How Can A CPA Help My Divorce

How Can A CPA Help My Divorce

The complex situation of a divorce is never easy, and most couples will seek out a legal firm that can help them reduce the anxiety and stress that naturally result. A divorce involves the litigation process, the dividing of assets and taxation of investments. While a divorce attorney may specialize in both out-of-court settlements and lawsuits when necessary, a CPA’s assistance is often necessary for the proper dividing of substantial assets and issues related to taxation. Those who are in a divorce that will involve substantial assets and taxation issues should seriously consider working with a CPA.

Chicago lawyer on finding money

My friend, Russell Knight, has opened up a solo general practice. He is both a divorce lawyer and criminal defense lawyer. In his blog Russell recommends doing a criminal background check on your spouse at the beginning of a divorce:

By presenting this [evidence of a criminal record] to the judge, an attorney is able to wake the judge out of his or her “he-said-she-said stupor” and begin portraying their client as the good guy and the other party as the bad guy.

Recession and divorce

Time.com has a an great article titled Will the Market Kill Your Marriage? that discusses why economic recessions increase divorce rates. Possible theories include:

  • Lack of money exposes fundamental flaws in the marriage,
  • Couples who had fundamental differences about money now have irreconcilable differences about it, and
  • Financial worries cause stress, stress causes depression, and depression causes divorce.

The most interesting quote of the article:

A study that correlated Playboy centerfolds with market conditions found that men like fuller-figured women more in lean times than in boom times. The APA study showed that when stressed, women liked to eat. Bingo!