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We have forensic accountants, psychologists, pension experts and more a phone call away to help us proceed with your case efficiently and effectively.

Forensic Accountants

Financial issues involved in a divorce - especially high net worth cases - can often become rather complicated. This is why it is important to use a forensic accountant when needed. Unreported income and hidden assets are often alleged in divorce proceedings, usually by the spouse who is either not running a business or has not been in charge of the family finances.

It is not uncommon for a spouse to hide assets, especially if the divorce has been planned for quite a while. People hide assets for a variety of reasons, but essentially, they have property or money that they do not want to have discovered.

There are numerous ways to find hidden assets, but typically assets are either placed in the hands of third parties or behind false documents. The process of finding assets or proving unreported income is often one of the most difficult assignments during the divorce process. Being familiar with ways individuals move assets into the hands of third parties or behind false documents and techniques to find those hidden assets can result in the discovery of this property.

Forensic Psychologist

In child custody cases we generally hire the services of a forensic psychologist. The primary purpose of using a forensic psychologist is to assess the best psychological interests of the child.

In a child custody evaluation, the child's interests and well-being are paramount. Parents competing for custody, as well as other people involved, may have legitimate concerns, but the child's best interests must prevail.

The focus of the evaluation is on parenting capacity, the psychological and developmental needs of the child, and the resulting fit.

In considering psychological factors affecting the best interests of the child, the psychologist focuses on the parenting capacity of the prospective custodians in conjunction with the psychological and developmental needs of each involved child.

This involves (a) an assessment of the adults' capacities for parenting, including whatever knowledge, attributes, skills, and abilities, or lack thereof, are present; (b) an assessment of the psychological functioning and developmental needs of each child and of the wishes of each child where appropriate; and (c) an assessment of the functional ability of each parent to meet these needs, including an evaluation of the interaction between each adult and child.

The values of the parents relevant to parenting, ability to plan for the child's future needs, capacity to provide a stable and loving home, and any potential for inappropriate behavior or misconduct that might negatively influence the child also are considered. Psychopathology may be relevant to such an assessment, insofar as it has an impact on the child or the ability to parent, but it is not the primary focus.

Appraisers

Real Estate: Attorneys, as well as rely on professional property appraisals when calculating the values for real property. This is particularly important during a divorce because the division of assets for the divorce property settlement needs to be based on the current (actual) Fair Market Value of the property. If you are concerned that you may be in a negative equity situation with your property (meaning you owe more than your home is worth), it is essential that you know the value of your real estate so that you can negotiate a fair agreement between the parties to the divorce. Unfortunately, divorce happens, and when it does, assets need to be divided. One of the largest assets for many people is their home. Before a divorce can be finalized, the value of the home needs to be determined by a residential real estate appraisal, and then a decision must be made – does one person get the house (perhaps by buying out the other person), or will the property be sold and the proceeds divided along lines similar to the rest of the division of assets?

Business Appraisers: Business appraisers focus on the ultimate goal of keeping a business operating with as little divorce-inflicted damage as possible. Accurate valuation is crucial for business owners facing divorce or other family law matters. Our attorneys coordinate with business appraisers in order to protect assets or reconcile the appraisal and business settlement with other divorce matters. Expected outcomes of any proposed settlement or outcome - using an accurate approached - can help influence appropriate decisions for the best long-term results.

Appraising a business is not an easy job, and it demands an experienced and meticulous professional. Appraisers should also have a thorough understanding of the particular business involved and value businesses based on the unique factors involved, including the market, income, and assets.

Professional license and practice appraisals

Valuing a Professional Practice

In a typical business valuation, the professional will be asked for an extensive list of financial information, including financial statements, balance sheets, federal income tax returns, aged accounts receivable reports, accounts payable reports, a fixed-asset registry, lists of items comprising significant other asset balances and accrued liabilities reports. For dental or medical practices, existing and new patient count reports, practice demographic reports, capital equipment lists (which include a fixed asset registry) and previous practice appraisals are also needed to value a practice.

Professional Degrees & Licenses

In some cases, allocating a disproportionate share of the assets to one spouse is justified. For example, a professional license or degree obtained during a marriage is not considered community property. However, the spouse who contributed to the acquisition of the degree may be entitled to compensation in the form of spousal maintenance and/or a disproportionate share of the assets. The theory behind compensation is to replace the benefit of the professional degree or license lost as a result of the divorce (based on the assumption that the non-professional or lower earning spouse will be "left behind"). Generally, courts give more weight to the non-professional spouse when he or she has made significant contributions that have helped the other obtain the degree or license. The perception is that the non-professional or lower earning spouse will be "left behind," or otherwise that failure to compensate for the value provided by the non-professional spouse would be unjust and inequitable. It is in the court's discretion to permit compensation.

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