49. A Practical Guide to Prenups, Money Conversations and Alimony with Divorce Lawyer Erica Lubans

Whether you’re preparing to divorce or about to get married, there are actions you can take today to make sure your financial future is protected. In this episode, Erica Lubans breaks down some of the most important concepts to know about prenups, state divorce laws, alimony, and much more. She shares practical advice for women about preparing for and navigating divorce proceedings, and she explains why communication around finances is one of the most important indicators of a successful marriage. Erica is an attorney at the California family law firm Wasser, Cooperman & Mandles, and she has so much expert insight to share! Episode Recap:Today we’re talking with divorce lawyer Erica Lubans (1:07)Why did you decide to become a divorce lawyer? (3:17)Your lawyer is not your therapist (6:59)The way you spend money matters less than how you communicate about it (10:15)What conversations should couples be having before they get married? (13:07)How do equitable distribution and community property laws affect divorce? (16:49)What to include in your prenup (25:30)Alimony vs. Settlements: Which is better (33:21)What are the different types of divorce? (39:18)Common mistakes to avoid (51:07)How do high-profile divorces differ from other divorces? (57:01)Resources:Find every episode of the Fiscal Feminist podcast“The Fiscal Feminist” bookDivorce.com websiteWasser, Cooperman & Mandles Quotes:“In marriages, if there’s solid communication about money and people are being respectful of the other person’s concerns and making them feel safe, then you’re less likely to end up getting divorced because of financial issues.”“Have something for yourself, whether that’s a career or charity or whatever it is. Have something that is just for you during marriage, don’t just devote yourself to your husband and your kids. I know that’s how women are, we’re always putting ourselves last and being preoccupied with other people’s needs, and I’ve seen a lot of women that when the marriage breaks down, they are completely bereft because they didn’t keep anything for themselves.”