Why So Many Documents for a Business Valuation (Part 2)?

In the previous issue of Forensic Accounting Today, I consisely clarified the key reasons why Forensic Accountants request certain documents for business valuations. These included financial statements, tax returns, general ledgers and journals, paid bills, bank statements, canceled checks and brokerage statements, income tax audits, and stockholder and director minutes. (If you do not have…

In re Marriage of Dawnel and Frank Bonvino: Part 2 – Findings of the Court of Appeal

Frank Bonvino’s Appeal Frank Bonvino based his appeal of the trial court’s decision on the contention that there was no evidence he transmuted his separate property to community property.  By plain language of this statute, Family Code §2640 applies to separate property contributions that are traceable from a community property asset at dissolution.  Section 2640…

Potential Consequences of Hiding the Ball

The fiduciary duty of each party involved in the dissolution of a marriage requires full disclosure of documents and information that are pertinent to their case without being requested. This obligation includes the distinct nature and valuation of all assets and debts in which the community has or could have an interest or for which…

Dividing Pension Plans in Divorce and Legal Separation Cases in California

In the State of California, retirement benefits are considered a form of employment compensation. Thus, the community estate owns the pension rights that pertain to employment during the marriage. This holds true regardless whether the pension benefits have vested or matured. The division of pension benefits between the separate and community estates must be “reasonable…