10 Big Divorce Financial Mistakes

#10: Mishandling the Pension QDRO & Elections

#9: Not Getting a Business Valuation to Save Money

#8: Being Cheap & Not Hiring a Forensic Accountant

https://youtube.com/watch?v=d3wsrz23UYo

#7: Ignoring Red Flags of Hidden Money

#6: Not Being Skeptical about Financial Documents

#5: Misunderstanding How Alimony is Calculated

#4: Not Valuing a Pension Interest

#3: Not Getting the Holy Grail of Divorce Documents

#2: Not Analyzing Claimed vs. Documented Income

#1: Not Getting Financial Disclosures Under Oath

For a much more detailed discussion of financial aspects of divorce, see The Forensic Accounting Deskbook: A Practical Guide to Financial Investigation and Analysis for Family Lawyers, Second Edition, authored by Miles Mason, Sr. JD, CPA and published by the ABA Family Law Section.  This updated edition of one the ABA’s most popular resources explains the practice of forensic accounting and business valuation and how to apply it in family law cases. It provides a practice-focused introduction to the core financial concepts in divorce, such as asset identification, classification, and valuation, income determination, expenses, and more.  Thank you to Tracy Coenen, CPA, CFF for inviting me to join her in this video series. Tracy is a nationally recognized forensic accountant practicing in Milwaukee and Chicago.