Financial Issues in Divorce – Taxation, Valuation, Equalization: Navigating Potential Asset and Income Obstacles in Divorce Negotiations

Description

The MSBA Department of Learning and Publications is offering an all new presentation Financial Issues in Divorce – Taxation, Valuation, Equalization: Navigating Potential Asset and Income Obstacles in Divorce Negotiations on Thursday, January 30, 2020 at the Ecker Business Center in Columbia, MD!

Let us help you walk through the trifold landmines of taxation, valuation and equalization and develop a clearer understanding of how financial concepts and nuances can impact outcomes.

Gain expert advice from our faculty panel that includes:
Jamie S. Lapin, CFP®, CDFA®, AIF® , Harry B. Siegel, Managing Partner, The Law Office of Harry B. Siegel, Lynette A. Whitfield, Attorney at Law, Law Office of Lynette A. Whitfield, Brian Sacks, Branch Manager., Mortgage Loan Originator, CDLP, Homebridge, Larry Pullen, Principal, Ellin & Tucker and The Hon. Diane O. Leasure (Ret.)

4.0 hours of CLE credit will be offered by the surrounding MCLE states. If you cannot join us in Columbia, the program will be webcast live concurrently, and available online on-demand a 5-10 business days after the program.

(Jamie Lapin offers securities through H. Beck, Inc. Member FINRA, SIPC. Investment Advisory Services are offered through Risk Management Group LLC, 14 S. Adams Street, Rockville, MD 20850 (301) 838-4111. H. Beck, Inc. is unaffiliated with Risk Management Group LLC and MSBA.)

Course Level
TBD
Professional Area of Focus
Family Law
CLE Field of Study
Continuing Education Legal Credit
4.0
Instructor(s)
Jamie Lapin Harry Siegel Lynette Whitfield Diane Leasure Larry Pullen Brian Sacks
Location
 
Ecker Business Training Center
6751 Columbia Gateway Dr
Columbia, MD 21046 US
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When
Jan 30, 2020
9:00 am - 1:30 pm EST
Location
Ecker Business Training Center
6751 Columbia Gateway Dr
Columbia, MD 21046 US
Total CPE Credits
4.0
Format
In-Person + Webcast Live
Instructors
Multiple

Agenda

Day 1

01/30/2020
9:00 am
Registration and Continental Breakfast
9:30 am
Welcome and Introductions
9:45 am
Talking About the Various Stages of the Divorce Process
  1. Divorce Planning
  2.  Pre-litigation

a. You and your client 

b. The 4-way meeting 

3. Emergency Financial Issues 

4. Mediation 

5. The Pendente Lite Hearing 

6. Trial 

10:30 am
Preparing for Trial
  1. The Pendente Lite Hearing 
  2. The Divorce Trial 
  3. The Modification Trial 

Preparing for Mediation/Collaboration: Choosing Your Mediator Wisely – Understand 

What You Can Get at Mediation That You Cannot Get at Trial 

  1. Case Studies/Examples/Processes
  2. Retirement
  3. Financial Expert/Other Financially Related Experts / Building a “Bench”
  4. How to Defend/ Critique the Other Side’s Experts
  5. Discounts/ Multipliers/ Authority

Some Areas Don’t Overlap in Attorney/Judge Need to Know

  1. College Costs/Loans/Accounts
  2. Life Insurance with/without Cash Value
  3. Tax Deductions/Credits?
  4. SS (back door)
  5. Specific Devices (world bank, RR)
  6. Disability as Asset/Income for Alimony, Child Support

Introducing Creativity into the Process  

  1. Every Family is Different
  2. Opportunities Provided by Cooperation
11:15 am
Break
11:30 am
Identifying Additional Experts
  1. QDROs 
  1. Mortgages 
  1. Business Valuation 
  1. Tax Issues 

 

Evaluating and Critiquing the Other Side’s Experts and Financial Case 

  1. Case Studies of Missed Opportunities, Assets and Other Issues 
12:15 pm
The Relationship Between Divorce Attorney and Financial Expert
  1. The Many Hats of the Financial Expert
    1. Introductory information exchange – Teach attorneys how to identify/ use expert resources
    2. Defining the scope
      • Starts with financial expert to create scope
      • CPA vs planner
      • Helps case, with financial planning, retirement, without planning, FAFSA, not all have same scope
      • Financial planning for divorce vs general financial planning
      • Self-dealing/ethics (fiduciary)
  2. Retirement Assets and Financial Statements – What you Don’t Know Will Hurt Your Client – and You
    1. The four horsemen of the divorce apocalypse
      • What you earn
      • What you spend
      • What you own
      • What you owe
  3. The 4 Aspects of Divisible Assets
    1. Income
    2. Non-retirement
    3. Retirement
    4. Real property
    5. Under oath not a requirement 
  4. Communicating by Financial Statement
    1. Importance of footnotes
    2. Timeliness of information
    3. Past, present and future as components of a financial statement 
    4. Who pays? How much?
    5. Now vs later
    6. Real vs “fat”
      • The mac and cheese budget vs marriage at its peak
    7. Only evidence the judge sees in advance
    8. “Unknown” as an option
    9. Issues vs. numbers
    10. Short/long form
    11. Multiple financial statements (past/present/future)
  5. Introducing Financial Planning into the Process: Cash, Property, Retirement and Businesses – Making the Right Mix Work 
  6. College – A 4 Letter Word at Trial, But Often the Second Biggest Expense Next to a House
  7. Introducing Wealth Management in the Process
1:00 pm
Closing Remarks, Q and A, Program Adjourns

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Financial Issues in Divorce – Taxation, Valuation, Equalization: Navigating Potential Asset and Income Obstacles in Divorce Negotiations