5 Mistakes People Make in High-Net-Worth Divorces
When substantial wealth is involved, divorce can become more than an emotionally taxing transition, it becomes a complex financial turning point. For high-net-worth individuals, the stakes are higher, the assets are broader in scope, and the implications can last for generations. Yet even with all the resources available, many people walk into a high-net-worth divorce […]
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Navigating Divorce in Colorado Springs: A Financial Planner’s Guide
Divorce is a significant life transition that brings with it emotional, legal, and financial complexities. For individuals navigating this process in Colorado Springs, understanding the financial landscape is a key part of moving forward with greater clarity. While every divorce is unique, having a structured approach and working with professionals who are familiar with Colorado […]
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Collaborative Divorce: A Financial Perspective
What Is Collaborative Divorce? Collaborative divorce is a process in which both spouses, along with their attorneys and other qualified professionals, agree to resolve their differences outside of court. This approach promotes open dialogue, mutual respect, and a focus on shared outcomes. It offers a path forward that seeks to preserve dignity while addressing the […]
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Understanding the Financial Impact of Divorce on Retirement Plans
Divorce significantly impacts not just emotional and family dynamics, but also financial stability—particularly retirement plans. Understanding these impacts and strategically managing your retirement assets during divorce is critical to securing your financial future. How Divorce Affects Retirement Accounts During a divorce, retirement accounts are often one of the most substantial assets divided between spouses. Common […]
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How Is Debt Divided in a Divorce?
Divorce is often an emotional and financially complex process, and one of the biggest concerns is: Who is responsible for the debt? Many couples accumulate debt together during their marriage, whether through credit cards, mortgages, car loans, or personal loans. But when the marriage ends, dividing that debt can become a major point of contention. […]
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Strategic Tax Insights for High-Net-Worth Individuals
High-net-worth individuals (HNWIs) often face a complex financial landscape characterized by diverse investments and sophisticated financial concerns. They require comprehensive financial planning to preserve and manage their wealth. Strategic tax planning is also integral to HNWI’s wealth management because it allows them to manage their tax liability as they work toward their financial goals. While […]
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How to File Taxes the First Year After Divorce
Divorce can significantly change life and has considerable implications on taxes. Tax filing after divorce requires understanding new filing statuses, exemptions, child deductions, alimony, and property settlements, among other things. Here are the steps to help navigate filing taxes the first year after divorce. Understand your filing status Tax filing status largely affects how much […]
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Alimony and Child Support at Tax Time
Alimony and child support are critical financial componentsoften arising during divorce proceedings. These payments can significantlyimpact both parties’ finances, particularly during tax time. Understanding howthese payments are taxed may ease some concerns and provide clarity at taxtime. This article explains the differences between payments froma tax filing perspective. Alimonyvs. child support: What’s the difference? Alimony, […]
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From Passion to Profit: Top Reasons Women Should Start Their Business Journey Today
Starting a business may seem scary, but it’s also agreat way to turn something you love into a successful career. If you’ve everthought about being your own boss, here are some top reasons why today might bethe perfect day to begin. Follow Your Passion Do you have a hobby that you really like to do […]
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Top Financial Literacy Resources for Military Families
Freedom, unfortunately, doesn’t come free. Along with those fighting on the front lines and the men and women working behind the scenes to help them safeguard our freedoms, we also mustn’t forget their families that are making sacrifices of their own. These military families who do so much to support the men and women who […]
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