Arizona population projections, marriages and divorces

A report from the CDC/NCHS (*), National Vital Statistics System (See Table 1) has disclosed some interesting facts about population, marriages and divorces covering our 50 states and the District of Columbia. Marriage and Divorce The national average of divorce to marriages per 1,000 total population is 45.6% (**). When it comes to divorce, Arizona …

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Valuation Issues in Divorce

Divorce can be a very emotional event, which is further complicated by the effort to equitably divide the marital assets. The parties often disagree about the value of specific assets; which assets are sole and separate property; and on occasion, may accuse one another of fraud. One particular item that is often in dispute is …

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A Contract to “86” Wife Isn’t Part of the Divorce Settlement

Over the years I have been asked to be an expert regarding many marital dissolution cases. Most of my cases deal with valuing business interests held by the divorcing parties and income determination in connection with spousal maintenance and child support issues. Many of my cases have gone amicably between the divorcing parties. Some were …

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Dividing a 401(k) or Pension Benefits in a Divorce – Part 1

Forensic accountants are often asked to assist in marital dissolution matters in determining the value of the community interest and the sole and separate interest of retirement accounts.   There are several factors to consider when valuing these interests including the following:  1) the period of contributions to the account(s) versus the length of the marriage; …

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Determination of Income for Child Support: Consider Income Control When A Parent Holds an Interest in a Closely Held Business

When a parent has income generated from an ownership interest in a closely held corporation or partnership, it is important to determine how the earnings of the entity flow through to the parent.   Both Subchapter S-Corporations and Partnerships are pass-through entities.   The income or loss from operations flows through to the parent’s individual return based …

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Understating Income on Your Tax Return – Are You an Innocent Spouse?

When we are providing consulting services relating to a divorce, we are often asked to perform a business valuation and/or make a determination of income of one or both of the spouses for support purposes.   During the course of our work we will review and utilize the joint income tax returns of the parties.  It …

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Hidden Offshore Accounts – Come Clean Now

In the family law area of our practice, we are often asked to perform asset tracing or procedures to discover hidden assets. In some cases, a spouse may be specifically seeking to discover offshore accounts. Or in other cases, we are not engaged to search for hidden assets, but in the course of reviewing bank …

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Divorce Tips: Overlooked Marital Assets

Recently, we were court appointed to perform an analysis of income for the purpose of calculating child support and spousal maintenance. The parties had been divorced for almost two years and the “Husband” in the case was petitioning the Court for a reduction in spousal maintenance due to a decline in his earnings. Due to the …

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