CPNV Admin

Authored by: Jordan P. Egert, CPA, CFE, CDFA ® and Abbie M. Niehoff, MPS, CFP®, CDFA®

The SECURE 2.0 Act of 2022 (SECURE 2.0) was included as part of the Consolidated Appropriations Act, 2023 passed on December 23, 2022. This act primarily focuses on the substantial improvement to retirement savings options – expanding on the initial SECURE Act passed in 2019. The Act contains 92 new provisions and many of them can impact divorcing parties financial decisions, both short and long term. Without an understanding of the full bill many spouses could end up agreeing to options that may not be as equitable, fair, or meaningful.

In reviewing the SECURE 2.0, we have identified several key issues to be aware of when working through divorce proceedings. These items are not all encompassing, but are several to be familiar with.

1. Required Minimum Distribution (RMD) age. Beginning in 2023, Secure 2.0 Act increased the RMD age to 73 (from previous age of 72). Beginning in 2030 the RMD age will increase again to age.
   
2. Designated Roth Accounts Starting in 2024, employer retirement plan Roth accounts (401k or 403b) will no longer be subject to RMDs. This provides individuals with a longer window before being required to take distributions from tax-advantaged retirement accounts, allowing for potential tax free growth of retirement savings.
   
3. Catch-up Retirement Contributions.
   1. Currently, those aged 50 and above can contribute an additional $7,500 as a catch-up contribution to their employer-sponsored retirement plans. Under the Secure 2.0 Act, catch-up contribution limits will be indexed for inflation and allow for continuously increasing. Furthermore, starting on January 1, 2025, individuals between the ages of 60 and 63 will be able to make catch-up contributions of either $10,000 annually or 150% of the standard catch-up contribution limit for 2024. This provision would enable individuals in that age bracket to boost their retirement savings beyond the standard contribution limits. This provides an excellent opportunity for spouses to aggressively fund up and/or repair their nest egg for retirement.
      
   2. Starting in 2024, individuals making over $145,000 per year are only allowed to make catch-up contributions as an after-tax Roth contribution.
      
4. Matching Roth Contributions Employers now have the option to match Roth contributions, providing individuals with the opportunity for tax-free savings and growth during retirement. Previously, employers were only allowed to match pre-tax contributions.
   
5. 529 College Savings Accounts Starting in 2024 beneficiaries of 529 college savings accounts are permitted to rollover $35,000 over their lifetime to a Roth IRA in their own name. There are a few specifics worth mentioning when it comes to this change: (1) the 529 must have been open for 15 years, (2) the rollover is subject to the Roth IRA annual contribution limits which is currently $6,500, (3) contributions made in the last 5 years, including the corresponding earnings, and not eligible for the tax-free transfer, and (4) the individual must have earnings at minimum equal to the amount of the rollover.  This is a great planning tool as once rolled into a Roth IRA it can potentially be distributed tax free, even before retirement age.

Careful attention to current and pending regulation impacting retirement assets is imperative, as they can materially change expected retirement values, division of the marital estate, support considerations, and future available resources. Assumptions and projections must be adjusted accordingly when evaluating options following the changes enacted by Secure 2.0. Individuals now have the opportunity to grow more tax-free retirement, tax-deferred retirement, and utilized funds in a more tax efficient manner then previously availed. Overall, the changes brought about by Secure 2.0 present greater opportunities for individuals to prepare for and enter into retirement. 

Jordan P. Egert, CPA, CFE, CDFA ® is a collaborative financial neutral and expert, at Councilor, Buchanan & Mitchell servicing the D.C., Virginia, and Maryland regions and beyond. His expertise lies in assisting attorneys, spouses, and other divorce related professionals make well- informed financial decisions that impact today, tomorrow, and beyond.

Abbie M. Niehoff, MPS, CFP®, CDFA®  is a collaborative financial neutral and expert at Councilor, Buchanan & Mitchell servicing the D.C., Virginia, and Maryland regions. Her specialty lies in assisting individuals, couples, attorneys, and other divorce related professionals navigate the complex financial implications of divorce. She helps educate and empower her clients to make well informed decisions and achieve mutually agreeable settlements during the divorce process.

Debunking the myth that Collaborative Divorces are More Expensive than a traditional divorce

When it comes to divorce, many people assume that going to court and hiring a litigator is the only way to go. However, there is another option: collaborative divorce. Unfortunately, some people believe that collaborative divorce is more expensive than litigation. This is simply not true. Here's why.

1. No court fees

One of the biggest reasons that collaborative divorce can be less expensive than litigation is that there are no court fees. In a litigated divorce, the parties are required to pay various court fees, which can add up quickly. These fees can include filing fees, court reporter fees, and other expenses. With collaborative divorce, the parties are working together to reach a settlement, so there is no need to go to court and incur these costs.

2. More efficient process

Another reason that collaborative divorce can be less expensive than litigation is that it can be a more efficient process. In a litigated divorce, the parties are required to follow the court's schedule and timeline, which can be lengthy and time-consuming. With collaborative divorce, the parties work together to negotiate a settlement, which can be done on their own timeline. This can help to speed up the process and ultimately reduce the overall cost.

3. Reduced legal fees

While there are some expenses associated with collaborative divorce, such as the cost of hiring a collaborative lawyer, these costs are often lower than the cost of hiring a litigator. This is because the process is less contentious and less time-consuming, which can result in lower legal fees. Additionally, in a collaborative divorce, the parties are encouraged to work together to find solutions, which can help to reduce the amount of time their lawyers need to spend on the case.

4. Focus on problem-solving

Collaborative divorce also puts a greater focus on problem-solving than litigation does. In a litigated divorce, the focus is often on winning at all costs, which can lead to lengthy court battles and higher costs. In a collaborative divorce, the focus is on finding solutions that work for both parties, which can help to reduce the overall cost of the process.

In summary, collaborative divorce is not more expensive than litigation. In fact, it can often be less expensive due to reduced court fees, a more efficient process, reduced legal fees, and a focus on problem-solving. If you're considering divorce, we encourage you to explore the option of collaborative divorce and speak with a collaborative lawyer to learn more about how this process can work for you.

Authored by Sara Schuler, Esq.

Collaborative Divorce is an excellent process for most people going through a divorce, but there are things you should know before starting. The Collaborative Process utilizes a team-based approach which focuses on what is best for the couple or family as a whole.  In a traditional divorce, whether it be by mediation, traditional settlement negotiations, or litigation, the focus can be on trying to obtain as much as possible in your “column” without focusing on the bigger picture of what would be the best solution to benefit the entire family.

What you should know about Collaborative Divorce before you start:

1. The Collaborative Divorce Process is guided by statute in Virginia, specifically, Virginia Code Section 20-168 (Uniform Collaborative Law Act), so there are specific rules that the parties and professionals need to follow.
2. You enter into a binding agreement called the “Collaborative Participation Agreement”, which expresses the parties’ intention to resolve the divorce matter without litigation, and sets forth the rules for the Collaborative Process.
3. All communications throughout the Collaborative Process are confidential, unless otherwise agreed to by the parties (or unless a specific exception in the statute applies).
4. Both parties agree in the Collaborative Participation Agreement that they will voluntarily provide full disclosure of all relevant information, without the need to go through the formal discovery process, as if in litigation.
5. You have the ultimate right to confidentiality for anything that you disclose to your attorney.  However, if you exercise your right to confidentiality regarding something that is relevant to the process, and the attorney feels that it should be disclosed, the attorney will not disclose that information, but will need to withdraw as your counsel.
6. If either attorney discovers that there has been a history of family abuse, they will not begin or continue a Collaborative case unless they believe that the safety of the party can be adequately protected during the process.
7. The Collaborative Process may be terminated at any time by either party, upon reasonable notice, as outlined in the Uniform Collaborative Law Act.
8. The Collaborative Process is also terminated upon the filing of a pleading with a court related to the matters set to be resolved between the parties.
9. Your Collaborative Lawyer may not represent you in litigation if the Collaborative Process terminates.  However, they may represent you in the event that there is an emergency matter that needs to be litigated between the parties, and another lawyer is not immediately available for either or both parties.

Fairfax Divorce Lawyer Sara Leiner Schuler is the past President of the Collaborative Professionals of Northern Virginia (CPNV), and represents clients in the Collaborative Divorce process, a voluntary team-based approach in which a couple chooses to divorce without contested litigation to best meet their respective individual needs and the needs of any minor children.  She is also a fellow of the American Academy of Matrimonial Lawyers (AAML), and practices all aspects of family law in the Northern Virginia area, including Divorce, Child Custody, Child Support, Spousal Support and Alimony, Prenuptial Agreements, Step-Parent Adoptions (including Same-Sex Step-Parent Adoptions), Uncontested Divorces, and Enforcement Issues.

Authored by Patrice Garver, PhD

The Collaborative Professionals of Northern Virginia conducted trainings in January and February 2023 regarding the Parenting Plan within the legal perspective and the Parenting Plan within the mental health mindset. As a collaborative team, we are fortunate to pull from all disciplines as we finalize a Parenting Plan. The following are some of the takeaways that I learned from both trainings and how team feedback can only strengthen the Parenting Plan document.

The Parenting Plan within the Legal Lens:

The Parenting Plan, although this is not a legal document, does have language and areas that address the legal components and obligations of co-parenting. And while the language of the Parenting Plan cannot deter parents from eventually going to court, it is beneficial to turn to the attorneys for their feedback in terms of guidelines for specific wording, red flags, or refining language, perhaps, to provide more clarity.

As a mental health coach, when the co-parenting discussions of all components of the Parenting Plan is completed, the parents and I review a draft to make sure that the agreements in the language are consistent with what was expressed. I also emphasize it is still a draft. It will be sent out to the collaborative team and the attorneys to read it over and provide additional feedback regarding clarity and the legal perspective. The attorneys’ input helps to refine the language and content. The beauty of the collaborative process is that we can and should have this open dialogue to continue the interest and needs of the family system within the plan but also to provide language that will present more clarity within legal parameters. I am fortunate to work with many attorneys that have given me suggestions as well as are open to hear my views as to why a paragraph was inserted into a Parenting Plan.

Parenting Plans are written to strengthen co-parenting with the purpose and goal to provide understandable parameters and rules as they share the children across the two-home family. And although there have been times that paragraphs were written that concern attorneys, it is important to look at the whole context of a topic and what is important to the parents or family. An example of this is when parents with an adult child agree to provide financial and, perhaps, mental health supports through college and the living circumstances. There could be concerns from the attorney(s) to obligate the parents when they do not need to be obligated. This is the time when conversation and context of a particular situation is important, to understand the background and intent of the parents.

Important Goals and Purpose of the Parenting Plan:

As much as possible, Parenting Plans should be written in the context of meeting the needs of “parallel co-parenting”. (Parallel co-parenting is a method of shared parenting in which parents interact as little as possible with each other while maintaining their relationships with their children. The majority of the parent communication is through writing and structured protocols.)  

The Parenting Plan should be written with language that has enforceable components and is clear, complete, and particularly detailed. This does not, in any way, keep parents from being flexible upon mutual agreement, to change the parameters of the schedule, and other agreements. As much as possible, it is better to be detailed, and the language is more specific rather than vague or ambiguous. There are parents that have the mindset that “we’re going to work it out as needed”, and they don’t need to stipulate details such as particular time and day of transitions in a general schedule or a holiday. Indeed, they can work it out until they don't, or there is a conflict, and/or there is a disagreement.

Another important point that was communicated through our February Member Meeting speaker, Karen Bonnell (an established author and co-parenting specialist), was that a Parenting Plan provides “the floor” for parents to stand when things are wobbly and/or conflicted. In contrast, the Parenting Plan does not establish a ceiling. Although Karen related that research frequently reveals that co-parenting can improve over time, it might also regress with particular situations like the introduction of a significant other or the remarriage of one of the parents. This is where the co-parenting process and the language in the plan should address detailed protocols and address parenting skills.

The Parenting Plan is a document with the foundation of its purpose and goal to look at the family system and to guide healthy co-parenting across a two-home family. Also, even the best and most extensively written Parenting Plan will not deter parents from high-level conflict if that is their emotional and psychological commitment, and consequently, the family might end up in court.

Over the years, I have written dozens of Parenting Plans, many outside the collaborative process as well as within the process. My format and structure have changed and evolved to hopefully more fully meet the needs of each family. Writing a Parenting Plan as part of a collaborative team has always provided for me the extra feedback, the extra input, and the extra pair of eyes to strengthen this document. With feedback from the attorneys to provide more clarity but also other professionals such as a child specialist to include the voice of the children/teens as the parents discuss, sticky subjects, such as transition time, change in access schedules, and communication protocols are more finely defined and determined.

As a member of the collaborative team and a mental health coach, I am appreciative that I have the feedback and guidance of my team members to enhance the Parenting Plan and meet the particular needs of each family.

Authored by Jenna Hayba, Esq.

If you are looking into the collaborative divorce process, chances are that you have also researched other alternative dispute resolution methods, including mediation. You may be wondering what the difference is between these two methods, and which one is best for you and your family.

What is Mediation?

Mediation is a process whereby a divorcing couple, who may or may not be represented by attorneys, sit down with a mediator in an effort to try to reach an amicable resolution of their divorce. In the mediation process, the mediator is a neutral third-party who does not advocate for either spouse. If either spouse is represented by an attorney, that attorney will advocate for his or her client during the mediation, or in between mediation sessions.

What is Collaborative Divorce?

Collaborative divorce is an alternate method of dispute resolution in which the couple engages a team of professionals to assist in reaching a settlement. Each spouse is represented by an attorney. That attorney is both an advocate for his or her client, but also part of the team working together to reach a resolution that best meets the goals and interests of both spouses.

What are the Major Differences Between Mediation and Collaborative Divorce?

While there are a number of differences between mediation and collaborative divorce, there are some clear distinctions that should be noted. First, if mediation is unsuccessful, your attorney can continue to represent you as you move forward in your case. In a collaborative divorce, if the process is unsuccessful, then your attorney cannot represent you moving forward. In addition, mediation maintains some of the adversarial nature of a traditional, litigated divorce. In a collaborative divorce, though you and your spouse may still have divergent interests in some respects, the collaborative team consisting of your attorneys and other professionals are working together with you and your spouse to reach a compromise that works for your family.

Ultimately, the decision of whether the collaborative divorce process or an alternate dispute resolution method is best for you is going to depend on your particular circumstances and goals. These should be discussed in depth with collaboratively trained attorneys, mental health professionals and financial neutrals with whom you are working as you navigate the difficult divorce process.

If you are looking into the collaborative divorce process, chances are that you have also researched other alternative dispute resolution methods, including mediation. You may be wondering what the difference is between these two methods, and which one is best for you and your family.

What is Mediation?

Mediation is a process whereby a divorcing couple, who may or may not be represented by attorneys, sit down with a mediator in an effort to try to reach an amicable resolution of their divorce. In the mediation process, the mediator is a neutral third-party who does not advocate for either spouse. If either spouse is represented by an attorney, that attorney will advocate for his or her client during the mediation, or in between mediation sessions.

What is Collaborative Divorce?

Collaborative divorce is an alternate method of dispute resolution in which the couple engages a team of professionals to assist in reaching a settlement. Each spouse is represented by an attorney. That attorney is both an advocate for his or her client, but also part of the team working together to reach a resolution that best meets the goals and interests of both spouses.

What are the Major Differences Between Mediation and Collaborative Divorce?

While there are a number of differences between mediation and collaborative divorce, there are some clear distinctions that should be noted. First, if mediation is unsuccessful, your attorney can continue to represent you as you move forward in your case. In a collaborative divorce, if the process is unsuccessful, then your attorney cannot represent you moving forward. In addition, mediation maintains some of the adversarial nature of a traditional, litigated divorce. In a collaborative divorce, though you and your spouse may still have divergent interests in some respects, the collaborative team consisting of your attorneys and other professionals are working together with you and your spouse to reach a compromise that works for your family.

Ultimately, the decision of whether the collaborative divorce process or an alternate dispute resolution method is best for you is going to depend on your particular circumstances and goals.  These should be discussed in depth with collaboratively trained attorneys, mental health professionals and financial neutrals with whom you are working as you navigate the difficult divorce process.

Teaser: 

If you are looking into the collaborative divorce process, chances are that you have also researched other alternative dispute resolution methods, including mediation. You may be wondering what the difference is between these two methods, and which one is best for you and your family.

Authored by Stephanie Smith, Esq.

For some families with children experiencing divorce, mental health challenges create concerns about parenting capacity, and sometimes require implementing safeguards in order to provide frequent and continuing contact with a parent.  Some diagnoses that may fall under this topic are Substance Abuse/Addiction, Bipolar Disorder, and Major Depressive Disorder.

When minor children are involved, the Collaborative Divorce Process includes the development of a Parenting Plan. The Parenting Plan is prepared by a mental health professional who serves on the Collaborative Team as a Coach.  A Coach offers ongoing support to the parties throughout the Process, including on topics relating to co-parenting.

In addition, the Collaborative Team may include another mental health professional serving as a Child Specialist. A Child Specialist is a neutral team member who meets with the parents and the children, and then reports back to the Team with feedback on the children’s development, needs, and preferences (if age appropriate). This feedback helps the parents and their Team develop a well-informed and long lasting Parenting Plan.   

When there are mental health concerns, the Coach and Child Specialist will help the team specifically address the symptoms or behaviors of a parent’s mental illness so that a child or children can maintain a relationship and connection with the parent. In these circumstances, the Coach or Child Specialist may be tasked with building visitation transition stages and/or developing safety protocols, such as monitoring and intervention triggers.

Mental health concerns frequently involve feelings of distrust and uncertainty amongst the parents. To help address this, the Collaborative Team’s mental health professionals can provide neutral and informative education about various mental health diagnoses impacting their family, and help correct any misconceptions.  Moreover, the Collaborative Divorce Process requires full disclosures and transparency, and ensures that the parents have a Team to return to in the future if new or different challenges arise down the road.

Although mental health concerns will create added stress and tension for a family working to develop a plan for their children, the Collaborative Divorce Process provides parents with ample resources, a safe space, and supportive Team who can facilitate the development of a Parenting Plan that focuses solely on meeting the children’s well-being.

Authored by Alice Ahearn, Esq.

The Modern Divorce, a blog series, looks at all aspects and considerations of the Collaborative Divorce Process. This is the second post of a multi-part series.

There’s an old saying that goes: “Why are divorces so expensive? Because they’re worth it”.

While some old sayings still ring true today, many represent an antiquated way of thinking.

As a family law attorney, I am often frustrated for my clients about how expensive the divorce process can be, especially since it is one that will be utilized by more than fifty percent of married Virginians during their lifetimes. The cost for a divorce varies widely depending on where you live and how you choose to resolve your marital difficulties. However, once a complicated and contentious case moves to litigation, the cost can often reach six figures, regardless of whether it resolves in or out of court.

Collaborative Divorce, however, can help streamline costs. Yes, you read that correctly – even with hiring additional professionals to assist during the process, you can save money.

In Collaborative Divorce, the parties and their attorneys work with one financial professional, called a financial neutral, who gathers information from each spouse. The financial neutral works on family and individual budgets as well as cash-flow and asset division options with the collaborative team. This financial neutral can help guide both parties to financial security, an often-stated shared goal in a Collaborative Divorce. The neutral can also help the parties figure out how the same income that once supported one household will now support two households.

A Collaborative Divorce is a way to discuss the financial realities of a divorce without the winning/losing dynamic of traditional process. Part of the collaborative process is a contractual agreement between the parties to keep the financial status-quo during negotiations, allowing both parties to negotiate on an even playing field and often allowing the less financially-sophisticated spouse time to learn about the family’s income and asset portfolio.

The collaborative process is intended to help divorcing spouses see where their interests align rather than exacerbating the underlying divisions. When the goal is to work together to identify solutions and solve problems, both financial and custodial, the discussions are more fruitful and end in fewer stalemates or nasty fights then the traditional process of attorneys sending letters identifying positions back and forth and accepting or rejecting proposals.

Working together is always less expensive than working against one another.

For more information on the Collaborative Divorce Process, contact Alice Ahearn @ aahearn@thegellerlawgroup.com

Authored by Christine Hissong, Esq.

Once the thought of separation and divorce enters your mind, your second thought should be about process.  It is never too soon for you and your spouse to seek information about options.  When you understand your options, you are in a better position to make informed decisions about how to move forward.

You have researched and read about the Collaborative Process, and you understand that it benefits both parties and is a particularly beneficial process for the children of divorcing parents.  You would like to engage in the Collaborative Process, but how do you get your spouse on board?  Meet with a Collaborative attorney and ask for resources that you can share with your spouse.  Think about what is important to them. 

If your spouse values privacy, let them know that the Collaborative Process is private.  Your confidential discussions during the Collaborative Process will be had in the comfort of your attorney’s office, and you will never step foot in a courtroom. 

If your spouse is financially frugal, explain to them that the Collaborative Process is cost effective, and you will both have more control over your resources.  Let them know that you have the option in the Collaborative Process to work with a Collaboratively trained financial neutral to put together your financial data and your financial picture, present and future, which facilitates the option generating work that we do.  You also have the option of working with divorce coaches and child specialists to help develop your parenting plan.  Working with these experts to accomplish these tasks, instead of having attorneys doing this work, saves money and also helps to move you to resolution more quickly.  And, perhaps the most significant financial benefit of engaging in the Collaborative Process is that you will not pay the exorbitant cost of litigation.

If your spouse wants security and stability while working on a resolution, assure them that your Collaborative attorneys commit, as do the both of you, not to strategize against or take advantage of the other, but to be engage with integrity and respect and to share all information which is important to the Collaborative Process. 

These are only some of the many benefits of the Collaborative Process that you can explain to your spouse to help them understand the value of using the Collaborative Process.  If you would like to learn more about how to share the benefits of the Collaborative Process with your spouse, reach out to one of our Collaboratively trained attorneys, financial neutrals, or divorce coaches for more information. 

Authored by David Ginsberg, Esq.

The Collaborative Process provides a structure in which spouses/parents can build a professional team to address the specific issues related to your family and design a settlement agreement that is tailored specifically for your family.

The professional team can help you address financial and emotional issues arising from the relationship, not just the legal issues.  By addressing all aspects of a separation, divorce, or other family related issue, the transition to the next phase of your life is likely to be easier to face and to go more smoothly.

Furthermore, by putting the effort into addressing the legal, financial, and emotional aspects of the family issues that have arisen, your agreement can address them in a practical and comprehensive manner.  The result is an agreement that is closely tailored to your family and one that addresses not only the current issues, but also looks forward and addresses the issues that you anticipate will arise in the future.

The benefit of a comprehensive and forward-looking agreement generated in a process that ensures that both parties understand the basis for its terms is that parties are more likely to comply with the agreement and they are less likely to try to change it.  If a change needs to be made, you already have an established team and process in place to help you navigate the new sitatuation.

The short-term benefit is that an agreement that truly addresses the needs of your family will be practical and effective.  This will reduce the conflicts and friction between former spouses, and reduce confusion and uncertainty for your children.  The long-term benefit is that spouses/parents are less likely to return to seek modifications and the reduced conflict often leads to a better relationship between parents, and that turns into a greater ability to co-parent.

Authored by Abbie Niehoff, MPS, CFP®, CDFA®

Market volatility is often unsettling. It can be even more unsettling when going through a divorce. However, there are several ways to take advantage of down markets for settlement purposes in the divorce process. These include (1) Roth IRA conversions, (2) tax-loss harvesting, and (3) investing excess cash.

1. Roth Conversions. Two side-effects of volatility include a potential, temporary decline in one’s taxable income and tax rate, and a potential decline in one’s retirement asset value. In such periods, one should consider taking advantage of such decreases by considering converting pre-tax traditional retirement assets to after-tax ‘Roth’ retirement assets. Such conversion will generally result in one paying tax on the converted amount today, instead of years down the line when one’s tax bracket may creep back up. As markets and asset values recover, this benefit is even further compounded.  

When considering, one should consider their current and future tax rates, the timeframe before retirement distributions may be needed, market volatility, and beneficiary concerns/estate taxes. You should have a conversation with a Certified Divorce Financial Analyst ® to determine if now is a good time to consider such conversion.  

1. Tax-Loss Harvesting. Sometimes an investment that has lost money can still have a silver lining. The strategy one may implement to take advantage of such loss is known as tax-loss harvesting – it involves selling investments that decreased in value relative to their cost basis, replacing them with reasonably similar (or different) investments, and then offsetting realized investment gains with those losses. In effect, a “tax asset” is created. The losses can be used to offset investment gains and can offset up to $3,000 of income (if married filing jointly or single) or $1,500 (if married filing separate), unused losses can be carried forward indefinitely. The result is a reduction in your tax burden while still making your money work for you. When working with divorcing spouses, all parties should consider the tax asset (and liabilities) created by investments and capital assets.
2. Investing Excess Cash. Investments are cheaper when markets are down. Divorcing couples can take advantage of this to set themselves up for brighter horizons once assets are divided. When there is excess cash in a down market, it can be beneficial to take advantage of the decreased cost of investments. When the market grows, investments will follow.

Abbie Niehoff, MPS, CFP®, CDFA® is a collaborative financial neutral and expert, Councilor, Buchanan & Mitchell servicing the D.C., Virginia, and Maryland regions and beyond. Her expertise lies in assisting attorneys, spouses, and other divorce related professionals make well- informed financial decisions that impact today, tomorrow, and beyond.

Authored by Jordan Egert, CPA, CFE, CDFA™