ENG2519. Navigating the Financial Maze of Gray Divorce: Tax Implications and Planning Strategies for CPAs (PFP, TAX)

As the rate of 'gray divorce' - separations among couples aged 50 and older - continues to rise, CPAs are increasingly called upon to navigate the complex financial landscape these splits entail. This session will delve into the unique challenges and opportunities presented by gray divorce, with a focus on critical tax implications and planning strategies. Attendees will gain insights into key areas such as retirement account division, Social Security benefits and asset transfer regulations. We'll explore how tax laws affect divorce settlements for older couples and discuss practical approaches to minimize tax burdens for clients. By the end of this hour, CPAs will be equipped with valuable knowledge to guide clients through the financial intricacies of gray divorce, ensuring optimal tax positioning and financial stability in their post-divorce lives.

Learning Objectives:

• Gain insights into the unique financial and emotional challenges faced by individuals divorcing after 50, enabling them to effectively address the specific priorities and concerns of gray divorce clients.
• Learn advanced techniques for equitable distribution of assets and understanding tax implications, including Social Security considerations and community property laws, to minimize tax burdens for their clients.
• Learn best practices for comprehensive financial assessment and strategic planning in gray divorce, focusing on critical decisions regarding asset retention, healthcare planning, and fostering collaboration with legal professionals.