Just because someone may have a high net worth, doesn’t always mean they are good with their money. Recently I sat down with Katherine Miller @MillerLaw_NY on Divorce Dialogues to discuss 5 mistakes that high net worth individuals make when they are getting divorced.
“Maybe if I can’t afford this house and I have to sell it in two years and it’s all on me, I only get the exclusion up to $250,000, whereas if we sold it as a couple, we could have had a $500,000 exclusion and saved ourselves a lot more in profit.” – Lili Vasileff in re: discussion of tax smart asset division tips for divorce.
“It’s hard to overcome a client’s enamored passion,” said Lili Vasileff, a certified financial planner in Greenwich, Conn. “Time might prove you right [that the marriage was a mistake], but by that time you’re long fired.”
