Welcome to DTP: Beverly Hills, CA
PLEASE NOTE: THIS MEETING IS IN PERSON
(There will be a light breakfast and networking from 8-8:30)
Welcome to the Divorce Transition Professionals (DTP).
DTP was founded in 2017. Our primary Mission Statement that still holds true today is:
Making Divorce Just a Little Bit Easier™
We believe that this can be accomplished by bringing together amazing
professionals all of whom have expertise in the divorce landscape and all of
whom understand what it means to collaborate.
At each chapter meeting we bring you a top-notch speaker or program,
providing on-going education, and an opportunity to network and
collaborate with some of the best divorce professionals in your community.
Our meetings are typically an hour. We respect that you are a busy
professional and are sure to provide a compelling, productive meeting, the
ultimate results of which will meet our goal of supporting folks as they go
through divorce and in growing your business, concurrently.
This event is completely free to all FIRST-TIME attendees. It is an
opportunity to learn more about the Divorce Transition Professionals. If
you are a professional with divorce expertise, please check us out.
There is nothing like DTP!
This Month's Program
Phil Wolfstein
Strategic exit planning for business owners
navigating the complexities of divorce
Strategic Exit Timing and Divorce:
- Integration of Divorce Timing with Business Exit Planning; The importance of aligning the timing of a business sale with the divorce process. An untimely sale could lead to unfavorable division of assets or impact the valuation negatively.
- Impact on Valuation; Discuss how divorce proceedings can affect a business's perceived value, stressing the need for owners to consider the implications of divorce on the timing of their exit. This includes understanding how the divorce might publicize financial information or create uncertainty that affects buyer interest.
- Legal and Financial Coordination; The necessity of coordinating with legal and financial advisors to ensure that the timing of the sale maximizes the financial outcomes for both the divorce settlement and the business exit.
Financial Preparation and Transparency:
- Accurate and Transparent Financial Disclosure; The critical role of maintaining accurate and transparent financial records. In the context of a divorce, this becomes even more essential as financial disclosures can significantly impact both the divorce settlement and the business valuation.
- Recasting Financials; Explain the process of recasting financial statements to accurately reflect the business's profitability and value, especially with regards to any personal expenses run through the business. This step is crucial for achieving a fair valuation and equitable distribution in the divorce.
- Independent Business Valuation (BOV) ; The importance of an independent business valuation as a tool to mitigate disputes over business value in the divorce process, ensuring both parties have a clear, unbiased understanding of the business's worth.
Clear Exit Goals and a Tailored Exit Strategy
- Defining Exit Objectives; The importance of business owners clearly defining their exit objectives, especially in the light of a divorce. Objectives can include financial goals, legacy considerations, and future involvement in the business
- Developing a Tailored Exit Strategy; Development a tailored exit strategy that accounts for the unique challenges posed by divorce. This includes considerations for buy-sell agreements, successor planning, and the division of business assets.
- Protecting the Business’s Future; Strategies to protect the business's future during and after the divorce, such as agreements on how the ex-spouse can claim their share (e.g., cash payout, stock options) without disrupting business operations.
Phil represents business buyers and sellers in high level negotiations, brokering transactions from less than $100,000, to greater than $5,000,000. I help business owners sell their business by finding and matching them with qualified buyers. I have screened buyers for their ability to qualify to purchase a business and I help buyers find and buy a business that suits their interests and finances. My experience gives me an advantage in estimating the market value of a business.
A successful closing, with both seller and buyer satisfied, is always the goal, but even after the sale I will continue to assist my clients with any and all of their investment and business needs.
DTP Beverly Hills, CA Chapter Leader
Charles Hamilton
Charles is a Financial Advisor. He works with career executives and their families on their comprehensive financial planning needs; helping with divorce and goals like retirement, college planning, general investing, risk management and tax mitigation. Charles also works with closely held business owners in critical areas such as profit sharing and executive compensation as well as rank and file benefits like 401(k) planning and group insurance.
Charles is a CERTIFIED FINANCIAL PLANNER™ professional and holds his Series 7 and 6 and 63 securities licenses.
He is a graduate of California State University at Long Beach with a BA in Film Production. Before moving into the financial services industry, he worked in the post production sector of the entertainment industry for 20 years.
Charles is a consummate networker and connector. He has a strong desire to take his skillset in a philanthropic direction, serving on several boards in order to build deeper relationships and better serve his community.
Charles lives in the Montrose area of Glendale with his 17 year old daughter.
DTP President & Founder
Neil Palache
The Wealth Creator Company For Women
Phone: (818) 606-7327
eMail: neil@thewealthcreatorcompany.com
Neil Palache is dedicated to empowering women as is shown by his involvement in many community and business organizations such as the National Association of Women Business Owners Ventura County, Women’s Economic Ventures and the International Women’s Festivals Santa Barbara. He has also started several groups such as the Money Mastermind for Women™ and the Divorce Transition Professionals™. Neil has been married to Stacie since 1987, has three beautiful children and lives and works in Westlake Village, California.