Different Ways to Find No Claim to Enhanced Value of Nonmarital Asset
Berg v. Young, 2015 Fla. App., LEXIS 13077 (Sept. 2, 2015) In a Florida divorce case, the trial court heard copious expert testimony on the value of the husband’s interest in a car dealership. The dispute turned on the validity and interpretation of the parties’...
Compare and Contrast the Republican and Democratic Tax Platforms
Now that both major political party conventions are finally behind us, it's time to focus on the upcoming national election. Among their many differences, the Republicans and Democrats have widely divergent tax platforms. It's good to know what tax positions the two...
How Synergy Affects Price
When selling a business, did you know there are some buyers who would be willing to pay a premium above the fair market value of the business on a controlling basis? These are strategic (or synergistic) buyers, and might include competitors looking to build market...
Do You Own a Vacation Rental Home with Limited Personal Use?
Vacation properties in Maine are subject to different federal income tax rules depending on how much personal and rental use they have during the year. Now is a good time to plan how to use your Maine vacation property for the rest of this year with tax savings in...
Reduce Contention and Cost in a Divorce with a Joint Appraiser
Determining the value of the business interest to include in the marital estate can be one of the most time-consuming and contentious issues when a business owner is getting a divorce. Rather than hire separate experts to argue it out in court, many spouses opt to...
‘Reasonably Equivalent Value’ Analysis Meets FMV Standard
In re Mercury Cos., 2015 Bank. LEXIS 3443 (Oct. 9, 2015) (In re Mercury II) After filing for Chapter 11 bankruptcy, the plaintiff claimed the sale of certain subsidiaries to the defendant entities was an avoidable fraudulent transfer. The Bankruptcy Court considered...
Utility Bills Can Unlock Secrets
It's often necessary to uncover money during legal proceedings like divorce or bankruptcy, by conducting a financial investigation to expose hidden assets, fraud or embezzlement. Unfortunately, the paper trail of hidden assets isn't always clear and it takes a...
It’s Time to Review Your Financial Planning Options
One of the best times to pause and review your financial planning strategy is Fall. A lot can happen in a year. You may need to revise your long-term financial plans if your personal life, market conditions or tax laws have changed. Here are some retirement and estate...
Tracking Plastic Spending Accounts for Hidden Assets
Cash is the most difficult item to trace when a bankruptcy or divorce case involves embezzlement, fraud, defalcation, or hidden assets. It's interchangeable and leaves no record of ownership or transfer if kept outside of the banking system. It’s very rare that we...
FAQs about Social Security Retirement Benefits
The Social Security system has been questioned by people for years. In June, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. It projects that the combined asset reserves of the...