An Accountancy Corporation
Plaintiff Michael O’Shea hired attorney Susan F. Lindenberg to represent him in a case for child support. After the court awarded O’Shea’s ex-wife what he believed was excessive child support, he filed a legal malpractice action. His most significant allegation of negligence was that Lindenberg should have retained a forensic accountant. The case went to…
An Example Case Fact Pattern Upon Dissolution: Divorced spouses co-own rental property valued at $4 million (net of sale costs) Loan balance: $2 million • Current net income: $5,000 per month ($60,000 per year, or 3% yield on equity) Purchase date: 15 years ago • Original purchase price: $2 million • Cumulative depreciation: $500,000 Adjusted…
Background When investment real estate is characterized as community property, it is subject to division upon dissolution. Yet it can be highly impractical or inappropriate for divorced spouses to maintain joint ownership of an investment property. Conflicts of interest, unequal influence over management, accounting complexities and general animosity affect real estate ownership more than other…
Background Francis Desouza appealed a post-judgment order that found he breached his fiduciary duty to his former wife Erica. The trial court ordered Francis to transfer Bitcoins and other cryptocurrencies to Erica pursuant to the parties’ judgment of dissolution and to pay Erica’s attorney’s fees and costs. Francis argued that he did not breach his…
Background Greg and Jodie Mohler were married on September 12, 1998, and separated on July 2, 2011. Petitioner (Jodie) filed a Petition of Dissolution on January 25, 2012. Greg filed his response on April 9, 2012. Their trial did not take place until November 15, 2017. Jodie’s Proposed Statement of Decision identified several disputes. Among…
Child support litigation in California has caused the spilling of an ocean of ink and toner, yet to many attorneys, the magic box we call the “guideline” remains as mysterious as ever. One component that adds to the opacity of the statewide guideline is the “hardship deduction” embodied in Family Code §4071(b). This article will…
Background Although the Todd case was not a family law matter, it can apply to apportionment in family law cases when a hybrid approach may prove more effective than limiting the method to Pereira or Van Camp alone. In this case, the Commissioner of Internal Revenue used what we today call the Capital Labor Apportionment…
Background Charles Brandes founded BIP in 1974 to provide investment advisory services for fees based on the percentage of the company’s clients’ assets under management. When Charles and Linda met in 1983, BIP managed assets of $8.2 million. His annual income was $44,148. Linda agreed to marry Charles after he showed the initiative to make…
Yes, California is a no-fault state. However, no fault relates only to grounds for the termination of a marriage. Financial fault, on the other hand, has no limits. It can lie in the past, present or future. In fact, it seems that as time passes and cases grow, in law, the theories for asserting financial…
Yes, California is a no-fault state. However, no fault relates only to grounds for the termination of a marriage. Financial fault, on the other hand, has no limits. It can lie in the past, present or future. In fact, it seems that as time passes and cases grow, in law, the theories for asserting financial…