Reduce the stress of the divorce process.
A divorce is an incredibly stressful and expensive event in a person’s life. If you own a home, have retirement or other investments, are self-employed, have children, or are concerned that your spouse may be trying to hide assets, give us a call for a free consultation to see if we can help you save on attorney fees/court costs, act as an expert witness in court, calculate and negotiate reasonable child support payments, budget for life after divorce, or ensure that your marital estate is complete and reasonably valued before you negotiate the division process. You may be surprised by how many details can be missed in this process without a professional’s help! Some examples of considerations include:
Taking all or a portion of a retirement investment and cashing it out will typically result in a tax penalty associated with the withdrawal that can usually be avoided by different allocations of the marital estate.
Rental properties can either be kept to continue earning income (which has a value to the estate) or sold. If you take such an asset in a divorce, the value included in the marital estate for that property may be different depending on what you plan to do with the properties.
Employee pension plans that have a future stream of income once the employee retires have a value today that can be calculated and the marital portion included in the estate.
$50,000 cash does not have the same value as a $50,000 mutual fund balance. Why? Cashing out that mutual fund will trigger taxes that must be paid on the gains from the sale of the fund, but taking $50,000 from a checking account typically has no tax effect.
When a spouse invests in a business or is self-employed, the business may be a marital asset that requires valuation to determine a reasonable amount for including in the marital estate.
Our team at DK Partners includes CPAs, Certified Fraud Examiners, bookkeepers, and a Certified Divorce Financial Analyst who can help you address these issues and other financial questions as they arise during the divorce process. We can also help with important activities including:
Assisting your attorney by recommending the specific documents to request in the discovery process to ensure that there is evidence of everything that should be included in the marital estate;
Compiling the marital estate in an organized, user-friendly format for use in negotiations and/or trial;
Reviewing the marital estate you and/or your attorney have compiled to determine its completeness/reasonableness;
Ensuring reasonable values placed on retirement plans, businesses, investments, and other significant assets;
Recommending scenarios for a fair division of assets and debts, as well as child and/or spousal support; and
Acting as an expert witness in court.