This presentation was delivered by Karolina Calhoun, CPA/ABV/CFF at the AICPA 2018 Forensic & Valuation Services Conference.
Learning objectives include:
- Identify and Classify Assets & Liabilities to include on marital and separate balance sheets:
- Examine documentation and accuracy of the support
- Assemble relevant information:
- Current accounts (bank, brokerage) vs long-term compensation accounts (401k, pensions, etc.)
- Evaluate monthly budget for each spouse:
- Compare/contrast spouse’s budgets
- Evaluate the payor’s ability to support and the payee’s need for support:
- Lifestyle analysis comes into play here as the historical expenses may be used as a basis for monthly budget, however, depending on the finances, may or may not be supported post-divorce
- Lifestyle analysis also provides the ability to measure the division of net worth at date of divorce and future net worth accumulation over time
