When couples begin a marital dissolution and choose the Collaborative Divorce process, we often find that one person is thoroughly knowledgeable about their finances and the other one knows very little. In these cases, one spouse has paid the bills during the marriage and has been in charge of investments. That person has taken care…
DetailsBy Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA I always inform judges, attorneys and clients that business valuation is not an exact science. Two of those areas that require some subjectivity when valuing a business are the determination of reason- able compensation and the risk associated with the business. The means by which to…
DetailsSome Financial Considerations You Probably Should Consider I congratulate you and wish you all the best. However, I do want to provide you some important statistical information and advise you to consider protecting your assets just in case sometime in the future your remarriage turns out not to be what you or your future spouse…
DetailsRon’s Corner This is an article I never had planned to write. However, I felt compelled to do so due to the incompetent accounting I have recently witnessed. Lately, I have been involved in cases in which the opposing attorneys hired inexperienced accountants. In some instances, accountants created a mess for the other attorneys’ clients. Here…
DetailsIn re Marriage of Nakiya Ramsey and Steven Holmes Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Second Appellate District Background Nakiya Ramsey and Steven Holmes were married in October 2007 and separated in April of 2015. They had two children. The family lived in the home at issue from February 2005 until…
DetailsIf you inherited property, money, stocks or other assets either before your marriage or during it, the inheritance, whether cash, real estate, family heirloom, or anything at all, is your separate property. If you kept the asset separate, for example, put the inherited money in a separate bank account belonging only to you, it remains your…
DetailsBuyer’s remorse in family law occurs when one party, after agreeing with the court’s findings, decides he or she was unhappy with the ruling. In this case, Susan, the respondent, moved for an order to set aside judgment based on her opinion that Kevin, the other party, provided false information in the Declaration of Disclosure.*…
DetailsNot every couple needs a prenup or pre-marital agreement. For example, two people getting married out of college who have not accumulated any real assets and never been married before, do not need a prenuptial agreement. On the other hand, couples getting married for the second or third time and who have children from previous…
DetailsWhen divorcing couples are discussing spousal support in California, they need to be aware of the tax implications of their divorce. Federal laws enacted by congress and enforced by the Internal Revenue Service (IRS) are different than laws enforced by the California Franchise Tax Board (FTB). Spousal Support and Taxes IRS rules. Under federal law,…
DetailsPresented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA The Trial Court’s Decision Fred and Jill Smith were divorced in 1986. They had one child, for whom Fred was ordered to pay child support. Fred fell into arrears and, at the time of the Court of Appeals hearing, owed $190,000. His trial court request…
Details
