Forensic Analysis of Income and Property in Divorce
Keeping the Other Party Honest
Forensic Analysis of Income and Assets in Divorce
A fair divorce settlement depends on accurate valuations of assets and full disclosure of income and other property. If the other party is sheltering assets, underreporting income or filtering personal gains through a closely held business, they may have an unfair (and unlawful) edge in the marital property division.
Treneff Cozza Law, LLC is skilled at ferreting out the true value of any marital assets and keeping the other spouse honest in high-asset divorce and divorces involving business ownership. We know the red flags and where to look; we work with financial experts and forensic accountants as necessary, making sure that the playing field is level for both parties.
Our lawyers handle all aspects of divorce and property division, serving the Columbus area, Franklin County and central Ohio. Contact us today if you suspect “monkey business.”
Income Analysis in Property Division
A self-employed spouse may be underreporting income in order to pay less child support or alimony. If there is are no official tax records like W-2 forms, we can track actual income through the same methods the IRS would employ in an audit by examining deposits, expenditure patterns, credit card statements, and other financial transactions.
In a closely held company, the spouse may put personal charges on a company credit card, and pay the bill from a business account. Or there may be significant benefits to the individual passed off as expenses of the business, such as insurance, cars, travel or furniture. These gains are rightly added to the spouse’s income when we uncover them.
Forensic Analysis in Business Valuation
We have substantial experience in business valuation from many years in divorce law. As with personal income, accurate valuation depends on full disclosure of financial data. With doctor practices or family businesses, we often find that the spouse is not forthcoming about sales, expenses, income drawn from the business, and other critical information. We know which documents to demand under the civil rules of discovery to protect our clients.
In anticipation of divorce, spouses resort to many tricks to divert income or shield assets. We are wise to re-titling of assets, “gifts” to relatives, account transfers, manipulated transactions and other attempts to hide or liquidate assets.
Our firm has the resources and experience to keep the other side honest in property division, including the courtroom skills to depose other forensic experts or cross-examine them at trial. Arrange a consultation by calling 866-829-0717 or sending us an e-mail.