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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #21  
Old 09-12-2013, 04:20 PM
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plainNamedDad44 plainNamedDad44 is offline
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Originally Posted by dinkyface View Post
The amount of interest on the sale proceeds would depend on how she ACTUALLY invested it, and it would factor into the NEXT year's CS. She would be free to buy and hold a bunch of growth stocks that pay NO income. Or put it into a GIC that pays 2% interest.
Is there not a chance that an income is imputed if she chooses to generate no income from these funds ?
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Old 09-12-2013, 04:21 PM
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Originally Posted by plainNamedDad44 View Post
Is there not a chance that an income is imputed if she chooses to generate no income from these funds ?
Very possible.
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  #23  
Old 09-12-2013, 04:27 PM
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Originally Posted by Karver View Post
Of course those properties have also been receiving dividends and rental income, which I've never seen a penny of. Ugh. I've talked to regular accountants, but I guess they can be argued against. I guess I gotta push for this forensic accountant to get a final verdict.
who owns the property, if him, your SOL, sorry. I am in the same boat, and I build the property. I put in her name, so its hers right now, so she gets all rental income.
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Old 09-12-2013, 08:53 PM
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Again this is Business law not Family law. Unfortunately when the two collide it's a big mess.
I would definitely agree with that statement but generally even if the business is just a series of assets with income generated from ownership, there should be a valuation.

Once its understand what the net value of the business actually is then you can try to come to a reasonable agreement on how to split. The best way to do this is probably to have your lawyer refer you to a good accountant/tax advisor who can give you some advice on the implications of the different choices. But the first step is to understand the asset.

Income property is a fairly standard type of business so I'm sure it wouldn't be hard for an accountant to give you some good advice here. You're kind of in the weeds until you go to one. It sounds like your lawyer should be pushing for proper disclosure though. Its unclear from your post whether you have that and you do need it.

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But this guy just went through his separation under the same circumstances, except that he didn't fight the law.
There's more than one way to equalize this though so if I were you...first I'd understand the value of the asset...then I'd get some advice on the varying types of settlement offers you could make based on what's most beneficial to you from both an equalization and support basis. You may not need to go the route of hiring a forensic accountant if he discloses...just a certified one will do...and will be a lot cheaper. Forensic accountants are expensive and are generally used when there's a willful lack of disclosure.
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