Family law cases involving complex financial issues often require the assistance of a financial expert for the following issues: Preparing a financial disclosure, including creating a marital balance sheet Comparing balance sheets from period-to-period to evaluate changes in assets and liabilities Analyzing financial disclosures or affidavits prepared by the spouses …
How do I come up with a fixed fee for a forensic accounting engagement? I’ve been doing fixed fees for 18 years, so I’ve developed a pretty good formula. With a fixed fee, a client is paying for a result, rather than buying my time. In most of my cases, …
Some family law attorneys are reluctant to retain forensic accountants in their cases. Money may be a factor, but sometimes the need for an outside expert is not clear. While law firms may have paralegals or attorneys on staff who are very knowledgeable about financial issues, the outside forensic accountant …
The culmination of a financial expert’s work in a divorce or child support case is the expert report. This is followed by testimony, at deposition and possibly trial. The process of reporting and testifying should not be taken lightly, as these tasks make the financial analysis come to life. The …
Nearly all of my work is done under fixed fee arrangements. My client and I determine the scope of a project (what documents will be used, what analysis will be done, what time period is covered, etc.) and I quote them a fixed fee for my analysis and expert report. …
What sources of income are commonly included when calculating spousal support in a divorce case? While the specifics vary by jurisdiction, in general the courts will commonly consider: wages, investment income, business income, rental income, and royalties. Tracy talks in this video about why it is important to have a …
In this short video, Tracy talks about some of the services a forensic accountant could provide in a bankruptcy case. These services could include: Tracing of funds through bank accounts Looking for hidden income and assets Evaluating expenditures to determine whether they were proper (as it relates to the bankruptcy) …
A financial expert’s assistance with the discovery process can be invaluable to the family law attorney. By virtue of the expert’s familiarity with personal and business financial documents, the financial expert can play an important role in the discovery process. He or she can help with the following: Determining which …
A competent expert witness is vital to cases involving economic damages and other financial calculations. However, the expert must be much more than just a mathematician, market analyst, economic guru or forensic accountant. The job of the expert is far from over once the facts are analyzed and the calculations …
An expert witness can provide services in litigation as either a consultant or a testifying expert. Tracy explains the difference, and talks about being very careful as a consultant, in the event that you are later required to provide testimony.
