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Wealth Transitions Archives | Wealthspire

Thinking of Engagement? 15 Financial Questions to Ask Before Getting Married

By Blog No Comments
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

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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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Financial Awareness and Divorce

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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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sell 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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Determining Where to File for Divorce

By Blog
In most situations, you will file for a divorce in the state in which you and/or your spouse live. If you and your spouse own property in different states or you live apart, you might be able to select the state in which to file. In those situations, you and your attorney should evaluate the respective states’ divorce laws to determine the best choice. Among the items to consider are the length of time it will take to grant a divorce, the age of majority used in determining how long a parent is required to pay child support (for some…
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