2011 domestic forum tennessee association for justice march 24 2011 memphis tennessee
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2011 Domestic Forum Tennessee Association for Justice March 24, 2011 Memphis, Tennessee. Forensic Accounting And When It Will Help Your Case. Presented by: Robert Vance, CPA, ABV, CFF, CVA, CFP Forensic & Valuation Services, PLC 901-507-9173 www.ForensicVal.com rvance@ForensicVal.com .

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2011 Domestic Forum Tennessee Association for Justice March 24, 2011 Memphis, Tennessee

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2011 Domestic ForumTennessee Association for JusticeMarch 24, 2011Memphis, Tennessee

Forensic Accounting And When It Will Help Your Case

Presented by:

Robert Vance, CPA, ABV, CFF, CVA, CFP

Forensic & Valuation Services, PLC

901-507-9173

www.ForensicVal.com

rvance@ForensicVal.com


My Favorite Actual Search Engine Hits on www.ForensicVal.com

On Point

  • ability to pay attorney fees if husband has all marital assets

  • alimony tennessee wife friviouls spending

  • are draws against profits shown on form w2

  • can a person hide income through retained earnings

  • can a spousecash out their 401k and spend it without the other one knowledge

  • can i receive both alimony and cash settlement

  • can money spent by one spouse offset savings when dividing maritial property

  • dissipation of marital assetts is it hard to prove?

  • do guaranteed payments to partners always flow to 1040?

  • do vocational expert witnesses in a divorce case help with lowering alimony

  • formula exist to calculate which portions are marital or individual property

  • gross financial irresponsibility in divorce

  • how do you stop husband from dissipating funds

  • if i have been divorced for 6 yrs. and receive eprm. alimony may i request cost of living increase?

  • is 401 k an asset in alimonty adjustment order

  • k1 income vs. cash income in a divorce

  • negative equity divorce settlement offset retirement

  • partner takes salary vs guaranteed payment

  • paying alimony with investments

  • proving the ability to paid alimoney

  • retained earnings or k1 in a s-corp when there is adivorce

  • self employed husband hiding money

  • valuation in divorce of life time non vested lifetime medical insurance

  • work in progress role in net assets valuation


My Favorite Actual Search Engine Hits on www.ForensicVal.com

Funny

  • aa pilot hiding assets in divorce

  • divorce paying for living with and paying for girlfriends expenses in connecticut excessive spending

  • divorce should i cash out husbands retirement before he hides it

  • husband spent all assets before divorce

  • divorce unemployed husband who spent his 401k how do i keep him from getting mine

  • separatione monthly income and expense sheets to be favorable for wife

  • is a diamond ring considered an asset in a divorce?

  • can you be single during a divorce in tennessee?

  • is 5,000 per month alimony too much


My Favorite Actual Search Engine Hits on www.ForensicVal.com

Other Relevant

  • ability to pay analysis

  • can a partner in a s corporation take draws in addition to salary

  • can a woman in tennessee draw pension benefits and alimony?

  • catching unreported income

  • child support based on w2 gross?

  • converting pre-marital property to marital property tennessee

  • coverture fraction district of columbia

  • cpa prepares returns partner as employee w-2

  • credit card debt alimony ability to pay

  • credit card payments considered alimony

  • dissipation of assets argument

  • dissipation of assets in divorce + deposition questions

  • divorce and retirement pensions in tennessee

  • divorce how to calculate car separate value

  • divorce needing emergency cash in ira

  • divorce what is a business evaluation compared to a forensic accountant

  • does a spouse owe fica on alimony maintenance

  • does child support withheld go on w2

  • draw can be taken in leiu of salary

  • eldridge v eldridge

  • hiding money from spouse capital pool

  • how do husbands draw alimony, tennessee


My Favorite Actual Search Engine Hits on www.ForensicVal.com

Other Relevant

  • how do i prove dissipation

  • how to figure pension value for divorce

  • how to prove depletion of marital funds in a divorce

  • i paid the joint mortgage and real estate taxes for nine months before the divorce can i claim those expenses as alimony

  • in a divorce how do you calculate the balance of a non-vested pension

  • investment earnings marital property

  • is k-1 income a marital asset?

  • jewelry separate property, tn

  • medical practice valuation personal goodwill

  • noncompete clause in tennessee jackson clinic

  • professional practice valuation

  • sole proprietorship owner payments reflect on profit and loss statement

  • tennessee antenuptial employment earnings

  • unreported income excessive dividends

  • unvested pension factor divorce

  • what box on w2 used for child support calculations?

  • what is value of upside down car on marital balance sheet

  • what to consider in the s corporation ownership & the property division of divorce

  • when calculating present value what is the discount rate during pension valuataion

  • when verifying income what line of taxes do you look at


Case in Point for Using Forensic Accountants

Church v. Church; No. M2009-02159-COA-R3-CV

  • Can the Court consider income-producing assets awarded in the division as sources of income for support in alimony modification– Yes! (No Double-Dip)

    • Could have used an “Ability To Pay Analysis”


Case in Point for Using Forensic Accountants

Church v. Church; No. M2009-02159-COA-R3-CV

  • Can the Court lower the alimony obligation due to having lower income and making bad investment decisions – No!

    • Could have used an “Lifestyle or Expense Analysis”

  • Should the Husband not brag about traveling with his new wife?

    • "[M]y wife likes to go places. She's young."


Big Picture

Marital Estate

  • Identify

  • Classify

  • Quantify

    Support

  • Need

  • Ability to Pay


Marital Estate – Identify

  • Discovery – Get us in early!

    • RPD

    • Interrogatories

    • Evaluating Early (sometimes crazy) Offers

    • Avoid a Claim of Malpractice - Don’t Show up to the Beauty Contest Without a Swimsuit!


Marital Estate – Identify

Forensic Examinations

  • Finding “Hidden” Assets and Sources of Income or “True” Income for Support

    • W-2s and Tax Returns

    • Schedule B

    • Schedule E

    • Actual Cash Flow Distributions vs. Taxable Income


A 48,000

48,000


Schedule E, pg. 2

from 1040

From K-1


Marital Estate – Identify

  • Finding “Hidden” Assets and Sources of Income or “True” Income for Support

    • Personal Bank Statements & Credit Card Statements

    • Compiling Cash In and Out

    • Standard of Living Analysis

    • Tracing Deposits and Disbursements

    • Dissipation

    • Transmutation


Marital Estate – Identify

  • Finding “Hidden” Assets and Sources of Income or “True” Income for Support

    • Personal Expenses Run Through the Business

    • Retaining Earnings in the Business

    • Has the double-dip question of income producing assets vs. income for support been answered? - Church


Marital Estate – Identify

  • Finding “Hidden” Assets and Sources of Income or “True” Income for Support

    • De Facto Partnerships

    • Non-Qualified and “Unconventional” Deferred Compensation Plans (does his buddy own the company?)

    • Net Worth Analysis


Marital Estate – Identify

Forensic Examinations

  • Examining QuickBooks and Quicken Transactions in Electronic Form

    vs. static PDF form

  • Cost/Benefit of an Exam


Marital Estate – Classify

Separate vs. Marital

  • Is the income generated by separate property passive or can it be the spouses job?

  • Pre-Marriage and Post-Marriage Appreciation – Snodgrass

    • 401(k)-No

    • IRA-Maybe


Marital Estate – Classify

Separate vs. Marital

  • Has the spouse substantially contributed to the preservation and appreciation of the stock? - Keyt

    • Managerial Authority

    • Hiring and Firing Employees

    • Allowing Earnings to be Retained?


Marital Estate – Classify

Separate vs. Marital

  • Comingling

  • Transmutation

  • Completed Gifts


Marital Estate – Quantify

Assets & Liabilities

  • See TBA article: “Breakin’ Up

    is Hard to Do”

    • It’s on my website of course

  • Compiling a Marital Balance Sheet


Marital Estate – Quantify

Assets & Liabilities

  • Business Valuation

    • Is-there-anything-there-at-all-analysis? Is it just a job and no more?

    • Professional Practices

      • Personal vs. Enterprise Goodwill

        • Smith

        • Witt

        • Roberts

    • Is he/she purposely tanking the business?


Marital Estate – Quantify

Assets & Liabilities

  • Pensions & Retirement

    • Valuation

    • Interpretation of plans

    • Figuring/Verifying Current and Future Payouts

    • Assist with QDROs

    • Unusual Plans


Support – Need & Ability to Pay

  • Lifetime Analysis vs. Monthly

  • Poverty Timeline

  • Net Worth Accumulation

  • Multiple Scenarios

    • With Kids

    • Without Kids

    • Present House

    • New House


Support – Need & Ability to Pay

  • Does a spouse really have a need?

    • Considering Proposed Division and Return on Assets

    • Taxes

  • Ability to Pay

  • Change of Circumstance Analysis

    • Church


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