Individual Services

Maybe you feel that you do not need a full service divorce financial analysis. In that case, I can provide you with only what you or your attorney think you need to feel more comfortable with the financial implications of select aspects of your case. Some examples of individual services include:

  • Second opinion on division of assets and hidden taxes
  • Verify tax implications of retirement accounts
  • Construct a post-divorce budget
  • Identify the tax implications of a proposed Parenting Plan
  • Review a proposed Marital Disolution Agreement (MDA) for financial concerns
  • Determine income for child support purposes
  • Complete a marital lifestyle analysis
  • Estimate appropriate earnings forecasts for investment accounts
  • Explain investment account statements
  • Explain tax returns
  • Indentify indictions of possible hidden assets
  • Explain potential tax issues relative to real estate
  • Explain the differences between stock options, stock appreciations rights, restricted stock, executive savings, deferred income, and other executive compensation and related tax implications
  • Measure the impact of inflation upon future living expenses
  • Review insurance needs
  • Complete buyout calculation and/or property settlement notes
  • Illustrate the effective after tax values of a proposed division of property
  • Trace comingling and/or transmutation of separate assets
  • Illustrate a need for alimony
  • Illustrate the ability or inabilty to pay alimony
  • Analyze and illlustrate an equitable division of debt
  • Explain the meaning of all payroll deductions and/or all the different boxes and numbers on a W-2
  • Analyze income from a small closely-held business
  • Trace frequent movement of funds among accounts
  • Identify possible hidden taxes in investment accounts
  • Indicate issues relative to desirability of specific assets and investment holdings
  • Analyze investments and indicate equitable division of specific holdings within each account
  • Analyze brokerage accounts for indications of margin loans, option risks, unrealized gains and related taxes, and other issues of concern
  • Identify any tax recapture issues related to the marital home, rental real estate, business assets, equipment, etc.
  • Explain Social Security issues for divorced persons
  • Measure the tradeoff between retirement and non-retirement assets
  • How to avoid penalties if retirement plan withdrawals become necessary
  • How to pay off debt during and after the divorce process
  • Credit issues during and after divorce
  • Insurance issues during and after divorce
  • Identify indications of possible diversion of marital assets
  • How to avoid tax code violations and penalties due to the timing of alimony reductions
  • Explain the tax implications of assigning and allocating dependency deductions
  • Prepare a statement of net worth

You can see that this list is lengthy and varied. Please call, or have your attorney call, to discuss exactly what you might need to move ahead with your divorce and resolve whatever you find troubling or uncertain.



© 2015 Rosemary Frank Financial, LLC  Educational purposes only. No financial, legal or tax advice provided.


Dependent Children and Tax Benefits

The conversation regarding which parent should claim the children as dependents has changed dramatically since the recent tax reform, effective January 2018, eliminated the personal exemption. Yes, that $4,050 (in 2017) tax exemption per child is gone. Parents will not even get that exemption for themselves. This is causing extensive confusion among attorneys and clients alike. The Parenting Plan template has not been revised to reflect this and still contains an entire section dedicated to which...

Tax Reform Effects Upon divorce

The most significant tax reform in thirty years was signed into law December 22. With barely a week to understand how it impacts all open and future divorce cases, it became effective January 1, 2018, unless otherwise noted. Many of the provisions have sunset dates, upon which rules will revert to pre-2018, unless extended. Alimony, beginning January 1, 2019, will not be tax deductible for payer, nor taxable to the recipient. Modified orders, after that same effective date, will adhere to the...

Tax Overhaul Targets Alimony

Content of the Tax Cuts and Jobs Act (TCJA) was revealed last week and, as it now stands, alimony discussions will change dramatically. If approved in its current state, on this issue, going forward as of January 1, 2018, no alimony will be tax deductible for the payer, nor taxable to the recipient. This includes all alimony modifications made after January 1. All standing alimony orders will retain their current tax status for payer and recipient. The TCJA is the most sweeping tax reform proposed...