An Accountancy Corporation
Ron J. Anfuso, CPA/ABV, An Accountancy Corporation, was retained by a Family Law attorney on behalf of Jonathan Brown to perform accounting services. Our efforts included, but were not limited to (a) tracing the source, to separate or community property, of funds used to purchase a condominium in South Africa, and to determine the community…
DetailsRon J. Anfuso, CPA/ABV, An Accountancy Corporation, was retained by a Family Law attorney on behalf of Jonathan Brown to perform accounting services. Our efforts included, but were not limited to (a) tracing the source, to separate or community property, of funds used to purchase a condominium in South Africa, and to determine the community…
DetailsFred and Mary Brown had been married for almost 30 years. As a member of the senior management team of a Fortune 500 company, Fred was earning more than $1,250,000 a year. His objective was to attain a quick divorce. He had fallen in love with another woman, wanted a complete break from his marital…
DetailsThe party guilty of hiding assets and income during a marital dissolution proceeding is usually the spouse who is the major breadwinner, runs a business or handles the family finances. One of the valued tasks of a Forensic Accountant representing the more dependent party is to look for and uncover any hidden assets of the…
DetailsThe Case of Smith versusJones & Jones (Continued) Part one of this feature article introduced the malpractice action against the firm of Jones & Jones, LLP.** In this case, the plaintiff, Simon Smith, alleged that the law firm breached the Attorney Standard of Care for Family Law practitioners. In part one, I presented background on…
DetailsIn the practice of Family Law, it is the attorney’s duty to inform clients of all reasonably evident legal issues or problems and to surpass his scope of representation when necessary, including recommending consultations with other professionals, such as Forensic Accountants. Falling within this sphere of responsibility includes advising clients concerning the potential of double…
DetailsDocuments Needed for Incorporated Businesses There are specific documents concerning corporations that Forensic Accountants frequently request to review in a dissolution matter. Typical ones include articles of incorporation, by-laws, corporate minutes, stock certificate books, stock ownership lists, organograms and job descriptions of key officers. Articles of incorporation: Forensic Accountants want to know when the company…
DetailsIn 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…
DetailsThe valuation and distribution of marital property is typically one of the most difficult and arguable issues to be dealt with in a divorce proceeding. The process can become considerably more complicated and expensive when the marital community owns an interest in a business. In such cases, a Forensic Accountant is often hired by the…
DetailsFrank 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…
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