Understanding Hardship Deductions

By Lawrence Markey, Esq. and Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA 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…

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Tracing: Why, When and How

Tracing usually becomes an issue when community and separate property funds have been commingled in the same account(s) and then an asset is purchased with funds from that account. The mere commingling of separate property moneys in a community bank account does not destroy the separate property character of the funds, so long as they…

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The Marriage of Collins: Turning a $4,000 Client Investment into a $300,000+ Savings in Spousal Support

Case Background Melvin and Maureen Collins were married for thirty-five years. In 2005, the couple separated and subsequently divorced. Melvin, who was the sole breadwinner, has been employed as a professor of economics at a prestigious Orange County university. During their marriage, Maureen was a stay-at-home mom. Their divorce settlement included a monthly spousal support…

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