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Category: Divorce

November 29, 2021

How Tax Reform Affects Divorce Settlements for Small Business Owners

  How does the Tax Cuts and Jobs Act (TCJA) affect divorce settlements? Changes in the new law may require divorcing individuals — especially those who own businesses and other investments — to take a different approach to splitting assets and setting maintenance payments than under prior law. To illustrate, consider Pat and Chris, a hypothetical married couple who decided to file for divorce on Valentine’s Day 2019. Here’s an overview of several key issues they face. Business Tax Issues… Read more ›

October 2, 2020

Creating Financial Harmony: Living Together, Engaged & Newlyweds

by Abbie Niehoff, MPS, Divorce Financial Specialist, Councilor, Buchanan & Mitchell, P.C.  One of the most beneficial conversations you can have with your significant other is about money. As a divorce financial professional, I have seen numerous couples who ended their marriages for a plethora of reasons – one of the most common being money and the problems that arise from the lack of communication about their money. If they had a conversation early on in their relationship setting the… Read more ›

September 24, 2020

Navigating A Divorce During COVID-19

Authored By: Jane Ochsman Rowny, CPA, CFP®, CDFA® and Jordan P. Egert, CPA, CFE, CDFA® COVID-19 is likely to be with us for many months to come. The pandemic has created new uncertainties and financial stressors. Couples who have contemplated a split up may be reluctant to add to the stress and uncertainty by commencing with a divorce, however continuing to live in limbo unhappily may be an option couples may not want to accept. Whether you begin divorce proceedings… Read more ›

July 17, 2020

Jamie S. Siegal Joins CBM, Expanding the Firm’s Divorce Finance and Litigation Support Practice

PDF Version: Jamie Siegal Joins CBM, Expanding the Firm’s Divorce Finance and Litigation Support Practice Jamie S. Siegal, CPA, CDFA®, has joined Councilor, Buchanan & Mitchell, P.C. (CBM) as a divorce financial and litigation support manager, expanding the firm’s divorce services practice. She joined CBM’s divorce division team of six professionals at the firm to help clients navigate the complexities of financial planning and decision-making during divorce. She has expertise working to deliver the most favorable outcomes possible for clients… Read more ›

December 9, 2019

Collaborative Divorce: Not the Happily Ever-After You Were Looking For

The following article was written by Abbie Niehoff, financial planning and litigation support paralegal at Councilor, Buchanan & Mitchell. Abbie has several years’ of experience helping clients with the financial planning aspects of collaborative divorce. For more information about this article, or to contact Abbie or another member of CBM’s divorce financial planning team, please fill out this form.  When a person is walking down the aisle on their wedding day, the last thing on their mind is the possibility that… Read more ›

July 27, 2018

CBM Manager Jordan Egert Completes CPTI Training in Mediation and Collaborative Divorce

July 27, 2018 (Bethesda, MD & Washington, DC) – Jordan Egert CPA, CFE, CDFA®, litigation support manager at Councilor, Buchanan & Mitchell P.C. (CBM), completed mediation and collaborative training hosted by the Collaborative Practice Training Institute (CPTI), to refine his advocacy skills and enhance his ability to help clients involved in the collaborative practice. CPTI provides collaborative training to people of various occupations-from accountants, to lawyers and mental health professionals-who help clients solve disputes as professionally and respectfully as possible…. Read more ›

June 12, 2018

You’re Getting Divorced – Are Your Assets Accounted For?

Two unions are formed when becoming wed: 1. Personal 2. Financial Over my years in the forensic accounting field I have, unfortunately, witnessed many divorce proceedings primarily focus on the personal union with mere basic attention to the financial union (i.e. filing a financial affidavit, assets and liability schedules, and compute alimony and child support guidelines). This can cause insurmountable determents to the parties involved! The financial union of individuals must be looked at as a business. Are all the… Read more ›

June 8, 2018

How Much House is Really Yours? Non‐Marital and Marital Home Equity in Divorce

Concerns over equity have historically been discussed in divorce proceedings ‐ but often from a high‐level view with reliance on loosely assembled information. While practical in decades past, I am witnessing a shift and demand for tighter, supplemental micro‐level analysis as home values and equity continue to sharply rise. Determining equity claims was once easy; twenty percent down, eighty percent financing and a house was paid off in thirty years. Armed with an original HUD closing statement, professionals could sort… Read more ›

June 6, 2018

Your Best Financial Resource in Divorce – The Forensic Expert Behind the Scenes

Your team is in the courtroom. The judge asks how your values and assumptions were determined. Your team responds with a loose explanation, little back up support, and notes your information came solely from your client’s testimony. The judge asks the same question to opposing council. “We relied on certified financial experts. Please see reports ABC, line items DEF, and exhibit XYZ. Information has been obtained and validated from third party sources and noted on the supplied index. The expert’s… Read more ›

April 24, 2018

CBM to Present on the Role of a Financial Neutral in Family and Civil Collaborative Cases

Jane Ochsman Rowny, principal at CBM, will present to the Bar Association of Montgomery County’s Collaborative Law section on April 24, 2018 from 12 noon to 1 pm. The topic, the role of a financial neutral in family and civil collaborative cases, reflects’ CBM’s expertise in this area. CBM partners with attorneys, social workers, counselors and other industry professionals to facilitate the separation of couples while managing the legal, financial and emotional components of the dissolution of their marriage outside… Read more ›