South Florida Sun-Sentinel (Sunday) : 2020-12-06

Money : 55 : 11

Money

Sun Sentinel | Section2 | Sunday, December 6, 2020 11 . SPONSORED CONTENT ADVISERS ASK THE The views and options expressed in “Ask the Advisers” are solely those of Keith Singer. Singer Wealth Keith Singer, JD CFPTM Keith Singer Singer Wealth 2 Locations: 1515 S. Federal Highway, #211, Boca Raton, FL 33432 20900 NE 30th Avenue, Suite 600, Aventura, FL 33180 561-998-9985 Phone: Website: www.singerweal­th.com Email: Keith@singerweal­th.com Financial Considerat­ions of Divorce which assets potentiall­y have either tax advantages or disadvanta­ges. Once assets are divided and the divorce is concluded, a myriad of decisions must be made. It may be necessary to find a new place to live and the parties need to efficientl­y invest assets for growth or to generate income. These financial decisions are often thrust upon those who lack significan­t experience in making these types of decisions especially if those responsibi­lities had been delegated to one’s former spouse. Additional­ly, it is very common that during the marriage both spouses shared the same financial advisor which was fine when their financial interests were aligned. Yet as is often the case, one spouse may have had a longer and closer relationsh­ip with the financial advisor then the other spouse. To the extent the husband and wife’s relationsh­ip turns adversaria­l, this could potentiall­y create a conflict of interest for the financial advisor. Therefore, it may be necessary for one of the spouses to find their own advisor who is loyal only to them and not their former spouse. Although most people enter into a marriage with the intention of spending the rest of their lives together, about half of all marriages end in divorce.* The process of terminatin­g one’s marriage can be very expensive. Costs could include legal fees, accounting fees, alimony, the division of assets and the ongoing cost of operating two households instead of one. Those who get divorced must completely rework their financial plans while often figuring out how to achieve their financial goals in the face of a potential reduction of income and decrease of assets. Both parties should obtain proper legal advice before starting divorce negotiatio­ns. One’s marital settlement agreement can have lifealteri­ng consequenc­es. When dividing assets, it’s common for one spouse to attempt to gain control over a specific asset like shares of a closely held business or the marital residence. When attempting to divide assets, it’s important to understand which assets have the most growth potential and *Source: apa.org https://www.apa.org/topics/divorce#:~: text=They%20are%20also%20good%20 for,subsequent%20marriage­s%20is%20 even%20higher. Singer Wealth Advisors, Inc. is an SEC registered investment advisory firm. This material is provided for informatio­nal purposes only, is general in nature, and is not a recommenda­tion to buy or sell any investment or adopt any investment strategy. It does not consider the specific investment objectives, tax and financial condition, or risk tolerance of any investor. Prior to making any investment­s please discuss with your financial advisor. PRINTED AND DISTRIBUTE­D BY PRESSREADE­R PressReade­r.com +1 604 278 4604 ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY . ORIGINAL COPY COPYRIGHT AND PROTECTED BY APPLICABLE LAW