Cheryl Hynes
Appearances
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Excuse me?
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
I don't think I've ever been speechless on this show.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
For good measure.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
A little over a year ago, I had Brandi Glenville of The Real Housewives of Beverly Hills on the show to talk about splitting up relationships and splitting up assets. Brandi was married to an actor who had an affair with another married actor, but I'm not here for the gossip. I'm here to talk financial infidelity. The definition of financial infidelity is simple.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Now, don't get me wrong. I don't want to scare you. This isn't a who did I marry rerun. Financial infidelity does not happen in every relationship, but it does happen. And no matter what, it's always smart to have your own back. For today's tip, you can take straight to the bank. Forensic accountants, of course, are not free.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
William Kirby Law puts the cost of a forensic accountant at around $300 to $500 an hour, and on average over $3,000 for a divorce case. Unlike some other types of lawyering, where a person who loses the case has to pay for everyone's legal fees, the person who foots the bill for a forensic accountant is simply the person who wants to hire them.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
However, you can stipulate in a prenup the terms of payment around a forensic accountant if you do want to adopt a clause that says something like, Whoever in the relationship does some sketchy financial shit, they have to pay for the forensic accountant. You'll need to translate that into legalese, but you get the gist. Money Rehab is a production of Money News Network.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Levoy. Our researcher is Emily Holmes. Do you need some money rehab? And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com to potentially have your questions answered on the show or even have a one-on-one intervention with me.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
And follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
It happens when one spouse lies to another spouse about money in a significant and or harmful way. This can be particularly nasty and damaging in a divorce when couples need to look at each other financially naked, so to speak, to divvy up assets.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
when one person suspects their spouse of financial infidelity during the divorce process they might call up a forensic accountant an accountant who specializes in following money trails that have been intentionally obscured today you're going to be hearing from a forensic accountant cheryl hines to talk about what she actually does the red flags that could mean financial infidelity and ways spouses hide assets from the other during a separation
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
And I know what you might be thinking. Any type of accountant, even if it's a forensic accountant, is boring. Cheryl is certainly not that. She even told me about some of the wildest cases she's worked on, and they are wild, which you'll hear about later. But first, I want to stick with Brandy.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Brandy alleges that there was not just romantic infidelity, but financial infidelity that happened throughout the divorce process. Here she is.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
One of the things I really love about my work is the fact that I can do it from anywhere. Getting a change of scenery can really help inspire creativity in my work and has once or twice or maybe more cured my writer's block. Being away for work, for fun, or for both is a perfect opportunity to host your space on Airbnb.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
There's an actual term for this, divorce planning. To explain, you're going to hear from Cheryl Hines, a forensic accountant. Here she is.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Of course, I had to ask. WTF is sudden asset deficiency syndrome. It sounds like something I would definitely take a sick day from. There's another word, though, for this genre of phenomenon called intentional impoverishment that you might recognize from Brandy's story. Here's Cheryl's description.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
That way, not only do you get to experience a new part of the world, but you're also making money while you're doing it. And if you think hosting is overwhelming, I have a solve for you. With Airbnb's co-host network, it is easier than ever before to host. Now you can hire a high-quality local co-host to take care of your home and your guests.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
In cases of intentional impoverishment, there is some recourse for the spouse who's trying to prove the financial hardship is by design. In that scenario, a judge could impute income to the spouse who is making that case, meaning that spouse would get money that is equal to what they could have earned if the other spouse hadn't chosen to not act to realize potential income.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Meaning that spouse could get money that is equal to what they could have earned if the other spouse hadn't chosen to not act to realize potential income. Brandy did actually hire a forensic accountant through her process, but it didn't provide the answer she was looking for.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Beyond getting a forensic accountant, there are other ways you can accomplish what Brandy was trying to do, which was to disprove lowball estimates of income and net worth. One of Cheryl's favorites is to look at other places spouses have had to talk up their income that have nothing to do with the divorce. Here's an example.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
They can do everything from creating your listing to managing reservations to messaging guests and providing on-site support. They can even help with design and styling. Also, by hosting on Airbnb, you can become part of another family's story, maybe even their hero. As you know, I stayed in an Airbnb for months when my house burned down, and I truly do not know what I would have done otherwise.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
Hold onto your wallets. Money Rehab will be right back. And now for some more money rehab. Listening to Brandy describe her situation and then hearing the most common red flag Cheryl sees in her work was really eerie.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
It simultaneously breaks my heart and boils my blood to see people take advantage of the trust their partners have in them. But of course, trust isn't inherently bad. It's the foundation of any healthy relationship. But you do need the tools to be able to fact check the information you've been given.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
And if something isn't feeling right, you need to know where to look to validate or override that feeling. Because in some relationships, financial infidelity is premeditated, right? It's called divorce planning. That means there will be money moves that happen pre-divorce. If alarm bells are ringing, here are some things to look out for.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
So if you've got a secondary property or an extended trip coming up and you need a little help hosting while you're away, you could hire a co-host to do the work for you. Find a co-host at airbnb.com slash host. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab.
Money Rehab with Nicole Lapin
Uncovering Financial Infidelity with a Forensic Accountant and Brandi Glanville's Real Story
I mentioned that Cheryl had told me some of her wildest stories from her years as a forensic accountant. Here was one that blew my mind.