San Francisco, California
London, United Kingdom
This month we will be analyzing a case study for a complex divorce case. The couple in their late 40’s has been married for 22 years with 2 teenage children in private school. The case has many characteristics that together make it a complex divorce: the couple has a high net worth with assets in the range of $11M to $12M; the couple owned a business which they sold; the husband is continuing in another business; the wife has limited financial knowledge.
The case study will address critical issues of lifestyle analysis, budget development, and tax due diligence. The case study will come together with a demonstration of the use of quickbooks as a forensics tool, tying together the tax with the lifestyle analyses. Finally the case will show how the forensics analysis influenced the proposals for asset division.
This session will be led by Lew Gack who has over 40 years of well diversified experience in both public accounting and private industry. Lew's professional credentials are Certified Public Accountant (CPA), Attorney (JD) and Certified Divorce Financial Analyst (CDFA). As a partner in a national public accounting firm, he serviced closely held family businesses, concentrating in attest functions and tax management on both business and personal levels. Lew has also spent time in developing expertise in non-profit organizations both in public accounting and as participant in major non profits in Massachusetts. He was Treasurer and Chairman of Associated Industries of Massachusetts (aimnet.org) and Treasurer and Chairman of the Boston Latin School Association (BLSA.org).
In private industry, Lew was the CFO of a large, closely held, distributor of alcoholic beverages. When the company was sold in 2006, it had over 1000 employees in 6 states and revenues of over $400 million.
As a CDFA, Lew helps divorcing clients address the special financial issues of divorce with data that can help achieve equitable results.
Lew also currently serves as a Director and Chair of the Audit Committee of Chase Corporation (CCF), a New York Stock Exchange company.
Notes for CE credit:
This presentation is rated as beginner for CFP Board credit and is submitted for 2 hours of credit. Prior experience in divorce financial analysis is assumed. No prior experience is assumed with forensics.
This program is submitted for 2 hour of CPA CE credit as Specialized Knowledge and Applications.