Divorce Cases: Uncovering Critical Information in Tax Returns and Financial Statements
Discovery Strategies, Analyzing Tax Returns and Financial Documents, Using Financial Experts
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
Intermediate
- work Practice Area
Family Law
- event Date
Tuesday, October 24, 2023
- schedule Time
1:00 p.m. ET./10:00 a.m. PT
- timer Program Length
90 minutes
-
This 90-minute webinar is eligible in most states for 1.5 CLE credits.
This CLE course will provide family law counsel with strategies to utilize tax returns and financial statements during a divorce case. 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.
Mr. Gottlieb is an attorney, certified public accountant, and has earned a master’s degree in forensic accounting. He has represented private equity firms, public companies, and their portfolio companies in cases involving failed mergers, fraud, contractual disputes, including cases in the Delaware Chancery Court. Prior to joining MSG, Mr. Gottlieb worked as a corporate governance & litigation associate at Brown Rudnick LLP , Bernstein Litowitz Berger & Grossmann LLP, and Young Conaway Stargatt & Taylor LLP. He was as a health law and policy fellow at Brooklyn Law School and as a judicial intern for the Honorable James d'Auguste of the New York State Supreme Court, Civil Division.
Mr. Gottlieb leads his team of highly qualified professionals in conducting forensic accounting investigations, independent business and professional practice valuations, calculations of enhanced earnings capacity relating to professional licenses and degrees, and a continuum of financial and economic analyses.
Mr. Miles is a manager responsible for valuation, forensic accounting, and litigation support services for Brisbane Consulting Group, a wholly-owned subsidiary of Lumsden McCormick. He has prior public accounting experience working in the tax department of a Syracuse CPA firm and has commercial sales experience working for an automotive firm for more than five years.
Tax returns and financial statements contain valuable information to develop financial strategies during a divorce case. Family law counsel must identify and leverage critical financial details 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 analyzing tax returns and financial documents and identifies best practices for using accountants and other financial professionals.
- Income tax returns
- 1040
- Schedules A, B, C, D, and E
- The 1120S for an S corporation
- 1065 for partnership income
- W-2
- K-1s
- Financial statements
- Methods to obtain discovery
- Ways to use accountants and other financial experts
The panel will review these and other key issues:
- When looking at financial documents to determine parties' income and assets, what are the critical data points for divorce counsel?
- 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?
