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 video webinar with Q&A


Conducted on Thursday, April 29, 2021

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 of 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 identify and leverage critical financial information 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 the marital estate's financial resources. 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 of 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
    5. W-2
    6. K-1s
  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

Allen, William
William P. Allen

Partner
Brisbane Consulting Group

Mr. Allen provides business valuation, forensic accounting, and litigation support services. His valuation experience...  |  Read More

Gottlieb, Mark
Mark S. Gottlieb, CPA/ABV/CFF, ASA, CVA, CBA, MST

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Mark S. Gottlieb, CPA

Mr. Gottlieb leads his team of highly qualified professionals in conducting forensic accounting investigations,...  |  Read More

Shaknes, Valentina
Valentina Shaknes

Partner
Krauss Shaknes Tallentire & Messeri

Ms. Shaknes is a founding partner at KSTM. Since graduating from law school, she has practiced exclusively matrimonial...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. All formats include program handouts.

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