Sarah Keys, CDFA®, senior vice president and financial advisor and Sarah LePhew, CFP®, CDFA®. vice president and financial advisor at Wealth Enhancement Group were featured by InvestmentNews in “January Jump in Divorces Offers Advisors Opportunity to Provide Value.”
“I want to serve as an equal and impartial aid to both by providing information related to the assets that they own and the tax implications of current and future distributions of these assets,” LePhew said. “Then, I like to update each client’s financial plan — individually — to reflect the changes in assets, liabilities and income so that they have an understanding of the financial impact of the decisions made in the divorce agreement.”
“If one spouse gets a bunch of low-basis stock in a taxable account but needs to sell the stock to maintain one’s lifestyle or cover a large, unanticipated expense after the divorce, there can be a shock when they realize that there is a large tax bill associated with the sale that they hadn’t thought about when they accepted the assets in the divorce proceedings,” Keys said.
Access the full article written by Gregg Greenberg here.
