By Chrissie A. Powers, CPA/CFF, CFE, CVA
Divorce rates are on the rise in the United States and attorneys are retaining CPA's to assist them in complex financial issues. CPA's are engaged typically as a consultant or expert witness in Family Law matters. Divorces are an emotional event as the parties often are hostile or seeking revenge. The CPA must render an unbiased opinion and act in the best interest of the client and the court.
The types of services that CPA's perform in Family Law Matters include: spousal support calculations, preparing the Statement of Assets, Liabilities and Net Worth, identifying and tracing separate property, and determining true economic income. Often times the CPA may be required to value a closely held business, too.
The CPA must use her expertise to communicate to the client and the court, helping them to understand the complex tax laws or other accounting issues at hand. The CPA may assist the attorney during negotiations in reaching a settlement; provide deposition or testimony at court. Contact Chrissie A. Powers, CPA/CFF, CFE, CVA to learn more about how she can help with marital dissolutions / divorce at 614-745-5192.