Not everyone who gets married stays married. And often, the tax advisor is in the thick of settlement negotiations! This seminar provides comprehensive coverage of those things a tax advisor must know in order to serve clients who are terminating (or planning to terminate) marriage relationships. Learn how to work with clients and their attorneys to maximize after-tax cash available for settlement, assure recognition of value in marital assets, draft convincing settlement proposals, and present information to mediators and judges.
DESIGNED FOR
Tax practitioners who want to provide valuable services as advisors and expert witnesses in divorce proceedings.
BENEFITS
- Identify opportunities for tax savings in divorce settlements
- Analyze accounting and tax issues in divorce proceedings
- Avoid common errors that have adverse tax consequences
- Determine the rights of divorcing spouses in benefit plans
- Prepare exhibits for settlement negotiations
- Communicate your information clearly to mediators and judges
- Apportion joint items to separate returns
HIGHLIGHTS
- Lawyer’s concept of advocacy versus cooperation on tax issues
- Identification of marital assets
- Valuation of closely held business interests
- Typical pre-divorce tactics by people trying to obscure the facts or hide assets
- Hidden after-tax asset values
- Marital home and the Section 121 exclusion
- Alimony, child support, property division and transfers
- Qualified Domestic Relations Orders (QDRO) - allocations of qualified plan benefits and/or assets
- Innocent Spouse rules
- The joys of a well-negotiated settlement
COURSE LEVEL
Intermediate
PREREQUISITES
None
ADVANCE PREPARATION
None