Divorce can be a difficult process, especially when there are financial inequalities between the two spouses. In such cases, it is essential to ensure an open and honest exchange of information so that both parties have a clear understanding of the finances. In most families, one spouse may have more knowledge and skill regarding the…
John Lawler (Petitioner) Versus Carol Lawler (Respondent) Forensic Accountants’ Positions and Ruling by the Court Presented by Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA In the previous newsletter, I discussed the stipulations agreed upon by the parties for this trial, as well as a brief mention of the positions the forensic accountants would need…
Ron’s Corner In issue 68 of Forensic Accounting Today, I briefly discussed a case involving reasonable compensation in which I prevailed. This was a complex case involving the purchase of several accounting practices by Petitioner both before and after the couple’s date of separation. I have decided to devote this and at least one following…
Some divorces have complex financial issues. In such cases, a forensic accountant can be called in to analyze financial documents to help divorcing couples in the collaborative process, or in court when litigation is involved, to determine the value of assets and how those assets should be divided. They also assist in decision-making on child and…
By Ron J. Anfuso, CPA, ABV, CFF, CDFA, FABFA Industry-Specific Databases The specific databases I have subscribed to for several years are surveys of attorneys, physicians, and accountants. Although some accountants may not obtain these surveys due to their cost, I subscribe because each provides a wealth of information that enables me to more accurately…
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…