Divorce Cases: Uncovering Critical Information in Tax Returns and Financial Statements

Discovery Strategies, Analyzing Tax Returns and Financial Documents, Using Financial Experts

Note: CPE credit is not offered on this program

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, April 30, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide family law counsel with strategies to utilize tax returns and financial statements during divorce cases. The panel will focus on appropriate discovery methods to obtain information, explain how to get the most out your analysis of tax returns and financial documents, and outline the best approaches for using financial experts.

Description

Tax returns and financial statements contain valuable information from which to develop financial strategies during a divorce case. Family law counsel must be able to identify and leverage critical financial information contained in financial documents and personal and business tax return schedules.

Specific line items can provide counsel with the basis for drafting discovery requests to obtain critical information regarding financial resources of the marital estate. This information is also necessary to frame financial strategies and potential resolution strategies.

Counsel may need to work with financial professionals or forensic accountants to review business financials, including balance sheets, income statements, statements of cash flows, general ledgers, and accountant work papers. Counsel should be well-versed in ways to maximize the use of financial experts in the case.

Listen as our panel discusses the complexities involved in discovering critical information through an analysis of tax returns and financial documents, and identifies best practices for using accountants and other financial professionals.

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Outline

  1. Income tax returns
    1. 1040
    2. Schedules A, B, C, D, and E
    3. The 1120S for an S corporation
    4. 1065 for partnership income
  2. Financial statements
  3. Methods to obtain discovery
  4. Ways to use accountants and other financial experts

Benefits

The panel will review these and other key issues:

  • What are the critical data points for divorce counsel when looking at financial documents to determine parties' income and assets?
  • What items in tax returns and financial statements provide clues to income, assets, and debts?
  • What are best practices for leveraging financial experts and forensic accountants during the divorce action?

Faculty

Imel, Taylor
Taylor Toombs Imel

Shareholder
KoonsFuller

Houston family law attorney Taylor Imel is a natural competitor who knew from a very young age that she wanted to...  |  Read More

Judge, Michael
Michael P. Judge

Partner
Casner & Edwards

Mr. Judge focuses his practice on all aspects of settlement and trial of family law. Areas of concentration include...  |  Read More

Morrison, Wayne
Wayne Morrison

Of Counsel
Kessler & Solomiany

Mr. Morrison is experienced in handling complex divorce cases, child custody matters, support and alimony claims,...  |  Read More

Shilts, Josh
Josh Shilts, CPA/ABV/CFF/CGMA, CFE
President
Shilts CPA

Mr. Shilts provides law firms, corporations, individuals, trustees, receivers and government entities with expert...  |  Read More

Burkett, May
May Burkett

Attorney
KoonsFuller

Ms. Burkett focuses her entire legal practice on family matters, including but not limited to, complex property...  |  Read More

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