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Wealth Transitions Archives - Wealthspire

family finances

What Everyone Should Know About Their Family Finances

By Blog
I 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 clients who find themselves in a position of having to manage their parent’s finances. No matter the situation, it is 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 unforeseen event occurs. Maintaining transparency and having candid conversations about finances can also…
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Thinking of Engagement? 15 Financial Questions to Ask Before Getting Married

By Blog
When two people who are both professionals consider getting engaged and married, it is imperative that they first consider their finances. Some entrepreneurs, business owners, and high earners (or their parents) will want a pre-nuptial agreement. Whether you are in a position of wealth or just starting out, there are many questions that should be discussed before walking down the aisle. The first set of questions involves current finances: How much do each of you make? How much have each of you saved? Do you both have retirement plans? Are you contributing to 401(k) plans at work? Are each of…
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planning partners law

Planning Challenges for Rising Partners at Top Law Firms

By Blog
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 the key to financial success, in the short-term many new partners are not prepared for the transition to partner – grabbing the golden key…
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divorce

Financial Awareness and Divorce

By Blog
I have 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, how much debt they have, what is in their investment accounts, or what is in their pension and retirement accounts. They weren’t the ones…
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executive order small business

Preparing to Sell Your Business: How to Optimize the Sale and Transition

By Guides & Whitepapers
We’ve worked with entrepreneurs over the years who have poured their hearts and souls into their businesses. And when the time is right, many consider selling their company. Planning ahead can allow an entrepreneur to take steps to increase the value of their business. It can also help them to sell at the right time – when the price they can get for their business is optimal or before health issues or other problems might force them to sell. While many business owners understand that a transition plan is important, 43% have no plan in place and 80% do not…
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