Silver Divorce: How to simplify a painful process

March 1 2024

March 2024: Neuwirth Associates’ Barry Sacks and Peter Neuwirth assess the current state of Silver Divorce

Silver Divorce: How to simplify a painful process
March 2024: Neuwirth Associates' Barry Sacks and Peter Neuwirth assess the current state of Silver Divorce
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March 2024: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month’s episode of my podcast and video show, Silver Divorce, where for 30 minutes, we unpack ways you can simplify the painful process of getting divorced in your senior years.

Meet our guest: Barry Sacks, PhD, JD, Reverse Mortgage/Retirement Portfolio Longevity Expert and co-founder of Neuwirth Associates Consulting

This month’s topic: The current state of affairs in Silver Divorce

Click here to watch our video interview on SilverDivorce.tv.

About our guest: Barry H. Sacks Ph.D. earned his Ph.D. in semiconductor physics from M.I.T., and then taught at U.C. Berkeley. He earned a J.D. from Harvard Law School and is a Certified Specialist in Taxation Law from the California Board of Legal Specialization. After spending 35 years as an ERISA attorney specializing in qualified retirement plans, he used his breadth of skills to discover a role for a reverse mortgage to help make a retirement portfolio last longer. Barry now has a law practice providing exceptional services to tax professionals in “Offers in Compromise” for retirees living on 401(k) accounts or securities portfolios. With his brother, Professor Stephen Sacks, Barry published the pioneering research paper modeling a strategy that uses reverse mortgage credit lines to mitigate the effects of adverse investment returns in retirement accounts (Journal of Financial Planning, February 2012). A sequel to this paper expanding the range of applications of the strategy was co-authored by Peter Neuwirth, F.S.A., and Stephen Sacks. Read all about it. While developing his model for reverse mortgages in retirement income planning, Barry became aware of the particular needs of retirees and soon-to-be retirees in the process of divorce. These needs are particularly concerning in cases where the retirement savings are divided between the parties or where one of the parties has received most of the retirement savings but not much of the home equity value: Read more here. Barry is a frequent speaker on those subjects, live and in webinars, to financial planning groups, estate planning and trust attorneys’ and accountants’ groups, reverse mortgage lenders’ groups, and graduate tax seminars at law and business schools. He lives in San Francisco and Sonoma, except when traveling faraway exotic places.

About Neuwirth Associates Consulting: Founded by Peter Neuwirth, FSA, FCA, and Barry Sacks, PhD, JD, Neuwirth Associates Consulting is dedicated to the proposition that the actuarial perspective is critical for addressing many of the most significant problems that individuals face as they navigate through the current economic environment and grapple with the risks and challenges associated with utilizing their assets to live on for the rest of their lives. Neuwirth Associates Consulting provides analysis and technical support to CFPs, CPAs, family lawyers, loan officers, investment advisors, and Retirement Plan sponsors in the areas of retirement planning, asset division in divorce, and Life Insurance/Annuity product analysis. Our focus is on developing specific strategies and risk mitigation techniques that will enable our clients to solve their clients’ problems in a cost- and tax-efficient manner. For more than 40 years, Pete and Barry have each provided cutting-edge actuarial and tax consulting to some of the largest organizations in the world. Since 2017, they have collaborated on groundbreaking research focusing on using different asset classes (e.g., reverse mortgages) to manage risks during the “decumulation” phase of life. Beginning in 2023, Neuwirth Associates also began to provide insight, advice, analysis, and education to family lawyers and CFPs regarding complex asset division problems among older high-net-worth couples getting divorced (aka: Silver Divorce).

Learn more at NeuwirthAssociates.consulting

Learn about actuary and author Peter Neuwirth: www.PeterNeuwirth.com • Listen to our podcasts on PeterNeuwirthRadio.com • Watch all of our episodes: www.PeterNeuwirth.tv

A Note from the Silver Divorce Consulting Team: Divorce among couples where one or both spouses are over age 50 has increased dramatically in the last few years. The challenges that lawyers and financial advisors face when working with clients going through a “Silver Divorce” can be extremely daunting.

In fact, many professionals on whom the Courts rely simply don’t have the expertise or experience to effectively address the overwhelming complexities that often arise in such cases – particularly those around real estate, taxes, and Qualified Retirement Plans.

To fill this gap, we at Silver Divorce Consulting have a team of experts who can support Family Lawyers, CPAs, and Financial Advisors in their efforts to help their clients navigate through a silver divorce without experiencing the devastating financial consequences and/or extremely long timelines associated with so many divorces that involve older couples.

Click here to learn more.

Previous Episodes
Thursday, February 15th, 2024

Meet Divorce Financial Expert Lili A. Vasileff, CFP®, author of “Money & Divorce,” our star on Season 1: Ep4 of Peter Neuwirth’s show, Silver Divorce: How to Simplify a Painful Process

Winter 2024: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month’s episode of my podcast and video show, Silver Divorce, where for 30 minutes, we unpack ways you can simplify the painful process of getting divorced in your senior years. Meet our guest: Divorce Financial Expert Lili A. Vasileff, CFP®, author of “Money & Divorce: The Essential Roadmap to Mastering Financial Decisions” This month’s topic: Creating your Silver Divorce Roadmap PeteClick here to listen to the podcast!

Friday, December 1st, 2023

Season 1: Episode 3 of Silver Divorce: Forensic accountant James Schaefer specializes in complex divorces — check out his advice!

December 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month’s episode of my podcast and video show, Silver Divorce, where for 30 minutes, we unpack ways you can simplify the painful process of getting divorced in your senior years. Meet our guest: Forensic Accountant James Schaefer This month’s topic: Accounting Matters in Silver Divorce Pete will ask Jim the following about the topics and videos he’s crafted for clients:  Click here to listen to the podcast!

Wednesday, November 1st, 2023

Divorce Planner Brooke Benson shines a light on “Mortgages and Divorce” on Season 1: Episode 2 of Peter Neuwirth’s new show, Silver Divorce: How to Simplify a Painful Process

November 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month’s episode of my podcast and video show, Silver Divorce, where for 30 minutes, we unpack ways you can simplify the painful process of getting divorced in your senior years. Meet our guest: Divorce Planner and Mortgage Banker Brooke Benson, MA, CDLP This month’s topic: Identifying and engaging the variety of financial experts you will need to work with in aClick here to listen to the podcast!

Sunday, September 17th, 2023

Learn how to manage your money during divorce with Certified Divorce Financial Analyst, CFP® professional Marguerita Cheng today on Season 1: Episode 1 of Peter Neuwirth’s new show, Silver Divorce: How to Simplify a Painful Process

October 1, 2023: A Note from Actuary and Author Peter Neuwirth, FSA, FCA — I invite you to tune in for this month’s episode of my podcast and video show, Silver Divorce, where for 30 minutes, we unpack ways you can simplify the painful process of getting divorced in your senior years. Meet our guest: Marguerita Cheng, CFP® Pro This month’s topic: An Essential Conversation with a CFP Pro about Silver Divorce Pete and Marguerita discuss:  You are a Certified Divorce FinancialClick here to listen to the podcast!

Thursday, August 3rd, 2023

Join Actuary Peter Neuwirth & Associates for a new show — Silver Divorce: Simplify a Painful Process

September 2023: A Note from Peter Neuwirth — Silver Divorce Consulting and the lessons I have learned from a California wildfire Having my house burn down in a California wildfire taught me much about risk. In the last chapter of my second book, Money Mountaineering, I muse on the difference between financial forest fires and  “real” ones like the Glass Fire of September 2020, which destroyed my home in Santa Rosa just before I completed writing the book and submittedClick here to listen to the podcast!