly matters to them. My approach helps clients make informed, value-driven choices, leading to a more fulfilling life post-divorce.”
-Hirsch Serman, Certified Divorce Financial Analyst
A key aspect of Hirsch’s service is his ability to work collaboratively with other divorce professionals, particularly attorneys, to craft a holistic approach to financial planning. He emphasizes the importance of using the right professional for the right task, much like choosing the correct medical specialist for a specific health issue. By doing so, clients can achieve more effective results while minimizing costs and avoiding unnecessary stress.
Tracy and Hirsch emphasized the importance of using the right professionals for each aspect of a divorce. Tracy noted that clients often worry about costs, but it’s crucial to understand that dividing the work among specialists doesn’t necessarily increase expenses. In fact, it’s the same cost as relying solely on an attorney who may not have the expertise to provide specific financial advice. Hirsch reinforced this by comparing it to medical care—you wouldn’t go to a heart specialist for a foot problem. By choosing the right professional for the right job, clients can avoid unnecessary costs and achieve better results.
“First, we assess your current lifestyle costs and compare them to the bare necessities—rent, groceries, bills. Once we have that baseline, we can start adding in the extras, like a premium gym membership or vacations, and see where we land. The goal is to create a financial strategy that balances between these levels. But it can be tough for clients to face the reality of the changes needed, especially when big adjustments are required.”
-Hirsch Serman, Certified Divorce Financial Analyst
Hirsch emphasized that letting emotions drive decisions during a divorce can be costly. Tracy pointed out that judges are busy and have heard it all—nothing couples say is likely to shock them. Expecting the court to provide a deep understanding of your personal situation is unrealistic; they want clear facts. Judges don’t have the time or capacity to hear every detail. Managing expectations and focusing on practical solutions can save both time and money, avoiding the pitfalls of emotionally driven decisions. Clients need to focus on practical reasons for their requests, such as wanting to keep the house so the kids can graduate from the same school district, rather than using the process to retaliate against their spouse. By staying focused on what truly matters, clients can achieve better outcomes without letting emotions lead them astray.
“Judges can have good days and bad days, and their biases can vary. You might have five judges who handle family law, but each could deliver a different verdict. It’s risky to leave your outcome to chance. Instead, focus on your priorities—like keeping your home for your kids’ school district—and work towards creative solutions that benefit them. Getting fixated on a specific result can be costly; it’s better to explore flexible, strategic options.”
-Hirsch Serman, Certified Divorce Financial Analyst
Hirsch also offers a unique perspective as a financial coach and mediator, helping clients not just during the divorce process, but in building financial independence afterward. His goal is to equip clients with the knowledge and confidence they need to manage their finances effectively post-divorce, avoiding the common pitfalls of emotional spending and unrealistic expectations.
The Amicable Divorce Network’s collaborative approach resonates with Hirsch’s philosophy. He praises the network’s rigorous vetting process, which ensures that clients are supported by professionals who are genuinely committed to achieving the best possible outcomes. This alignment within the team fosters a supportive environment where the focus remains on doing what’s right for the clients, rather than the adversarial tactics often seen in traditional family law.
To listen to the full episode and learn more about navigating divorce with a strategic and financially informed approach, click here.
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