https://vimeo.com/506149934 Think about your family. There are grandparents, children, nieces, nephews, uncles, aunts, parents, and cousins. It’s a noisy, joyful, sometimes difficult to manage group of people who are tied together by love, and a shared history and bloodline. In a similar way, the people in a business are also bound together by a common cause. In fact, families and business share many things in common. Here are three things that families and businesses have in common: They Need Diversity Imagine that you’re fighting with your sister. The argument is…
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3 Lessons from Star Wars About Financial Literacy
https://vimeo.com/506145496 Yoda, the funny little green humanoid alien from the Star Wars movies, spouts off gems of wisdom in each of the films. He is a famous jedi master and teacher, the best in the galaxy. So vast is his wisdom that his advice is relevant to financial literacy. Whether you’re a young Padawan, or a seasoned Jedi master, Yoda offers important lessons from which we can all learn. Here are three valuable lessons in financial literacy that you can learn from Yoda in the Star Wars movies.. Read them…
Read moreOutsmarting the Boomerang: Financial Independence for Adult Children in 3 Steps
https://www.youtube.com/watch?v=K5JVQFtchLs&list=PLrPVMfU_ZGupjzfPmHJ9wf-qLtz4PX1-7&index=2 Did you know that as of 2014, 18 to 34-year-olds were more likely to live with their parents than with a partner or spouse? Up to 15% of young adults now live with their parents for an average stay of 3 years. Even those who hold bachelor’s degrees follow the trend. This is the so-called boomerang effect. Many young adults try to strike out on their own by heading off to college, but can’t finance life independently. So, they return to the safety and security of their parent’s home.…
Read moreIs a Financial Advisor Worth It?
The world of 50 years ago was a lot different than it is today. An individual often worked at the same job all his or her adult life, lived in the same house, and stayed married to the same spouse. In those days, too, one spouse could support a family, paying for college ordinarily didn’t require taking out a second mortgage, and people could look forward to retiring on Social Security and possibly a company pension. Today, your hopes and dreams are no different. Like most people, you probably want…
Read moreWhat is risk management and how is it relevant to divorce?
Risk may be defined as the possibility of harm, injury, loss, danger, or destruction. One option to help manage risk is to purchase sufficient insurance to pay for losses. Risk management is an important topic for separated or divorcing couples. When a divorce occurs, the selection of life and health insurance beneficiaries may have to be revised and, in some cases, insurance coverage may terminate. Because it’s common for one spouse to maintain health insurance for the family, for example, the breakup of a marriage can have serious consequences for…
Read moreWhat is debt and how is it classified for divorce purposes?
What is a qualified domestic relations order (QDRO)?
A qualified domestic relations order (QDRO) is a court judgment, decree, or order establishing the marital property rights of a spouse, former spouse, child, or dependent of a pension plan participant with respect to certain qualified retirement plans. Several requirements and restrictions apply. To what extent are retirement assets subject to divorce court jurisdiction? A retirement plan is a form of property. Like houses, cars, and bank accounts, a retirement plan can be divided between spouses at the time of a divorce. For example, if one spouse participates in a…
Read moreWhat is a financial affidavit and how is it used in a divorce context?
When divorce proceedings are commenced, each spouse is required to fill out a financial affidavit. This form, which becomes part of the court record, shows income from all sources, debt (or liabilities), living expenses, and assets. Each party swears (under the pains and penalties of perjury) that the information contained on his or her affidavit is true. A judge will use theinformation contained in this affidavit when he or she issues temporary orders regarding separate maintenance (temporary alimony), child support, and other financial matters during the period of separation. The…
Read moreDiamond Partner for KidSide
https://kidsidemiami.org/kidside-newsletter-july-2020/ SHECHTER & EVERETT, LLP recently became Diamond Partner for KidSide.
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