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You are here: Home / Archives for High-Net Worth

Jon Fields Offers Expert Advice in “Hidden Costs of Divorce” Interview

How do you know if mediation or litigation is right for you? What are some of the ways the needs of affluent families affect the cost and planning process of divorce? What is a Certified Divorce Financial Analyst?

Jon Fields joins Kelli Adams, Financial Counselor, CFP®, EA to answer some of these questions in GW & Wade’s “ask the experts” interview, focusing on the hidden costs of divorce.

“If your balance sheet contains more than a few basic assets—your bank accounts, your home, your car—the cost of your divorce will probably be affected. Stock options, restricted stock, trusts, executive compensation packages, business interests: assets like these require more nuanced negotiations. You’ll want to make sure your lawyer has experience dealing in complex financial instruments.” -Jon Fields

Please click on the link to read the full interview.

Filed Under: Alimony, Divorce, Family Law, Firm News, High-Net Worth, Massachusetts Divorce, Massachusetts Family Law, Mediation Tagged With: Affluent Divorce, Certified Divorce Financial Analyst, complex divorce, Divorce and Finance, financial planning

Lessons in Estate Planning and Privacy from Harper Lee

Harper Lee, legendary and reclusive author of the literary classic, “To Kill a Mockingbird,” passed away in February 2016 at the age of 89. Though Lee fiercely maintained her privacy, she did publish another novel before the end of her life entitled “Go Set a Watchman.” As a result of her literary success, Lee reportedly made $3 million per year in royalties from book sales—just from “To Kill a Mockingbird.” Her estate may be worth an estimated $35 million or more.

What makes Lee’s estate planning a unique case study is, first, that she was not married nor did she have children. Therefore, no apparent, direct heirs exist. However, she did have family, who are still living, including a nephew. Most likely, the estate will be awarded to them. The second part of Lee’s unique and fascinating estate planning is that we don’t know if she set up trusts for her family. Wealthy people often set up trusts for family members, because trusts are kept private. A trust is a secure way to keep one’s finances and who receives the person’s assets after death private. For the author, who was named number four on TIME’s Top 10 Most Reclusive Celebrities list, she would doubtless have wanted to keep her affairs out of the public eye. We have no way of knowing whether Lee got her affairs in order before her death, and her case was certainly one in which not preparing an adequate estate plan would have been against the author’s wishes in life.

According to the American Academy of Estate Planning Attorneys, “A trust is the best way for celebrities and others to maximize their privacy. A will is a public document. Assets titled in the name of the individual are disclosed in a probate proceeding. But, if a trust is funded during lifetime, neither the assets owned by the trust, nor the terms of the trust, become public.” Thus, setting up a trust or trusts would have probably been a suitable course of action for Harper Lee.

At Fields and Dennis LLP, Boston estate planning lawyer Sheryl Dennis is happy to set up trusts for those who want to preserve their privacy, even after they have passed on. As an estate planning lawyer, Sheryl understands that privacy is of vital importance, especially if a person has considerable finances and assets. She is a member of WealthCounsel, ElderCounsel and the Academy of Special Needs Planners. Please contact Sheryl Dennis today if you are looking to set up a trust.

Filed Under: Elder Care, Estate Planning, High-Net Worth, Privacy, Probate Court Tagged With: Celebrity Estate Plans, Estate Planning, Privacy, Probate Court, wills and trusts

Jon Fields to Attend Top Divorce and Finance Event

The AICPA/AAML National Conference on Divorce is an annual event that offers unparalleled opportunities to gain comprehensive insights on the financial aspects of divorce in the company of some of the Country’s top Divorce Attorneys and Chartered Public Accountants. As well as offering the advantages of a forum to network and learn from peers, expert speakers have previously presented on topics as diverse as Intellectual Property, healthcare and issues specifically encountered by women and LGBT couples. Jon Fields will be attending this year’s conference in New Orleans, May 2016. Fields and Dennis LLP looks forward to the insights this event will doubtless bring, as we anticipate returning to our practice with new perspectives and deeper professional insights on some of the most pressing and complex issues that our clients face.

Filed Under: Alimony, Divorce, Family Law, Firm News, High-Net Worth, Investments Tagged With: complex divorce, Divorce, Divorce Assets, Divorce Planning

Choosing a Divorce Lawyer (VIDEO)

Choosing a divorce attorney is a highly personal experience and there are many factors that should influence your decision. Finding a divorce lawyer that you connect with and trust is important, and it is equally essential that they have the capabilities to handle the unique circumstances of your individual situation.

Watch this video to hear Attorney Jon Fields’ advice on finding the right divorce lawyer to handle your case.

Filed Under: Divorce, Family Law, Firm News, High-Net Worth, Massachusetts Divorce, Massachusetts Family Law Tagged With: choosing a divorce lawyer, Divorce, Divorce Attorney, Family Law, High-Net Worth Divorce, legal advice, legal video, Massachusetts Divorce

Divorce and Trust Interests: Demystifying the Legal Landscape for the Practitioner

The interplay between divorce and trust interests may be one of the most vexing for practitioners and mediators.  This primer attempts to synthesize the legal landscape in this area and to demystify the issue so that we may better serve our clients. Read the article by Attorney Jonathan Fields.

Filed Under: Divorce, Family Law, Firm News, High-Net Worth, Insurance, Massachusetts Divorce, Massachusetts Family Law Tagged With: assets, Divorce, Divorce Planning, Family Law, High-Net Worth, Mediation, Trust Interests, trusts

The Tax Responsibilities your Family May Be Overlooking

As the year comes to an end, you may be accessing your financial plan in preparation for the New Year. While tax planning is something most working adults are generally informed about, there are tax obligations that some may not be fully aware of. If you have young children, it could come as a surprise that they may have US tax obligations of their own. If your child has earned income or even has unearned income in their name, they should be filing a Report of Foreign Bank and Financial Accounts or FBAR. Read more.

Filed Under: Family Law, High-Net Worth, Investments Tagged With: assets, Dependents, Estate Planning, FBAR, High-Net Worth, Income, IRS, Kiddie Tax, Tax Planning, taxes

3 Ways to Financially Prepare for Divorce When Emotions are High

Divorce is a highly emotional time and when you are going through such a trying life event, practical matters may be far from your mind. But despite the emotional toll, it is important that you consider financial matters – if not for yourself, for the well-being of your loved ones. You will get through this difficult period, and once you are on the other side, you will surely want to enjoy your new life.

Asset division can make an already emotionally heightened experience even more overwhelming, but if you take it one step at a time, you will get through it and be glad that you didn’t let your finances fall by the wayside in the midst of turmoil.

Here are 3 financial tips to help you through a complex divorce. Read more.

Filed Under: Alimony, Divorce, Family Law, High-Net Worth, Marriage, Massachusetts Divorce, Massachusetts Family Law Tagged With: Alimony, asset division, child support, complex divorce, contentious divorce, Divorce, Divorce Advice, financial planning, taxes

To Litigate, or Not to Litigate, That is the Question

If you are going through a divorce, there are many things to consider. It is a difficult time, emotions are high, and you are confronted with a number of decisions that you may not be in the best state of mind to make. Now, no two divorces will be identical, so while having a support system who has “been there” can certainly be helpful, their situation may be extremely different then yours.

There are a variety of factors that can contribute to a divorce, and depending on how the decision was come upon, you and your ex may be on civil terms, but other times, if the relationship ended badly, communication and compromise may be impossible concepts to wrap your mind around. Because each divorce is different, each course of action is also different. While some couples have relatively simple cases without much contention between spouses, other couples may have more complex divorces that require careful and strategic planning. Read more.

Filed Under: Divorce, Family Law, High-Net Worth, Marriage, Massachusetts Divorce, Massachusetts Family Law Tagged With: Alimony, assets, Boston Divorce Lawyers, child support, Contemporary Marriage, Divorce, Divorce Assets, divorce litigation, Divorce Planning, Infidelity, litigation, Marriage, spousal support

An Introduction to High-Net Worth Estate Planning

Estate planning is an important concern for anyone who desires their affairs be handled according to their wishes after their death.  Planning for high-net worth individuals and families is complex and dependent upon the particular desires of the family.

High-net worth estate planning should be handled carefully, so that your estate, which you’ve worked hard to build, is properly handled and the future of your legacy is secure. Read more.

Filed Under: Estate Planning, Family Law, High-Net Worth Tagged With: assets, Beneficiaries, Estate Planning, Estate Tax, Family Limited Partnerships, High-Net Worth, HNW Estate Plan, Inheritance, Irrevocable Life Insurance Trusts, Qualified Personal Residence Trust, trusts

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Phone: 781.489.6776
Fax: 781.489.6233
80 William Street — Suite 210
Wellesley, MA 02481 USA

Recent Posts

Sheryl J. Dennis Quoted in Second Most Read Article in Massachusetts Lawyers Weekly

January 3, 2023

Attorney Sheryl Dennis was quoted in Massachusetts Lawyer Weekly’s second most read article of the year. The article discusses the feasibility of remote work from the viewpoint of a number of major law firms in the Boston area. If you are in the office, you are much more invested in the firm and the people […]

Fields and Dennis LLP Fundraiser for K9s for Warriors

December 1, 2022

Over the years Fields and Dennis have been proud to sponsor an annual holiday fundraiser for K9s for Warriors. We will be holding another holiday fundraiser through the end of the year. K9s For Warriors is a program to reduce veteran suicide and help our warriors return to a life of dignity and independence. The […]

Here are 4 Ways Divorced Parents Can Make the Holidays Joyful for Their Children – Attorney Vicki L. Shemin’s Article Featured on Divorcemag.com

November 29, 2022

Just because you and your ex-spouse are no longer together doesn’t mean you can’t co-parent peacefully during the holiday season. There are many ways divorced parents can make the holidays memorable for their children. Read the full article on Divorcemag.com https://www.divorcemag.com/blog/here-are-4-ways-divorced-parents-can-make-the-holidays-joyful-for-their-children

Congratulations to Fields and Dennis LLP Firm members who were selected as Top Lawyers for 2022 by Boston Magazine

November 22, 2022

  Fields and Dennis LLP is proud to congratulate Sheryl Dennis, Vicki L. Shemin and Jonathan Fields on being selected as Top Lawyers for 2022 by Boston Magazine. The Boston Magazine Top Lawyers list is extensively peer-reviewed and curated to bring together the top quality attorneys in Boston, making it easier for anyone seeking an […]

Sheryl J. Dennis Quoted in Massachusetts Lawyers Weekly

November 16, 2022

Attorney Sheryl Dennis was quoted in Massachusetts Lawyer Weekly this week. The article discusses the feasibility of remote work from the viewpoint of a number of major law firms in the Boston area. If you are in the office, you are much more invested in the firm and the people around you. It really is […]

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    Recent Blogs

    • Attorney Jon Fields receives the 2022 John Adams Fiske Award
    • Attorneys Sheryl Dennis and Hugh Ferguson quoted in Newsweek
    • Sheryl J. Dennis Quoted in Second Most Read Article in Massachusetts Lawyers Weekly
    • Fields and Dennis LLP Fundraiser for K9s for Warriors
    • Here are 4 Ways Divorced Parents Can Make the Holidays Joyful for Their Children – Attorney Vicki L. Shemin’s Article Featured on Divorcemag.com

    Recent Firm News & Coverage

    • Sheryl J. Dennis Quoted in Second Most Read Article in Massachusetts Lawyers Weekly

    • Fields and Dennis LLP Fundraiser for K9s for Warriors

    • Here are 4 Ways Divorced Parents Can Make the Holidays Joyful for Their Children – Attorney Vicki L. Shemin’s Article Featured on Divorcemag.com

    • Congratulations to Fields and Dennis LLP Firm members who were selected as Top Lawyers for 2022 by Boston Magazine

    • Sheryl J. Dennis Quoted in Massachusetts Lawyers Weekly

    The Boston metro family law, divorce and estate planning attorneys at the law firm of Fields and Dennis LLP are based in the Newton Wellesley area and serve the city of Newton: Auburndale, Chestnut Hill, Newton Centre, Newton Corner, Newton Upper Falls, Newton Lower Falls, Nonantum, Oak Hill, Waban and West Newton and town of Wellesley: Babson Park, Wellesley Hills, Wellesley Square Fields and Dennis also serves many clients in the Greater Boston and Massachusetts region including Ashland, Dover, Holliston, Medfield, Needham, Sherborn, Westwood, and all of Massachusetts. Attorney Jonathan Fields is a recognized authority on bitcoin and divorce

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