Divorce and College Planning presented by Andrea B McGrath, CFP®, CDFA®, CRPC®, RICP®, CCFC®
College planning can be an overwhelming process on its own but coupled with divorce the process can be even more stressful. Andrea's presentation will cover the FAFSA vs CSS and discuss who should complete it and what is includable for both parent’s and student’s income and assets. What income and assets are excluded? What are the allowances? How and when should savings vehicles be used? Are all expenses qualified? What are the various tax credits and deductions and how can they be best recognized? How and when should I look at ways to improve my chances of receiving aid and what are some pitfalls to avoid.
A 1988 Graduate of Suffolk University who launched her career as an independent insurance agent and learned the ropes of running her father’s agency before buying him out and expanding into Financial Services as an Investment Advisor Representative with Voya Financial. Her main focus was Financial Planning with a concentration in Retirement Income Planning when she was introduced to the divorce niche by several clients who were going through divorce coupled with her own new role as a bonus step-parent. She soon discovered a passion that hadn’t previously been ignited. In 2018, she became a CDFA and joined Vesta Divorce and Strategic Divorce Planning working with individuals and couples and helping them achieve financial independence and sustainability before, during and after divorce and where she got to use her insurance, financial planning and business owner experience. She also has taken basic mediation, Collaborative Law Training and in 2020 became a Certified College Financial Consultant, by far the most worthwhile and meaningful work she has ever done outside of he community service work. She has also served as Secretary of the Medford Chamber, twice Past Distinguished President of the Medford Kiwanis Club and past recipient of the Medford Citizen of the Year Award in 2013. Even though she spends the majority of her waking hours in Medford, she makes her home in Winthrop by the Sea.