Top Reasons To Use A CPA During A Divorce
The primary reasons to use a CPA during a Divorce includes: 1) to determine the present value of certain assets; 2) to perform non-marital tracing of retirement account assets such as a 401k or 403b, and 3) to prepare cash flow and tax scenarios. Present value calculations can be difficult, although the use of a neutral CPA greatly simplifies the process for the parties. Non-marital claims related to retirement accounts, businesses and real estate may also require the assistance of a CPA. Spousal maintenance (alimony) is another area where the use a CPA is often required to address cash flow, financial ratios and formulas and the marital standard of living of the parties in the case.
During a Divorce, it is vital to hire an experienced attorney who specializes in Divorce and Family Law, and who can properly address complex legal issues during the case, including complex financial issues such as spousal maintenance, present value analysis of assets (including 401k, 403b, pensions, ESOP, and other retirement accounts), preparation of complex balance sheets, the discovery of hidden assets, analysis of Federal, Minnesota, Corporate and Partnership tax returns, high asset brokerage and financial portfolio asset review, and a firm understanding of equitable division as it applies to Minnesota divorce cases.
Your Divorce will be handled with assertiveness, precision and attention to detail from the inception of the case to the conclusion of the case. This is our commitment and promise to you, the client.
Located in the historic Linden Hills neighborhood of Minneapolis, Lake Harriet Law Office provides experienced and personalized legal representation exclusively in the area of Family Law – we do not represent clients in other practice areas.
It is important to have an experienced and assertive attorney who can effectively advocate your position during the case and who understands every phase of the Family Law legal process. Most Divorce cases are resolved after the Initial Case Management Conference but before the Trial. The more willing the parties are to participate in ADR processes, the more likely it is the case will settle during the early stages.
Lake Harriet Law Office represents clients in Minneapolis, Edina, Bloomington, Golden Valley, Hopkins, Eden Prairie, Southwest Minneapolis, Linden Hills, Plymouth, Hennepin County, Ramsey County, St. Paul, Wright County, Anoka County and Scott County.
Please call 612-750-4843 or complete the Contact Us form to schedule an office consultation.