A University of Minnesota professor made national news in September when he was convicted of providing his wife with several forged papers as part of their divorce. These documents reduced the stated size of their retirement account from the actual amount of $891,116...
High Asset Divorce
Undisclosed assets could impact post-divorce financial future
Divorce is a complex process, especially when there are significant assets and wealth at stake. High-asset divorces often involve disputes and contention regarding the appropriate distribution of wealth, and consequently, one spouse may consider hiding assets. Hidden...
Who gets to keep the ring if the engagement is called off?
It seems that engagement rings used to be more modest in size. Recent years, however, have seen a major shift where the ring is one part of a destination wedding on an isolated beach in the Caribbean or a big-ticket hometown wedding. The process of planning and paying...
College professor convicted of trying to hide retirement funds
Part of the process of filing for divorce is creating a list of marital and individual assets. Ideally, the spouses and their lawyers can look at the list and draft a fair and equitable arrangement. While it may be tempting for one side to try to withhold "their...
Guns N’ Roses guitarist structures a unique divorce settlement
Family law attorneys are a crucial part of any negotiation involving divorce, custody and other common areas addressed during a couple’s split. However, clients must also consider their own priorities during this process. While a judge has to make the final...
New tax law to eliminate tax break for alimony payments
The changes to the tax code will eliminate a break for those who pay alimony. The old system allowed those who paid alimony (also called spousal maintenance) to deduct that amount from their income taxes. The change goes into effect in 2019, but any agreement signed...
Wall Street exec to pay $4.1 million before trial begins
Anyone who has gone through divorce knows that it is never as easy or straightforward as it could be. Moreover, divorce involves many financial challenges for couples who have large and complicated estates. An extreme example of this is when an appellate court judge...
5 Steps that can make divorce less fiscally painful
The circumstances for a divorce generally involve feelings of anger, sadness and frustration. These are valid feelings, but it is also important to remember that there are a number of strategies that can enable people to look out for their financial welfare. Marriage...
Mistakes can be costly when dividing an IRA
Couples will often split up an IRA as part of a divorce agreement. While getting divorced can be challenging or downright unpleasant, additional financial mistakes can make the process even more painful. A Michigan couple recently found this out when it lost a case...
Divorce has major challenges when you own a startup
Most people think of Silicon Valley as the home of the startup, but New York can give them a run for their money. Many New Yorkers have embraced the startup lifestyle by founding and running their own businesses. As any entrepreneur can tell you, running a startup can...