By 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…
Some 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…
Ron’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…
Buyer’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.*…
Not 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…
Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Yes, of course, 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…
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…
There is indeed a missing component in the divorce process. Although not always required, it is a service that can actually increase clients’ level of satisfaction with their Family Law attorney. To have a clear picture of one’s own financial outlook five, 10 or even 20 years down the road can serve as a blessing…
The fiduciary duty of each party involved in the dissolution of a marriage requires full disclosure of documents and information that are pertinent to their case without being requested. This obligation includes the distinct nature and valuation of all assets and debts in which the community has or could have an interest or for which…
Many people hear the term “fiduciary duty” and think it only applies to business relationships. In fact, divorcing spouses owe a fiduciary duty to each other. This means they must deal with each other fairly in the division of their assets, even when the assets include cryptocurrency. The Meaning of “Fiduciary Duty” in a Divorce…