Divorce Hits Women Harder

August 2008: Bad decisions can bring financial disaster post-divorce

• The average woman sees a 45% drop in her standard of living; the average man improves his standard of living by 15%.

• Women usually get the biggest financial drain -- the home and children; men get the biggest booster -- the ability to earn a higher income.

What can women do to protect their assets?TIPS FOR AVOIDING A POST-DIVORCE FINANCIAL CRISIS

"Even the most professionally savvy women often make disastrous, irreversible mistakes in a divorce," explains Certified Financial Planner Faith Xenos, co-founder and partner of Singer Xenos, one of South Florida's largest independent wealth management firms. "When it comes to divorce, women need to get their heads out of the clouds and take the steps to protect themselves from falling into financial crises."

Faith Xenos offers simple steps any woman can take to protect her financial interests, whether she's in the planning, execution or recovery stage of divorce, such as:

1. Don't litigate. "A court battle will never yield any better than 50/50, which is where a long-term marriage will ultimately end up with a division of assets," explains Xenos.

2. Recognize asset inequality. "All assets are not created equal," advises Xenos. "Two bonds may have the same value on paper, but if you proceed at face value you could get stuck with illiquid or highly taxable assets. Have a CFP or CPA review everything before you sign on the dotted line."

3. Be a detective. "There's no such thing as forensic accounting -- know where your assets are today," suggests Xenos. "Start with tax returns, but recognize that your husband could have other assets, like stock options with his firm that could be very valuable later on. Items like these don't show up on a tax return."

Faith Xenos is a respected and experienced financial expert with extensive knowledge of women's financial services. In addition to her roles as a founding partner, Certified Financial Planner, chief investment officer, chief operating officer, and advisor of Singer Xenos, Faith also leads the company's Women's Financial Services division. Faith Xenos has been featured in numerous publications, including Working Woman, Florida Trend, Miami Today, Daily Business Review and Miami Business. For more information, please visit www.singerxenos.com