Among the financial assets that can go through a divorce, life insurance may be easy to miss. Throughout the COVID-19 pandemic, these policies are coming into greater focus as divorcing spouses prepare for the unexpected. Depending on the situation, you can handle life insurance in the following ways: Policies can remain in effect to…
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If you look just at financial statements for a business involved in a divorce, you might not see where all of the parties’ money goes. To get a clearer picture, you may need to determine whether they pay for expenses in cash or charge any personal expenditures to the business. As you dig deeper,…
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As the term “irrevocable” implies, generally, the creator or grantor of such a trust lacks the power to withdraw or change it after it has been established. Is it possible to change an irrevocable trust when a divorcing spouse has been named a beneficiary? And could there be potential tax consequences as a result?…
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The COVID-19 crisis has led to the temporary shutdown and gradual reopening of courtrooms. In some jurisdictions, proceedings have moved online, which has increased the use of Zoom and similar video conferencing platforms. This technology has changed how some courts handle divorce cases and it may eventually revolutionize the entire legal system. Remote hearings…
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During divorce court proceedings, attorneys don’t always take the opportunity to prevent consideration of evidence based on unreliable methodologies. Outside of the Federal Rules of Evidence, depending on your jurisdiction, you can use Daubert, Frye, and other standards to survive a challenge to an expert witness’s data, testimony, or opinions. They can also help you…
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When a spouse hides assets, it’s crucial to have the skills you need to follow the trail of clues to see where they lead. Our CFL™ course covers these and other financial aspects of litigation to help you work more efficiently and serve your clients better. The recent Texas appeals case of Michelina v.…
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Our CFL™ course teaches you about the many ways divorcing spouses hide money. The recent federal Paycheck Protection Program (PPP) is an example of an opportunity for some shady business owners to shield or falsely report funds. Intended to keep businesses open during the coronavirus lockdown, some may choose to help themselves instead. The…
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During the COVID-19 pandemic, corporations have less cash to reward their key employees. Non-qualified stock options (NQSOs) and restricted stock will likely continue to be common forms of executive compensation. Top-level employees aren’t the only ones who receive these bonuses; more and more, entry-level hires also get them, which means they may come up…
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When determining support payments, financial details are often involved, which our CFL™ course covers to round out your knowledge. In calculating support payments, legal timelines are also crucial. Certain states, like Florida, go by the length of a marriage in setting permanent alimony. That issue became the subject of debate in the recent appeals…
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By mistake or on purpose, business owners may fail to disclose perquisites or “perks” and “add-backs” to their cash flows. This can affect how much money is considered to be available for support purposes and the assets subject to equitable distribution in a divorce. Finding perquisites, personal benefits business owners may receive from their…
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