Traditional Divorce vs. Collaborative Divorce
Divorce comes with a high price tag, both financially and emotionally, regardless of the steps that are taken between filing the divorce papers and signing off on the final documents. Except for the death of a loved one, divorce is life’s most emotional and psychologically impactful experience. When compounded with financial pressures, child issues, and the legal battle in general, divorce can often become more than one can bear. However, collaborative divorce is an alternative [...]
History of Collaborative Divorce
Written for & posted on the professional website Collaborative Divorce Institute of Tampa Bay “Collaborative Divorce is a relatively new approach. The concept was first birthed in the early 1990s when lawyers finally realized that divorce is not a legal issue; it is a personal relationship issue that has legal attachments. Prior to the 1990s, all divorce cases were generally handled the same way – each side was viewed as an adversary, the husband and wife would [...]
Quick Divorce Facts
Divorce rates remain about 50 percent for first-time marriages in the United States, with approximately 3.5 to 5 percent of all marriages ending every year. Additionally, as reported in divorcestatistics.org, the divorce rate increases to over 60% for second marriages and over 70% for third marriages. Sadly, two out of three marriages ending in divorce in the United States include families with minor children in the home. (Source: divorceguide.com) […]
Divorce Valuation: Active vs. Passive Appreciation
In divorce cases, attorneys will often call upon a business valuation expert to distinguish between “active” and “passive” appreciation when deciding how certain spousal assets should be divided and allocated. The difference is crucial. A spouse’s interest in a closely-held business often represents the most valuable asset he or she owns and is also often the most complex to value for dissolution purposes, particularly if the spouse owned the business interest prior to marriage. In [...]
Message to Deliver
The year was 1912 and Theodore Roosevelt was campaigning for re-election. By the evening of October 14 his campaign had carried him to Milwaukee, Wisconsin where he was to deliver a speech in the city’s public auditorium. As he was leaving his hotel to be driven to the auditorium, a saloon keeper named John Shrank, approached Roosevelt with his pistol and fired a bullet into Roosevelt’s chest, knocking him down. As bystanders subdued the gunman, [...]
Role of the Forensic Accountant in Divorce
The forensic accountant in divorce cases is charged with requesting, gathering, analyzing and evaluating financial data provided by the spouses and their attorneys and then communicating his or her findings. Specifically, forensic accounting assignments may include the following: […]
Divorce Forensics: The Search for Hidden Income
When going through a divorce, in is not uncommon for the parties to hire a valuation expert, often at the direction of their attorneys, to assist them with the process of dividing marital assets. This is especially true when one or both of the individuals involved have business ownership interests. As emotions can lead people to act “out of character”, doing things that they normally would not do, hidden income can become a major issue [...]
Collaborative Divorce: Five Advantages and the Forensic Accountant’s Role
There are many advantages offered a divorcing couple who choose to go through the collaborative divorce process as opposed to the traditional litigious divorce process. The forensic accountant involved can play a key role in each of these advantages. The following lists five key reasons why collaborative divorce can be a more advantageous process. […]
Collaborative Divorce: The Peaceful Alternative to the Combative Court System
Collaborative Divorce is an alternative divorce process that prevents you from having to go to court and litigate your case. Collaborative Divorce replaces the adversarial and combative legal system with an approach that permits people to resolve their disputes respectfully and without the hostility and anger often caused by litigation. The parties and their attorneys sign a Participation Agreement committing to resolve all divorce issues through cooperation and negotiation, and not litigation. This is accomplished [...]
Variable Annuities: Pros and Cons
No investment product has created so much controversy and evoked so much criticism as the variable annuity. The truth is, variable annuity products are as diverse as the agencies and individuals who sell them. However, there are several pros and cons common to most variable annuity products in existence today: […]