Wealth Transition Tips & Resources

Part of aging is accepting that any one of us may face mental or physical health challenges along the way. When a serious diagnosis like Alzheimer’s or Parkinson’s occurs, it can feel overwhelming. For the family, too, this moment is significant. It doesn’t just involve planning for the individual with the diagnosis; it also means needing to protect and inform the entire care system. A well-organized incapacity plan can offer legal protection, clarity, control and emotional steadiness during un

You’re divorcing. You have a million things to think and worry about. Your divorce professional (whether a matrimonial attorney, mediator, or collaborative lawyer) is asking for all kinds of information and documentation. You’re worried about your kids and custody. You’re wondering whether you’ll stay in your home. You’re emotionally raw and trying to hold it all together. And the last thing you want to think about is your financial plan, but that’s one of the most important aspects of divorce.

I’ve been approached by many matrimonial attorneys, therapists, and divorce coaches who ask me to help their clients with their finances before, during, and after their divorces. Many people getting divorced, both men and women, may be smart, accomplished, or at their top of their professions, yet were not the ones handling the finances in their marriage. Many of these clients don’t know what they spend, how much their mortgage is, what assets they have. They’re unaware how much debt they have,

In my wealth management practice, I focus on helping business owners and corporate executives achieve quality of life and financial freedom. For some time now, I have been interested in exit planning for business owners. This interest led me to engage with other advisors and business owners as a Tri-State member of the Exit Planning Exchange and to obtain my CEPA (Certified Exit Planning Advisor) credential from the Exit Planning Institute. As CEPA professionals, we think of exit planning as a

As you begin to think about selling your business, excitement about what your life will look like after the sale may be tempered by the reality of a significant capital gain recognition event. One way to manage some portion of the potential income tax consequences of a sale is through philanthropy. Thoughtful charitable planning may provide both meaningful capital gain management and an opportunity to give back to the community that allowed you and your business to thrive. You may make a charit

As financial advisors, we work with many clients who have lost a spouse, gone through a divorce, or are wondering what they should do if something happens to their significant other who has been managing the money and finances. We also work with many people who find themselves in a position of having to manage their parents’ finances. No matter the situation, it’s important for each person to be involved in the family finances – knowing where things are, who to call, and what to do in case an u

Attorneys at the largest, most selective law firms work in a rarefied space. They serve leading companies, advise top officials, and walk hallowed hallways alongside the nation’s elite. And a select few may eventually become partners – both a professional and financial triumph that promises status and other rewards. Years of creating complex financial plans for legal professionals has highlighted that the transition to partner can be financially difficult. While making partner can seem to be th

As the compensation landscape for Big Law associates continues to evolve, new financial implications also arise, making it more important than ever to focus on practical planning strategies for associates at different career stages. With salaries and bonuses soaring to new heights, it’s crucial for young lawyers to make wise financial decisions. The Current Compensation Landscape Recently, Big Law firms have significantly increased compensation for associates. This trend began with Milbank and

You’ve done it! Three years of law school, a summer internship or two, several grueling months of bar exam prep, and then – hopefully – some much-needed R&R. All of this has led to you to your first BigLaw associate job, and you’ve got the starting salary – and, more than likely, the hefty student loans – to show for your efforts. The numbers vary, but statistics suggest that less than 10% of associates will eventually go on to make partner at their respective firms (in some cases, as few a