It’s a common myth that spouses always divide their assets evenly between them if they get divorced. While it’s true that assets are typically divided between a couple in cases of marital dissolution, such division of property may not necessarily be equal.
Trimming college costs up front can help families avoid excessive college borrowing and the burdensome student loan payments that come with it.
For many workers, there may be mathematical and psychological advantages to keeping a pension. On the other hand, a lump sum could provide financial flexibility that may benefit some families.
If you are the adult child of aging parents, you may find yourself in the position of someday having to assist them with handling their finances. Whether that time is in the near future or sometime further down the road, there are some steps you can take now to make the process a bit easier.
It is important that family law attorneys develop a plan for addressing valuation issues early in the engagement so that the guesswork related to business value is minimized and client expectations are appropriately managed.
Proposed changes could hinder your ability to take valuation discounts when transferring ownership interests in privately held businesses to family members
High net worth individuals who are willing to make an irrevocable gift to a trust for the benefit of family members, but still seek to maintain an income stream, should consider a Grantor Retained Annuity Trust (GRAT).
Although you and your grandchild are at opposite ends of the spectrum, you have more in common than you think. Focusing on what you can learn together and what you can teach each other about financial matters may help you see that you’re not that different after all.
Anyone having funds in a qualified retirement plan or IRA should have designated at least one beneficiary for the funds should something happen to the owner. Uninformed choices at the set up or because of changes in circumstances can cause the beneficiary choices to be inappropriate today. Review your beneficiary designation forms and look for these common mistakes…
Whether they’re theorizing about what a meeting is, playing “seckers” or solving America’s college expenses, the kids of Skoda Minotti are here to help. Check out the videos below for useful insights on teamwork, thought leadership, family, our firm and college.