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Get the help you need when planning for or going through a divorce. Our FREE divorce financial planning consultation will save you time, money, and frustration. Don’t make a costly mistake, schedule today!
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An essential step in your divorce is to provide a financial statement. This statement lists all of your income, assets, and debts comprehensively. Depending on the type of divorce you will be going through, this affidavit could be the most critical document in your divorce. If you feel overwhelmed or unsure how to complete your financial statement, we can help you collect the data needed from your marital assets and complete the forms.
Separate property tracing is needed when assets may have been established before the marriage or inherited during the marriage. Our divorce services include: analyzing asset statements, documenting, and valuing property ownership for divorce.
Our analysis can also help in cases where marital assets were used (to the benefit of one spouse) for things like affairs, excessive spending, gambling, or loaning large amounts of money; this is considered a dissipation of marital assets.
Before you agree to a marital separation agreement, you should understand how the divorce financial settlement impacts your life after the divorce. This includes taxes and your individual needs post-divorce.
Determine a pension’s present value and marital portion (if applicable) through a detailed pension valuation and report. Our divorce financial services include QDRO (Qualified Domestic Relations Orders) plan research, drafting the proposed QDRO, getting plan approvals, and drafting final orders.
Divorce is not only an emotional process but also a financial one. In many cases, financial issues can complicate proceedings, especially when there are suspicions of hidden assets, undisclosed income, or unusual financial behavior. This is where financial forensics plays a critical role. By digging deep into financial records, forensic accountants can uncover discrepancies and ensure a fair division of assets. Here’s a closer look at how financial forensics works in divorce and why it can be essential for ensuring transparency.
We serve as experts and can testify in any US Court.
The lifestyle analysis is a process of calculating and analyzing the income and expenses of the marriage. This analysis is typically used by both parties to determine the standard of living, which can be used to influence support calculations and possibly property division.
Despite what income is reported, the actual lifestyle of the couple may be significantly different. This can be common when one party is self employed and the business pays for expenses, cash businesses, or when one party makes a high income but the couple lives below the income means.
Another benefit of a lifestyle analysis is the possibility of uncovering hidden assets. A lifestyle analysis will uncover details about where funds come from, how they are used, and the financial decisions that were made during the marriage.
If stock options, restricted stock units, or other executive compensation are involved in a divorce, our analyst can help determine values, effects from taxation, and how to negotiate the split of these assets.
In certain circumstances, alimony buyouts can be a way to negotiate a lump sum amount upfront to be paid instead of payments over time. Our comprehensive divorce financial services package can assist in determining if this makes sense in the divorce.
During a divorce, you may need to close financial accounts to sever economic ties with your spouse. Your income and expenses will likely change as well. Whether you purchase a plan for our divorce financial services or just want us to review your credit and analyze your post-marital cash flow, understanding your future spending power and credibility is essential.
The biggest concern with divorce is money. Your financial situation will dictate what you can afford, the lifestyle you can have, and the ability to achieve your goals; through this analysis, a lot of the anxiety you may experience during a divorce could be diminished. Creating a budget and cash flow analysis is like a financial x-ray.
Divorce will likely alter your financial and lifestyle goals while married. Our divorce financial services include reprojections of your financial goals to determine your ability to achieve your goals.
Many couples share insurance policies such as health, dental, property, and casualty insurance policies. One party will likely have to obtain new policies when the divorce is final. Unfortunately, this is one area often overlooked with everything that divorce involves. Our comprehensive divorce financial services will examine your current coverage and what you will need to replace it.
Although many people do not think of estate planning outside of death or when their assets exceed the taxable amounts, simple tasks such as updating beneficiaries, wills, medical directives, health proxies, trusts, and powers of attorneys are all fundamentals of estate planning. Avoid mistakes with our divorce services by reviewing important document updates.
When special needs exist in a family facing a divorce, planning while married must be duplicated, as there will be two households after the divorce. Our comprehensive divorce financial services can review the child’s needs and create a plan to ensure these needs are not disrupted through the divorce.