Forensic Accountant
speaker
30 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Forensic Accountant’s voice in public audio — every appearance, attributed to the second.
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When I hear divorce planning, I think about somebody whose marriage has been on the rocks for multiple years. And you have no idea why these people are staying together. Well, it could be that one person is trying to restructure their finances so that when they do file for divorce, typically that would be like a second or a third marriage.
Not so often on the first one, unless they have a family history where they've seen divorce over and over and over. but they structure their finances and financial planning and everything else so that the picture they paint when they ultimately do file or when the other spouse files is not a favorable one. So, you know, that way they get to keep whatever it is that they're trying to hide.
There's also another couple terms that are related to divorce planning I'm going to throw at you. One is sudden income deficiency, SIDS. And the other one is SADS, sudden asset deficiency syndrome. And they kind of go with it. There's probably no end, though, to the possibilities for divorce planning if somebody really wants to hide it. And there are ways to counteract it, which in my case...
I try to find out when things started going bad in the marriage. And I assume at that point that one of the spouses or possibly both started moving assets around.
Intentional impoverishment is something that you're going to see, and it really is a shame when it comes up, where one of the parties is so bitter for the other that they would rather
intentionally take some action or inaction that's going to result in them having less income than they normally would have available just because they don't want to share it and it's it's really a shame when you see it fortunately for me i don't have to do anything when i do see it other than flag it to the attorney and say hey you may want to find out what's happening here possibly bring in a vocational expert let them determine what this fella or ladies
income really should be based on their level of experience and education and so forth.
This is great. Like, say, for example, loan application. And I'm not trying to rip this out of the headlines. Absolutely not. One of my favorite tools is the loan application. Because in that case, you're looking for how much income are you telling the bank that you make? What's it substantiated by? And for the business owner, what are you saying the business is worth?
I've had cases forever where they're doing what's called puffing, where you're inflating the numbers. because you want to get that good loan, right? That you can't really afford. I've also had cases where for some reason they're diminishing what their assets and their net worth is on a loan application. Still never figured out why, but I have seen that.
So that's probably the best example of third-party documentation.
For me, the big one is always when I hear from somebody that you don't need to worry about that. Or even better yet, it's complicated. It'll be too hard to explain to you. Let me just take care of it. So why are you not willing to share with me something that may affect both of us?
And if the answer seems complicated and it doesn't inherently feel like it should be complicated, it's because there's a layer there that they're inserting as a barrier and the barrier shouldn't be there.
Isn't there a change in how the financial assets are being accumulated? Did we suddenly go from having direct deposits and now we're receiving checks? Another fan favorite, because it's really not that creative, what people think it is, is they're going to switch from either having minimal federal tax withholding to maximizing the federal tax withholding.
thinking that they're going to file a separate return from their soon-to-be ex, and they're going to get to hide all that money and keep that tax refund for themselves. Nope, not going to happen. So we just have to look at what's changed. He's bringing home less money. Let's look at a piece though. Let's see if maybe he's putting more into a 401k. It could be anything.
I had a business owner who sold his business to his CPA. And we knew the transaction was bogus. Spouse knew it was bogus. All the paperwork lined up and we couldn't prove it. And it was really super frustrating.
so karma caught up to him though because what happened was after the divorce was settled etc the business owner went back to his cpa and said hey um i'm going to give you back your check and you know let me have my business back and the accountant got a really bad case of amnesia and said what no that was a real transaction so business owner and his spouse got back together ultimately over this
And they sued him and they did eventually get their business back.
Karma, baby. And it actually got crazier. And I've got three cases that were pretty epic. I hired a hitman to kill his wife.
Hitman was a cop, as it always is. And, you know, when he did that, then she files for divorce, blah, blah, blah, blah, blah, blah. While he's in jail, he hires another hitman, not to kill just her. But to kill the attorney, the forensic accountant, that's me,
who's, oh yeah, who's coming up with all the crazy, you know, all the stuff that she's going to be able to take away from him if this divorce goes through. Dude, you're in jail for like 25 years. You can wave a goodbye, right? And he was actually caught a second time for soliciting the hitman from jail. So the craziest part of that is he wanted proof that the attorney was dead
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