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Upon divorce, you and your spouse are selling everything you own to (a) each other, or (b) a third party. The first objective is to determine what is separate property, community property, quasi-community property.
This article discusses relatively simple techniques that can be used to uncover the practice of some business owners of fraudulently reporting less gross receipts than were actually received, thereby reporting less than accurate net income (gross receipts less business expenses equals the net income earned).
Going through a family law case is agonizing emotionally, taxing financially, complicated, confusing, and expensive, regardless of whether you and your spouse are getting along or at each other’s throats, whether you have an attorney (or attorneys) or not, how much education you have, or how much money or how many children you have. It also can be difficult to get accurate and clear information, as it seems everyone has their own agenda in offering you their opinion.
Todays economic climate has impacted rocky marriages in unusual ways. Getting and or keeping jobs, trying to keep afloat in a housing market crash, and the looming uncertainty of the times has put undue pressure on budgets and budget planning for the typical couple and family.
’Everything appears to promise that it will last; but in this world nothing is certain but death and taxes.’ So said Benjamin Franklin. While sometimes marriage also fails to meet the promise it will last, the taxman is eternal.
In the canceled television drama, Alias, one of the characters chases after an ancient formula that promises immortality. In his pursuit he becomes willing to betray his associates, his friends, his wife, and ultimately his own daughter. In the end he obtains his immortality, but his methods land him in a virtual tomb from which there is no escape, where he will spend eternity alive - and alone.
There are many ways in which a Certified Divorce Financial Analyst (CDFA™) can save you money, time and stress when evaluating your family financials to aid in structuring your financial settlement, whether "pre-divorce” or at any time during your divorce process. The following summary will help you understand in greater detail how significant cost savings accrue to your family financial asset picture. Pre-Divorce Planning Cost Savings
This article discusses relatively simple techniques that can be used to uncover the practice of some business owners of fraudulently reporting less gross receipts than were actually received, thereby reporting less than accurate net income (gross receipts less business expenses equals the net income earned).
Real estate investors create a unique situation in the determination of income available for support due to the nature of their business. To understand how to determine their gross income available for support, one needs to understand how the business of real estate investing operates.
Under the Family Code of California, community property is divided between the spouses 50/50. Retirement benefits are a form of employment compensation, like earnings.
The valuation standard is the fair market value which gets rather clouded by the emotions and financial goals of the parties involved in a divorce action. Its further complicated by the nature of the business and what the going market is for that particular type of business.
A law practice has value even apart from its old couch, obsolete library, barely functioning IBM 386, accounts receivable, and whatever work is in progress.
If spousal support is paid to one party by Court order or written agreement, such amounts are taxable income to that party and the amount of such payments are deductible for tax purposes from the income of the paying party.
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.
Most forensic accountants begin their assignments by preparing a list of documents needed. Attorneys sometimes respond to these requests by calling them overburdensome and excessive. This article will explain some of the reasons why those documents are being requested.
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 certain issues that affect the calculation of what is available for spousal and child support that are theoretically unclear. This article will present a few of them, showing the logic behind various positions.

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Joint or sole custody may be awarded based on the best interests of the child and other factors that include 1) the preference of the child, 2) the desire and ability of each parent to allow an open and loving relationship between the child and the other parent, 3) the child's health, safety and welfare, the nature and contact with both parents and 4) the history of alcohol and drug use. Marital misconduct may be considered.

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