There are four widely recognized methods of calculating income in family law cases. These four methods have been developed for use by the Internal Revenue Service in calculating unreported income in tax cases, and are the primary ways a lifestyle analysis can be completed.
Specific Items Method
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Anyone who has had to retain an attorney for their divorce knows how expensive it can be. You can plan on putting down at least a $5,000 deposit and then continue paying as your divorce continues on.
Your attorney will most likely bill you by the hour, with fees ranging from $250 to $500 per...
Financial documents are at the heart of divorces. Regardless of how contentious or amicable a divorce is, the finances of the spouses will need to be separated, and financial documents are required to make the division. Whether the information sought is current or historical, unaltered documents...
Businesses that deal heavily in cash transactions are often difficult to manage in the divorce setting. The reality is that many restaurants and other cash-intensive businesses intentionally under-report earnings on their tax returns. The owners consider the cash to be "free money" that they...
Lots of people have concerns about their finances when they're getting divorced. If you weren't actively involved in managing your family's finances, you might be suspicious about how the money was spent or whether there are any hidden bank accounts or other assets.
But hiring a forensic...
Everyone knows about the typical sources of financial information in divorces. Income tax returns, bank statements and related documents, brokerage statements, credit card statements, and business financial statements are some of the most common.
There are alternative sources of financial...
While consumers generally hate income tax returns because of their complexity, they can be invaluable sources of information in divorce proceedings. Not only do they provide insight into prior years’ earnings, they can also point to assets and sources of income. They may be used to unearth...
Potential clients in the process of divorce often contact me because they are concerned about hidden assets. Often the spouse had a history of financial dishonesty throughout the marriage, or his or her behavior became suspicious around the time divorce was filed.
It is not uncommon for there to...
I often get asked how someone will know if their spouse is hiding income or assets in a divorce. Sometimes it is obvious when a document is discovered or information is leaked by someone in the know. But what if you just have a "feeling" that something isn't right?
In working with divorcing...
If you are not the major breadwinner in your family and/or you do not have control over your family's finances, you might be referred to as the "out" spouse. It's not unusual for the out spouse to suspect that income and assets are being hidden during a divorce.
When one party is accused of...
