Hidden assets can impact both the property division and the award of support payments. Assets hidden by one spouse deprive the other spouse of a share of them. If the hidden assets include income-producing assets such as a business venture or an investment portfolio, the spouse receiving support...
Going through a divorce is tough. There are many aspects of life that will change, but the one that seems to rise to the top is money. Many women feel shame and uncertainty when it comes to their financial situation after a divorce.
Maybe you weren't the one who handled the family finances...
In today’s digital age, sharing online accounts has become a common practice among couples. It’s convenient, efficient, and saves money. It eliminates the hassle of managing multiple accounts for the same service, and makes it easy to share information and content. But when a...
Financial abuse by a narcissist during divorce is a common tactic used to gain power and control over a spouse. The abuser uses his or her financial resources and savvy to manipulate the husband or wife and keep him or her in a state of dependence. This abuse can be devastating and leave...
Divorce can be one of the most difficult times of your life. Not only is it emotionally taxing, it's expensive. There is the cost of your attorney and the filing fees, but there is also the burden of figuring out how to pay expenses on your own.
Here are 5 tips for securing your finances if...
One of the most common documents utilized in a financial investigation is the income tax return. It's a key document in any divorce case, so the personal income tax return is always examined. And if there is a business, the tax return for that entity should be examined too.
What can we learn from...
In the early stages of divorce, clients are required to complete financial affidavits, financial declarations, or other similarly titled disclosures. The importance of an accurate disclosure of assets, liabilities, and income is obvious. Yet many clients are unable to accurately prepare...
Some family law attorneys are reluctant to retain forensic accountants in their cases. Money may be a factor, but sometimes the need for an outside expert is not clear. While law firms may have paralegals or attorneys on staff who are very knowledgeable about financial issues, the outside...
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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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...