Don’t Overlook Important Assets in Your Divorce

Question My husband and I have drawn up a list of what we own and we have tentatively agreed on how to split everything. I’m afraid we might have missed listing something. Can you help? Answer As a financial divorce consultant, I often review final property settlements to determine additional tax and financial considerations that should be addressed. Here...

The Benefits of Being Married Ten Years

Question My nine-year marriage has been rocky for quite some time, and my husband and I periodically talk about divorce. A friend told me I should stick it out a while longer since there are benefits to being married ten years or longer. What are those benefits? Answer In some states, such as California, in a marriage of ten years or longer the court retains he...

Unreported Income and Hidden Assets

Unreported Income and Hidden Assets

Unreported income and hidden assets are often alleged in divorce proceedings, with the spouse who is not running the business claiming that unreported income should increase both the spousal support award and the valuation of the family business. In civil litigation, it is often a partner or shareholder that is alleging that someone in his business is hiding...

Common Errors in Business Valuations

Common Errors in Business Valuations

Business valuations are prepared by a variety of professionals, including business appraisers, business brokers, financial analysts, certified public accountants and economists. On occasion, the background of the evaluator preparing the valuation may predispose that individual to serious errors in the valuation of the business. This article will explore some of...

How CPAs Analyze Financial Statements in Dissolution Cases

What do forensic accountants look for when they review financial statements of a business provided to them by counsel? What are the signs that there are irregularities taking place? What are the typical types of financial statements? There are three standards and three types of financial statements. The three standards are audits, reviews and compilations. The...