How should an appraiser value businesses in a divorce? What happens to those valuations during an economic downturn such as the COVID-19 crisis? In our most recent webinar, industry experts Ken Pia, CPA, ABV, ASA, MCBA of Marcum LLP, and Mitchell Cohen of Johnson & Cohen, LLP answered those questions while they covered the following…
Details
Our CFL course explores the finer points of marital settlement agreements (MSAs). If you haven’t drafted them carefully, potential misunderstandings may lead to courtroom showdowns, like in the recent Florida appeals case of Forest v. Estate of Kohl. The proceedings centered on an interpretation of a release in the MSA and the former wife’s…
Details
Couples who decide to divorce after age 50 may have been married for a while and have acquired many things – some of them could be valuable. The rarer the item, the more likely it is to be worth something. Collections with not just sentimental but tangible value can be easy to miss, such…
Details
Our most recent webinar discussed ways to divide commercial real estate in property settlements. In it, long-term partner at leading law firms Jonathan Black of Essex Realty Investments LLC and AACFL board member and faculty Lee Sanderson of Valuation Forensics featured an effective tax-free method. Usually a primary marital asset, commercial real estate must be…
Details
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…
Details
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…
Details
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…
Details
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…
Details