by Stephanie Maloney
Every year around “Tax Time” consumers, across the board, get hit with opportunities to “turn that refund into a lot of money” and this year some of it is coming a “Bit Coin” at a time.
Scams that have historically targeted retirees, widows and widowers are now bleeding out to include the newly single. The promise of fantastic returns on even small investments involving “Crypto Currencies” and “Block Chains” is a familiar tale echoing the old hustles of Oil & Gas and Gold & Silver back in the eighties. These scams always prey upon the “fear of missing out” and for a certain percentage of people it always works.
If you, like many of us at a certain age, are engaged in parental care you’ve already heard about some “incredible” offers being made online to “make those retirement funds really pay off”. It’s a relative new development for people to say ‘I know Dad ever since the divorce those things started showing up every day”. Since it’s all online one bad decision might open a “Pandora’s Box” of connected problems.
One of the insidious aspects of this “currency investment” is that it has become all too easy to use the pitch “no traditional broker can make money from it so they steer you away from it”.
That strategy plays deeper into the “missing out” fear and makes it a lot easier to push those buttons and “get in” on something they think is a deal “too good to miss”.
You’re going to see more about this so “be careful out there” as the “Woodsman” said to “Little Red Riding Hood.”
Back in June there was a news story about Richard Williams, the father of Venus & Serena, seeking to evict his estranged wife from their Florida home.
A few days ago the lawyer, Sandy Becher, for the wife spoke about the upcoming divorce in terms of new approach.
“What’s next is we’ll take depositions of the parties and witnesses and have hearings. After we fully exchange financial information, hopefully we can settle the matter at mediation. If not, then litigate any open and unresolved issues there still are.”
We’ll follow this story and see how it plays out. It’s interesting that even people with very substantial assets may need to call in a third-party to help them come to a mutually satisfying agreement.
Mediation is a relatively new component in the array of tools available to build a successful settlement. This sort of high profile case may bring this strategy to the forefront of possibilities much sooner in lieu of litigation.
As difficult as the divorce process can be there are many subtle financial hurdles that can prove problematic even for an amicable agreement.
What happens after the settlement is reached may not lead to the desired end of the agreement if the planning did not include qualifying for a loan.
I read a story by Michele Martin, a N.Y. Mediator, about a wife’s dilemma in not qualifying for a loan to refinance the husband off the current mortgage. Since they had agreed she should keep the house, particularly for the children, they re-worked the agreement.
“Since it was in both parties interest that the wife would be able to keep the house they agreed to increase the amount of and extend the length of spousal support and pay off a car loan in wife’s name in exchange for the wife receiving a smaller split of the assets. he ultimate “numbers” remained the same but it allowed the couple to achieve their goal. Additionally, the new deal happened to be more tax advantageous for the husband (while being tax neutral to the wife).”
This is a great example of what mediation can accomplish to the point of making sure that people get what they need the way that it does the most good for everyone.
Personal Property and Divorce: Family Focused Consignment Offers Solutions
Guest Blog By Mark A. Roger
Proprietor; Backroom @ WestClay
Divorce brings with it upheaval and turmoil; navigating the dissolution of a relationship takes an emotional toll of both parties. The dissolution and assignment of property; and cost of establishing new residences compound the situation. Once your discussion moves beyond the legal assignment of property, consignment is a family focused venue for securing the greatest value for your property, done in a timely basis and an affordable way to create a new living space while building your new life.
Consignment specialists who are family focused provide tools and knowledge that is valuable throughout the divorce process. Partnering with a consignment specialist through mediation and assignment of property adds an objective voice to an emotional journey. Specifically, a consignment specialist will: