One of the most important tools a family lawyer can use in a divorce case is a lifestyle analysis: the process of tabulating and analyzing income and expenses of the parties in order to confirm or refute a spouse's income claims, among other uses.
In the ABA book “Lifestyle Analysis in Divorce Cases: Investigating Spending and Finding Hidden Income and Assets, Third Edition,” Tracy Coen, CPA, discusses these subjects in a logical and easy-to-understand manner.
A financial expert or forensic accountant can play an integral part in a divorce case involving complex financial matters. One of the most important tools they can use is a lifestyle analysis, a component being employed in an increasing number of divorces.
“Lifestyle Analysis in Divorce Cases” walks through the critical documents used in the lifestyle analysis, as well as the process used to complete a thorough and accurate analysis. The book discusses in detail the information that can be gleaned from tax returns, financial statements, bank statements, and other financial documents. The lifestyle analysis is then used to determine the standard of living for all parties, which will influence important support calculations and may affect property division.
Additionally, a lifestyle analysis can uncover hidden sources of income and be used to evaluate the finances of each party in a prenuptial agreement.
Chapters include: analyzing historical spending, locating hidden assets, business lifestyle analysis, and reporting and testifying.
Appendices include a financial discovery checklist, sample Form 1040 and related schedules, and a direct examination checklist.
Visit https://www.americanbar.org/products/inv/book/439064793/
In the ABA book “Lifestyle Analysis in Divorce Cases: Investigating Spending and Finding Hidden Income and Assets, Third Edition,” Tracy Coen, CPA, discusses these subjects in a logical and easy-to-understand manner.
A financial expert or forensic accountant can play an integral part in a divorce case involving complex financial matters. One of the most important tools they can use is a lifestyle analysis, a component being employed in an increasing number of divorces.
“Lifestyle Analysis in Divorce Cases” walks through the critical documents used in the lifestyle analysis, as well as the process used to complete a thorough and accurate analysis. The book discusses in detail the information that can be gleaned from tax returns, financial statements, bank statements, and other financial documents. The lifestyle analysis is then used to determine the standard of living for all parties, which will influence important support calculations and may affect property division.
Additionally, a lifestyle analysis can uncover hidden sources of income and be used to evaluate the finances of each party in a prenuptial agreement.
Chapters include: analyzing historical spending, locating hidden assets, business lifestyle analysis, and reporting and testifying.
Appendices include a financial discovery checklist, sample Form 1040 and related schedules, and a direct examination checklist.
Visit https://www.americanbar.org/products/inv/book/439064793/
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