Posts Tagged ‘Divorce’
Searching for Hidden Assets in a Divorce Settlement
The division of martial assets is often far more complicated than either party in the divorce estimates it to be. As such, the attorneys involved in the case will typically advise that a valuation expert or forensic accountant get involved in the process. Forensic accounting serves to reveal any hidden income, hidden assets, or assist…
Read MoreForensic Accountants and Your Divorce Case
Divorce rates in the United States fluctuate between 40 and 50 percent, ranking it 6th amongst countries with the highest divorce rates in the world. In fact, it is estimated that there is a divorce every 13 seconds in America. When a marriage ends, the separating couple and all of those close to them are…
Read MoreCommon Methods of Hiding Assets in a Divorce
The process of hiding assets in the event of an upcoming divorce or a current divorce is all too often commonplace in today’s world. In many cases where a divorce is imminent, high net worth individuals are tempted to hide assets from their partner in an attempt to conceal and safeguard their wealth. Whether they…
Read MoreMediation – Is it Worth It?
Mediation in a divorce setting involves the meeting of a divorced couple, where issues are discussed with the help of a neutral third party, known as the mediator. Some of these issues that are discussed include child support, taxes, the distribution of assets and liabilities, child custody and parent time, and retirement. Because these topics…
Read MoreTop 10 Things You Should Know About Divorce
Contrary to popular belief, the commonly repeated “fact” that half of all marriages in the United States end in divorce is only loosely true. In fact, divorce rates have actually slowed over the last couple of decades, giving reassuring hope to many who are down on the concept of marriage. While this is encouraging news,…
Read MoreValuing Personal Goodwill in the State of Florida: Alternatives to Tangible Net Book Value
Introduction The question of how to objectively value personal goodwill in a marital dissolution proceeding is one frequently encountered by business appraisers and attorneys in the State of Florida. Personal goodwill is defined as the portion of a business’ value in excess of tangible net book value that depends upon the personal reputation and continued…
Read MoreTop 13 Reasons You Need a Forensic Accountant
Forensic accountants are required to maintain a specialized skill set of auditing expertise, education, and training. Combining accounting and analytical talents with financial proficiency and a strong moral compass, a forensic accountant plays a critical role in both litigation support and investigations. First and foremost, a forensic accountant must maintain relevant credentials. Through academic measures…
Read MoreThe Increasing Role of the Expert Witness
Testifying in a court case as an expert witness is often critical to the outcome of a lawsuit. Forensic accountants are typically called upon to utilize their accounting, investigative, economic, statistical, and research techniques and then apply them to a legal problem. Digging into a case to analyze, audit, and investigate helps to assess the…
Read MoreWhy Do I need a Forensic Accountant for my Divorce?
Forensic accounting plays a critical role in the preparation and examination of financial records and statements. Combining all facets of accounting, investigating, and auditing, forensic accountants are tasked with the responsibly to deliver an accounting analysis suitable for court. The specialized skillset of a forensic accountant has led to their place in the modern day…
Read MoreSearching For Undisclosed Assets During a Divorce
The divorce process is a very emotional time for both parties involved and oftentimes can lead to doubts regarding the integrity of your spouse. Hidden assets are a very common concern among individuals who are going through a divorce. Usually, the spouse who had very limited and/or no previous knowledge of the parties’ finances during…
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