Understanding Reverse Mortgages: A Financial Tool for Divorce Professionals and Gray Divorces | Laura Phillips

http://www.MediatorPodcast.com

Hi, welcome to MediatorPodcast.com, a podcast and video series about all things related to mediation, negotiation, and settlement offers.

My name is Melissa Gragg, and I'm a financial mediator and corporate valuation expert based in St. Louis, Missouri. I’ve authored several books, including Anchor the Deal, which focuses on divorce mediation and negotiating settlement offers.

But my guest today is a renowned expert in her field. Please welcome Laura Phillips to the podcast. She's a reverse mortgage specialist based in Colorado and also services clients in Florida, California, and Arizona. With over 25 years of experience in real estate lending, she brings an option to the mediation table that many professionals may not be aware of—and therefore may not be utilizing.

This is an especially relevant tool when working with couples going through gray divorce, or for financial advisors focused on preserving retirement assets. There’s a lot to unpack here today.

Welcome, Laura!

5 Key Takeaways:

• Modern Reverse Mortgages Are Safer and More Flexible
• Ideal for Seniors in Gray Divorce Situations
• Misconceptions Are Common but Often Incorrect
• A Strategic Tool for Advisors, Mediators, and Investors
• Funds Can Be Used for Anything—with No Monthly Payments

Questions you may ask before watching this episode:
1. What is a reverse mortgage and how does it work?
A reverse mortgage is a loan available to homeowners aged 62 and older that allows them to convert home equity into cash without selling their home or making monthly mortgage payments. The loan is repaid when the homeowner moves out, sells the home, or passes away.

2. Who is a good candidate for a reverse mortgage?
Seniors aged 62+ who want to stay in their home long-term and need to supplement retirement income, pay for care, or avoid tapping into retirement accounts. It's also useful for those receiving a house in a divorce and needing access to equity.

3. Can you use a reverse mortgage in a divorce settlement?
Yes. Reverse mortgages are increasingly used in gray divorces to help one party retain the home while paying the other their share of the equity, without needing to sell the property or liquidate investments.

4. Do you lose ownership of your home with a reverse mortgage?
No. You retain full ownership and remain on the title. The reverse mortgage is simply a lien on the home—just like a traditional mortgage.

5. What happens to the home when the borrower dies or moves out?
Heirs can choose to repay the loan and keep the home or sell the property. If the home sells for less than the loan balance, heirs owe nothing more—because reverse mortgages are non-recourse loans.

6. Are reverse mortgage proceeds taxable?
Generally, no. Reverse mortgage proceeds are considered loan advances and not income, so they are usually not subject to federal income tax. However, borrowers should consult a tax advisor for personal situations.

7. Can reverse mortgage funds be used to invest or buy another property?
Yes. While the reverse mortgage must be on your primary residence, funds can be used however you wish—including buying investment property, making home modifications, or starting a business.

Connect with Laura:
https://www.linkedin.com/in/laurawphillips/
https://myhomeloandenver.com/

Connect with Melissa:
Melissa Gragg
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
Cell: (314) 541-8163

Divorce Mediation Consulting: Preparation is Necessary - Divorce Mediation Experts | MediatorPodcast.com

Watch the full podcast here

Welcome to MediatorPodcast.com — a podcast and video series focused on mediation, negotiation, and collaboration. I'm Melissa Gragg, a valuation expert and divorce financial mediator based in St. Louis, Missouri. In this episode, I sit down with Rosalia Labate, a New York-based Certified Divorce Financial Analyst (CDFA) and CPA, who provides services like forensic accounting, asset tracing, lifestyle analysis, and business valuation.

We dive into a crucial question for anyone facing divorce: Should you prepare a financial settlement offer before hiring an attorney or attending mediation? This conversation explores the strategy behind financial preparation, how to avoid emotional and financial pitfalls, and what really happens when you show up to mediation unprepared.

🔑 5 Key Takeaways:
Start With a Financial Plan, Not a Lawsuit
Before hiring an attorney or filing for divorce, meet with a financial expert to understand your assets, debts, income, and potential settlement options. This strategy gives you control from the start.

Settlement Offers Can Save Time and Money
Walking into mediation with a draft offer based on your financial reality can make the process faster, clearer, and more cost-effective — even if it’s not complete.

Mediators Aren’t Mind Readers
If you don’t present your key issues (like separate property, business valuation, or marital waste), they may never be considered. Create a clear summary to guide the conversation.

Missing Documents = Missed Opportunities
If you suspect missing assets or financial deception, bring evidence (bank statements, summaries of transactions) to the first mediation — or risk losing the chance to address them later.

Know Your Role and Build a Team
Whether you use a consulting attorney or a financial neutral, having a trusted expert in your corner improves outcomes. Prepare, practice, and know when to speak — and when to let your expert lead the negotiation.

Connect with Rosalia Labate
Visit Rosalia's Website

Melissa Gragg is a seasoned financial mediator and business valuation expert with over 20 years of experience. She specializes in helping couples and business partners navigate complex financial disputes during divorce and separation. As the founder of Bridge Valuation Partners and a key member of The Divorce Allies, Melissa offers neutral, third-party services including business valuations, pension assessments, income analysis, and strategic settlement planning.

The Divorce Allies is a collaborative network of professionals dedicated to providing comprehensive support during the divorce process. Their team includes experts in financial mediation, high-conflict divorce coaching, mortgage planning, co-parenting education, and post-divorce transition. Together, they aim to empower individuals with the resources and guidance needed to achieve amicable and informed resolutions.

https://www.valuationmediation.com
https://www.thedivorceallies.com
http://www.MediatorPodcast.com
https://www.ValuationPodcast.com

Connect with Melissa:
Melissa Gragg
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
Cell: (314) 541-8163

What is ProSe Consulting and How to Utilize a Pro Se Advocate to Reach a Divorce Settlement - MediatorPodcast.com with Tracey Bee

Hi, welcome to MediatorPodcast.com, a podcast and video series about mediation, negotiation, and collaboration. My name is Melissa Gragg, and I'm a Valuation Expert and Divorce Financial Mediator in St. Louis, Missouri.

Today, we're talking about divorce mediation consulting with Tracy Bee, who is a Pro Se Divorce Advocate. She's located in New Jersey, and she's also a divorce lawyer and mediator servicing clients around the country.

A pro se advocate is a professional who assists individuals who choose to represent themselves in legal matters, especially in court, without the full representation of a lawyer. This type of advocacy is important because it empowers individuals by helping them understand and navigate the complexities of the legal system on their own. Pro se advocates offer guidance and support, ensuring that self-representing individuals are not disadvantaged by their lack of legal knowledge. They play a crucial role in providing educational resources, strategic advice, and moral support, making the legal process more accessible and less intimidating for those who cannot afford or choose not to hire a full-time attorney.

Podcast Takeaways:
Understanding Pro Se Representation: Pro se, or self-representation, is a legal process where an individual opts to represent themselves in court without the direct representation of a lawyer. Tracy emphasizes the empowerment aspect of pro se representation, advocating for one's rights and navigating the legal system with more personal control and potentially less financial burden.

The Role of a Pro Se Divorce Advocate: As a pro se divorce advocate, Tracy provides strategic guidance and advocacy, helping clients understand the intricacies of family court. Her role is crucial in preparing clients not only for the legal battles but also for managing the personal and emotional challenges that come with divorce proceedings.

Challenges and Solutions in Pro Se Representation: Tracy highlights the systemic resistance against pro se litigants, such as biases from legal professionals and inherent complexities of the court system. However, she also outlines solutions like educational resources, strategic planning, and occasional consultations with legal experts to bridge knowledge gaps.

Empowering Through Education and Preparation: A significant part of Tracy's advocacy involves educating her clients about the realities of family court, debunking myths, and setting realistic expectations. She stresses the importance of thorough preparation and understanding one’s rights and responsibilities within the legal framework.

Collaboration and Support Networks: Tracy discusses the importance of collaboration between various professionals, including legal advisors, financial experts, and mental health professionals, to provide a comprehensive support system for individuals navigating divorce pro se.

Connect with Tracey Bee:
https://www.linkedin.com/in/familycourtstrategist/
https://thedivorcesolutionist.com/

Connect with Melissa:
Melissa Gragg
CVA, MAFF
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
http://www.ValuationPodcast.com
http://www.MediatorPodcast.com
https://www.valuationmediation.com
https://www.thedivorceallies.com/
Cell: (314) 541-8163