PaperCity Magazine

PaperCity Dallas September 2022

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These questions not only impact those getting the divorce but can also affect business partners. "At Calabrese Budner, we guide our clients through high-stakes divorces involving businesses of all kinds, from legal and medical practices to family- owned businesses," Calabrese says. "Our goal is to maximize value for our clients in whatever way we can." Additionally, when a business is at issue, clients need representation that effectively navigates issues related to executive compensation, equity, deferred compensation, and other issues related to their businesses. What does my financial future look like? Often with a Gray Divorce, lifestyle and retirement trajectories can be impacted due to the division of finances. How much money do you actually need to live on? Will your standard of living change? Is one spouse entitled to spousal maintenance, alimony, or some other post-divorce financial support? What about health insurance, social security and life insurance policies? Calabrese Budner helps clients understand how their divorce is going to impact their financial future, often by involving financial advisors who run long-term cash need projections based on possible settlement options prior to inking any deals. Inheritance. What's at stake? Family inheritance, whether it's before or during the marriage, is often a hot topic with the Gray Divorce. Are these funds considered separate property, or are they added into the mix and fair game when it comes to dividing property in connection with divorce? Budner says, "A high percentage of our Gray Divorce clients' cases involve characterization and division of an inheritance. Inheritances that are kept separate can often be protected. Those spent on the family to pay living expenses or, say, to improve the marital residence, may be harder to claim in the divorce." Calabrese Budner involves tracing experts as needed to aid clients with protecting their separate property inheritances. A r e t h e r e a n y k i d considerations in a Gray Divorce? Most Gray Divorce involve kids who are out of the home, but it doesn't mean they're not impacted or that there are no financial considerations. Parents are still often providing their college-aged kids' financial needs, and weddings may be around the corner. Although a court cannot order a parent to put a child through college or throw their wedding, "most of our clients over 50 tackle those issues in their divorces as they are real, immediate needs for both spouses," Calabrese says. Budner adds, "Divorce can be a highly emotional event for adult children." Having family lawyers who handle the situation with an emotionally intelligent approach is crucial. Calabrese Budner's Emotionally Intelligent Divorce services looks at your divorce from every angle. "The goal is to have the best chance at success on Divorce Day 2," says Calabrese. When it's said and done, Calabrese Budner strives to ensure they have addressed all of their client's financial and emotional needs in their Gray Divorce. For more on Gray Divorce, check out Calabrese Budner 5944 Luther Lane #875 Dallas, TX 75225 214.939.3000 Carla Calabrese Lee Budner Providing for college age kids is often a factor in the Grey Divorce. Navigating a business valuation is one of the more complicated issues in divorcing after age 50.

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