Just because someone may have a high net worth, doesn’t always mean they are good with their money or have ‘enough’ to feasibly survive on, in the grand scheme of things. Their expenses, assets, investments, or lack thereof, and whether or not they are really going to be able to support their lifestyle over the term of the owner’s life, all need to be taken into consideration. It’s not just the question of money. It’s everything that surrounds the money questions. So, for anyone with a high net worth who is going into a divorce, what do we need to know to allow a peace of mind over all the critical and unique financial decisions involved?

Lili Vasileff is the president of Wealth Protection Management, a firm that is nationally recognized in providing financial expert planning to protect peoples’ wealth during a divorce. She is also the President of Emeritus of the Board of Directors of the national Association of Divorce Financial Planners and is a fee only Certified Financial Planner™ professional, a Certified Divorce Financial Analyst®, and a Master Analyst in Financial Forensics™ (MAFF) with specialty in Matrimonial Litigation. Lili Vasileff is recognized as a Wealth Protection Expert that works with clients and professionals before, during, and after divorce across the country. One of the specialties she has is working in high networth divorces that have such unique case factors that impact every negotiation.

On this episode of Divorce Dialogues, Lili joins Katherine to discuss some of the biggest mistakes made during high networth divorces and how to overall improve family relationships in the process, while also preserving wealth. She describes some main factors to be aware of when dealing with a high net worth divorce, such as the anchor assets in marital mistakes, money syndrome, considering smart investments, the importance in finding a reliable financial advisor, tax strategies, etc. Listen in for Lili’s tips on how to best navigate a high net worth divorce and the top factors that should not be overlooked.

Topics Covered

What all needs to be considered with a high net worth couple

How important it is for money to be properly managed, to have the lifestyle you’re looking for

What often can happen when people suddenly come into large sums of money

Lili’s view on the lack of financial literacy being one of the main issues in handling money in a divorce

The importance of finding a certified and trustworthy financial advisor

Lili’s roadmap that she always provides her clients

How to carefully weigh the factors of a house being both a financial asset and an emotional asset

The complications behind a couple that has lived on primarily one person’s inherited assets

How a business is factored into a divorce

The importance of having a business evaluation

The main anchor assets in marital mistakes

Lili’s insight on what else to be aware of in high net worth divorces

Connect with Lili Vasileff

Wealth Protection Management: https://wealthprotectionmanagement.com/

Wealth Protection Management on Facebook: https://www.facebook.com/WealthProtectionManagement/

Wealth Protection Management on Youtube: https://www.youtube.com/channel/UCOCdeqUTQeuupEpGntuaD5w

Lili Vasileff On Twitter: https://twitter.com/WealthLili

Lili Vasileff On Instagram: https://www.instagram.com/moneyanddivorce/

Lili Vasileff on LinkedIn: https://www.linkedin.com/in/lilivasileff/

Email: [email protected]

Call (203) 393-7200

Connect with Katherine Miller

The Center for Understanding Conflict: http://understandinginconflict.org/

Miller Law Group: https://westchesterfamilylaw.com/

Katherine on LinkedIn: linkedin.com/in/kemiller1

The New Yorker’s Guide to Collaborative Divorce by Katherine Miller: https://www.amazon.com/New-Yorkers-Guide-Collaborative-Divorce/dp/0692496246

Email: [email protected]

Call (914) 738-7765

Resources

Certified Financial Planner Standards Board (FPSB): https://www.fpsb.org/