In this episode of Saving With Steve, host Steve Sexton is joined by attorney and CPA, Brent Kaspar, who is Founder and Managing Partner of the Northern California family law firm, Kaspar & Lugay, LLP, and Steve Sless, President of The Steven J. Sless Group of Primary Residential Mortgage who is regarded as the “Go-To Housing Wealth Expert.”
We have been receiving more and more requests for a subject matter expert on the topic of divorce. It’s no surprise that divorce rates have skyrocketed in the COVID era. If you are considering divorce, you may have the following questions: What are the steps you need to take? How do you minimize cost? How do you handle taxes during the proceeding and once your divorce is final? Don’t worry, my first guest, Brent Kaspar, is both a CPA and family law attorney whose insight is sought for a wide range of family law cases including child custody, spousal abuse, and pre- and post-nuptial agreements, and high-net-worth divorce cases.
He joins me today to discuss what an individual needs to do to prepare themselves for getting a divorce, how to minimize attorney fees, what needs to be changed the first tax season after a divorce, and how to prevent a divorce from impacting your family business. Brent also provides insight on if you have to move out of your house when filing for and waiting for a divorce to finalize, what the tax implications are if you have to give your spouse half of your IRA, and how to keep property separate if you choose to get remarried.
As you know, many seniors are wondering if they have enough money to last through their retirement and are leery of going into retirement communities, now more than ever, because of COVID. Some seniors can’t even get long-term care insurance due to COVID. Many of these seniors may not realize that their home equity likely represents a large portion of their net worth.
In fact, homeowners aged 62+ saw their collective housing wealth increase. Understanding how to strategically and tax-efficiently incorporate this wealth into a comprehensive retirement income strategy may be the key to protecting and prolonging their nest egg with the funds needed for long-term care.
My second guest, Steve Sless, has nearly 20 years of mortgage industry experience, and has become a leader in his industry by educating people through seminars and videos. He joins me today to talk about the pros and cons of reverse mortgage loans, strategic use of housing wealth in retirement planning, leveraging housing wealth during economic uncertainty, and how a reverse mortgage can fund a more comfortable retirement.
Kaspar & Lugay LLP was founded by Brent Kaspar, Esq. and Arvin Lugay, Esq. Mr. Kaspar is the managing partner of Kaspar & Lugay, LLP.
He is a member of both the California Bar and the California Board of Accountancy. Mr. Kaspar has a unique skillset as both an attorney and Certified Public Accountant which makes his dual expertise a rare and valuable combination for the firm’s clients, including high-net-worth divorce cases.
His command of the law and financial acuity is invaluable for their clients in high-stakes legal matters in all of the areas of practice they serve, and his insight is sought for a wide range of family law cases, including child custody, spousal abuse, and pre- and post-nuptial agreements.
Mr. Kaspar earned his JD from the University of Tulsa School of Law and his Bachelor of Science in Business Administration Accounting from Oklahoma State University.
Kaspar & Lugay, LLP is a family law firm with offices in Corte Madera, CA; Napa, CA; Walnut Creek, CA; and Santa Barbara, CA. They also represent clients in San Francisco, Oakland, Sacramento, Pismo Beach, Contra Costa County, and Los Angeles.
The firm comprises four lawyers, the two partners each gained valuable experience with some of the largest international law firms in the world. Partners Brent Kaspar and Arvin Lugay joined forces to provide the high-quality legal representation of a big firm, with the agility and client-centered focus that only a small firm can provide.
Steve Sless has nearly 20 years of mortgage industry experience, including 13 years devoted to reverse mortgages.
He is proud to have been named a Reverse Mortgage Industry “Game Changer” by Yahoo Finance, and to be one of the only mortgage professionals to have earned the CLTC®: Certified Long-Term Care designation.
Steve takes pride in helping homeowners and his team members every day, while leading the dedicated reverse mortgage division of Primary Residential Mortgage, Inc. (PRMI) — a multibillion-dollar operation founded in 1998 that is poised to become a top reverse mortgage lender nationwide.
Steve also loves to speak out about reverse mortgage strategies as a conference keynote speaker for NRMLA (the national voice of the reverse mortgage industry), at seminars and learning workshops, in videos, and in media interviews.
His passion is educating and empowering homeowners 55+ and their trusted advisors on how the strategic and proactive use of housing wealth with a reverse mortgage can offer advanced retirement income strategies, protecting and preserving a retirement portfolio.
Steve’s goal is to dispel myths and common misperceptions about reverse mortgages and show his clients and partners how to achieve peace of mind by helping them to secure the retirement they deserve.