Recent Bowling Green University and Pew Research studies suggest that on average, divorce rates among adults age 50 and older have nearly doubled since the 1990s. Older adults often need more money to plan for retirement and healthcare costs. Standards of living also continue to soar, which makes financial planning vital in “gray” divorces. A…
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Among other financial topics, our CFL™ course covers support, which can become an issue before and after divorce proceedings. Case in point: the recent Ohio Supreme Court decision In re Adoption of A.C.B. revealed how failure to comply with child support obligations under a judicial decree can influence a parent’s consent to an adoption. Case…
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The Tax Cuts and Jobs Act of 2017 (TCJA) made major changes to tax laws that led the Internal Revenue Service (IRS) to modify 1040 forms accordingly. This latest post in our financial literacy series covers the 2019 tax forms and key sections to use to assess your clients’ financial situations, lifestyles, and if they…
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Our CFL™ course features many financial aspects of divorce, including child and spousal support, to help you practice family law effectively. Like in the recent high-net-worth Florida appeals case of Accardi vs. Accardi, when one party fails to meet an obligation, a legal battle can ensue. It’s also important to determine who can make court-ordered…
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You may have run into some forms of executive compensation in your family law practice, however, you might not fully understand them. Executive compensation is becoming increasingly complex to divide in divorce settlements as it continues to be tied to work performance. Knowledge of the underlying financial principles can help you advise your clients better…
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As a family law attorney, you’re familiar with negotiating child and spousal support, which we cover in our CFL™ course. Sometimes, years after a responsible spouse has made those payments, like in the Maryland appeals case of Nusbaum v. Nusbaum, they can seek to have them reallocated. Depending on the legal parameters involved, such requests…
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As outlined in our CFL™ course, dissipation occurs when one spouse (without the other’s consent) uses marital funds or property for their own benefit for purposes not connected to the marriage. The central question in the recent Florida appeals case of Welton v. Welton was whether the husband’s withdrawal from an IRA to pay certain…
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As a family law attorney, you know how to fight for your clients’ financial futures. Especially in high-net-worth divorce cases, much is at stake and you want to negotiate a successful outcome for everyone. In the process, do you fully understand your clients’ financial situations to advise them on the best course for their cases? …
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