The value in setting up a prenuptial negotiation is that both people can lay out what really matters to them from a financial standpoint.

With various forms of insurance, we prepare ourselves and our families for the worst of circumstances. Prenuptial agreements can also be a helpful tool to prepare people for another life-changing event: divorce or happily staying married. No one plans on getting divorced before they marry, but isn’t it wise to be prepared? If you do not get divorced, it really does not matter anyway.

For parties seeking an alternative route for divorce, mediation is the best option. However, the high price tag associated with mediation can create a roadblock. I recently had the opportunity to meet with Lilliana Real, a Mediator I strongly recommend to my clients and colleagues. We had a candid discussion as to why she is launching this service and why it is so needed in our community.

Q: Can you tell me a little about yourself?

I am a family attorney for the past 9 years and I have been a Supreme Court Certified Family Mediator for the past 5 years, since 2009.

Each winter, I spend a lot of time doing what we call practice management. Before I delve into the components of this, I want to thank you for all the support you have given us this last year. Many things have happened in 2014 -- we have updated our business name, rebranded the firm, launched blogging and social media campaigns, changed registrations, created a new website and changed custodian firms where we hold our clients’ investments.

With these new practices and measures in place, we are certain that 2015 will be our best year yet. We are looking forward to helping you this year and for many after. I’d like to touch on several parts of my practice management for 2015.

Not a month goes by, when I open an industry magazine, such as Investment News or Financial Planning, and find articles asking the same three questions: 1. What is a fiduciary? 2. Who is a fiduciary? and 3. Who claims to be one?  

There is so much internal churn about how we, as investment professionals, call ourselves, present ourselves and where our interests align – brokers, advisors, financial planners and wealth manager. However, the public lacks understanding of these various terms. After all, do you know what all these "professional titles" mean?

Who Is an Advisory?

I was recently consulted for and article in Advisor Solutions. We discusses how to help clients through the transition of divorce. I specifically spoke on why advisors should wait until after a divorce is completed before advising clients. 

Below is an excerpt. Read the entire article here.

When Clients Divorce
How to help clients through the transition By Richard Stolz 

A client has just called to tell you that he or she is getting divorced, but neither spouse has considered the financial implications. 

While purchasing a home during a divorce is possible, it’s generally a difficult process. In our firm, we recommend that you avoid it, and wait to purchase a home after you are divorced with a decree in place. But what if you have to get into a new home during the divorce process?