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…

In re Marriage of Dawnel and Frank Bonvino Findings Change Precedence in Real Property Apportionment Calculations (Part 1)

Approximately three years after their marriage, Dawnel and Frank Bonvino purchased a family home in Westlake Village with a down payment from husband’s resources and the proceeds from a loan in his name.  The property was purchased in 1996. Title to the home was taken in Frank’s name as sole and separate property.  Approximately 15…

Why So Many Documents for a Business Valuation (Part 3)?

Documents 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…

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…