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Prevent Critical Mistakes in Asset Division

One of the largest, most complex aspects of divorce is the distribution of assets and debts. So many factors go into the final settlement that mistakes are common and potentially devastating to your client. How can you ensure that your client walks away with a fair portion of the marital estate? This legal course will combine our speakers' legal and financial expertise to give you the knowledge you'll need. You will not only learn to value the familial assets in the present, but also look into the past to determine how each spouse has contributed, and to the future to account for tax implications, changes in asset value, and spouses' earning potential. Don't miss this opportunity to build your skills - register today!

  • Avoid many of the costly asset division traps that can cause your clients to miss out on what they deserve.
  • Learn which key financial documents you'll need and what useful information they can yield.
  • Ensure a more favorable division of assets by accurately forecasting the spouses' future earning potential.
  • Effectively analyze tax records to locate any hidden or overlooked assets and income.
  • Review the many tricky tax issues that arise from asset transfer and make sure they don't eat into your client's share.
  • Resolve questions concerning student load debt and other debt division hurdles.
  • Efficiently handle changes in asset value between the dates of separation and the final decree.

  1. Failure to Obtain and Interpret all Financial Documents
    9:00 - 10:00, Robert S. Jones
    1. Income and Property Tax Returns
    2. Payroll Stubs and Other Income Information
    3. Banking Information
    4. Financial Statements and Loan Applications
    5. Stock, Bond, Mutual Fund and Other Investment Documents
    6. Employee Compensation Documents
    7. Gift Tax Returns
    8. Retirement Documents
    9. Probate/Estate Documents
  2. Inaccurate Valuation of Assets
    10:15 - 11:15, Graydon S. Price
    1. Valuing Active and Passive Assets
    2. Changes in Value
      1. Valuation Dates and State Laws
      2. Changes in Value Between Date of Separation and Trial
      3. Value at Time of Marriage Versus Time of Divorce
    3. Analyzing Tax Records to Find Hidden Assets and Income
  3. Failure to Consider Current and Future Income and Expenses
    11:15 - 12:00, Lewanna Bell-Lloyd
    1. The Cost of Divorce Itself
    2. Support Obligations
    3. Factoring in Prior Standard of Living
    4. Proving Future Earning Potential
    5. Retirement Accounts
    6. Investments
      1. Stock Options
      2. Stock Appreciation Rights
      3. Restricted Stock Options
    7. Government Pensions and Benefits
      1. Military Pensions and Deployment Bonuses
      2. State and Federal Pension Plans
    8. Tuition Expenses for Children
  4. Failure to Equitably Distribute Assets
    1:00 - 1:45, Lewanna Bell-Lloyd
    1. Sources of Marital Assets
    2. Spouses' Respective Contribution to Marital Assets
    3. Division of Real Estate and Other Property
    4. Settlements and Awards
      1. Personal Injury Awards
      2. Workers' Compensation Settlements
      3. Disability Awards
    5. Businesses and Ownership Interests
    6. Assets From Community Property States in Non-Community Property States
    7. Commingling of Premarital, Gifted and Inherited Property
    8. Traps to Avoid
  5. Tax Consequences After the Divorce
    1:45 - 2:30, Joseph W. Booth
    1. Tax-Free Asset Transfers
    2. Tax Loss Carry-Forward
    3. Taxable Gain in Divorce
    4. Taxation Issues With Spousal and Child Support
    5. Tax on Sale of the Marital Home and Other Real Estate Issues
      1. Foreclosures and Short Sales
    6. Record Keeping Requirements and IRS Circular 230
    7. IRS Implications for Back Taxes Owed
    8. The IRS Maintenance Recapture Rule
  6. Failure to Account for Debts
    2:45 - 3:30, Graydon S. Price
    1. Credit Card Debt
    2. Student Loan Debt and Questions Surrounding it
    3. Auto and Home Loans
    4. Refinancing Joint Loans
    5. Bankruptcy and Indemnity Clauses
    6. Prejudgment Allocation of Debt
  7. Ethical Considerations
    3:30 - 4:30, Joseph W. Booth
    1. Rules of Professional Conduct
    2. Conflicts of Interest
    3. Attorney Fees
    4. Confidentiality and Disclosure Issues

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