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Divorce Consulting - Re-creating A Financial Vision for The Future

Divorce Consulting - Re-creating A Financial Vision for The Future. Divorce Consulting - Re-creating A Financial Vision for The Future October 27, 2011 Presented by Gregory J. Ksicinski, CPA/ABV MST. Divorce Consulting. Introduction to Divorce Consulting

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Divorce Consulting - Re-creating A Financial Vision for The Future

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  1. Divorce Consulting - Re-creating A Financial Vision for The Future

  2. Divorce Consulting - Re-creating A Financial Vision for The Future October 27, 2011 Presented by Gregory J. Ksicinski, CPA/ABV MST

  3. Divorce Consulting Introduction to Divorce Consulting • Why Would You Want to Get Involved? • Marriage and Divorce Statistics • Services Able to Be Offered • Planning • Throughout the Process • Post-Divorce

  4. Process Options • Pro se – the parties only • High percentage of cases in Milwaukee and Waukesha • Litigation – two attorneys • Formal process; can be very costly

  5. Process Options • Mediation – can be with attorneys or without attorneys • No legal representation, only legal information is shared – no advice. • One attorney may be drafter of documents • Cooperation – two attorneys • Agreement to “cooperate” to achieve settlement without litigation

  6. Process Options Collaborative - two attorneys, mental health coaches, financial neutral, child specialist • Formal agreement that all professionals will not continue if agreement is not reached • Most respectful process; full disclosure is part of process • Would seem to be expensive but actually often can cost much less than litigation options

  7. Placement of children Placement and Custody Issues Guardian ad litem Property division Valuation Issues Fair Market Value Standard Tax Affecting Tax Issues/Concerns Equalization presumption Issues To Be Decided

  8. Issues To Be Decided Child Support & Maintenance • Income for Support • Gross Income (DCF 150) • Child Support Percentages • Fixed percentages • High Income payers • Shared Placement • Split Placement

  9. Issues To Be Decided • Maintenance • Statutory Factors • Equalization of Disposable Income • Overriding Principle

  10. Financial Assistance Valuation of assets • Fair Market Value Determination • Tax Impact on Various Types of Assets • Retirement Plans • Defined Contribution Plans • Defined Benefit Plans Cash flow • Disposable Income Concept • What makes sense for both parties? • Reasonable level of support • Is it 50/50 or something else?

  11. Financial Assistance • Projections • How could allocated assets work for each individual in the future? • Budgeting • Long term projections

  12. Divorce Consulting - Re-creating A Financial Vision for The Future Q A &

  13. Thank You

  14. Divorce Consulting - Re-creating A Financial Vision for The Future Greg Ksicinski Ksicinskig@sva.com 262.923.5133

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