Untangling Financial Deceit with Tracy Coenen (part 2)

Been There Got Out Podcast

How would you feel if you discovered hidden financial secrets during your divorce? Join us for a riveting conversation with Tracy Coenen of the Divorce Money Guide, as we share our serendipitous meeting at the Amicable Divorce Network's convention in Nashville and dive into the intricacies of financial management in divorce. Tracy's expertise in forensic accounting sheds light on the often-overlooked aspect of financial control in abusive relationships. From our initial meeting over donuts to deep discussions on marital finances, Tracy offers her invaluable insights into understanding financial complexities before finalizing a divorce settlement.
We'll unravel the world of forensic accounting and its crucial role in uncovering financial infidelity. Tracy explains how forensic accountants go beyond traditional accounting by investigating and verifying transactions, often revealing hidden accounts and secret expenditures. Through compelling personal anecdotes and case studies, we explore the emotional impact of discovering financial deceit within marriages and the challenges of reconciling trust after betrayal. This chapter highlights how forensic accounting tools can uncover the truth and empower individuals facing financial infidelity.
In the final part of our episode, we focus on recognizing financial red flags and avoiding costly divorce settlement mistakes. We discuss insights on identifying hidden funds through "round-number withdrawals" and the importance of trusting one's intuition. We discuss the dangers of settling without a full disclosure of assets and the tactics often used in high-conflict divorces. Tracy offers practical advice on negotiation skills and preparing financially to prevent exploitation. This is the second of a two-part episode that equips you with the knowledge and tools to navigate the financial intricacies of divorce confidently and ensure a fair settlement.