Cheryl Hynes
speaker
26 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Cheryl Hynes’s voice in public audio — every appearance, attributed to the second.
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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.
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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.
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.
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.
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
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.
Brandy alleges that there was not just romantic infidelity, but financial infidelity that happened throughout the divorce process. Here she is.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Excuse me?
I don't think I've ever been speechless on this show.
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