Edited by Jana Aune Deach, Stephen G. Dennis, Thomas W. Harjes & Karen T. Kugler
A talented group of attorneys and financial experts with specialized knowledge of the financial implications of divorce and other family law matters have contributed insight to the Family Law Financial Deskbook. It is a one-stop guide to determining gross income, tracing assets, valuing businesses and real estate, tax planning, calculating child support and maintenance, avoiding mistakes when dealing with the financial aspects of divorce, and more. Enhanced by practice tips and author’s notes – making it feel as though the experts are right there in the office – the Family Law Financial Deskbook is the most user-friendly, comprehensive authority on financial matters related to divorce.
With replacement pages for 18 of the Deskbook’s 20 chapters, the 2018 Update to the Family Law Financial Deskbook brings you the latest Minnesota case law and legislative developments. This update includes extensive coverage of the Tax Cuts and Jobs Act of 2017 and its important impact on family law cases, the changes to the parenting expense adjustment for child support, and so much more! The update brings your Deskbook fully up-to-date, saving you valuable time otherwise lost to research and allowing you to devote more of your resources to assisting clients. Order yours today!
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Introduction; Overview of Child Support in Minnesota; What is Child Support?; Income Defined; Computation of Child Support; Tax Dependency Exemptions; Spousal Maintenance and Its Effect on Child Support; Unique Situations; Deviation from Guideline Support; Modification of Child Support; Six Month Review; Cost of Living Adjustments; Overpayments; Past Child Support and Child Support Arrears; Retroactivity of Order; Uniform Interstate Family Support Act (Jurisdiction Issues); Child Support Enforcement and Security Upon Death; Conclusion; Appendix A – Forms; Appendix B – Child Support Guidelines Worksheets; Appendix C – Significant Changes to Chapter 518A
– Karen T. Kugler, Laurie A. Mack, Lymari J. Santana & Lauren Schnobrich
Spousal Maintenance is Statutory, But…; Is there a Case for Spousal Maintenance?; Determining the Amount of Spousal Maintenance; Determining the Duration of Spousal Maintenance; Special Considerations in the Amount and Duration of Spousal Maintenance; Modification of Spousal Maintenance
– Susan C. Rhode & Lisa T. Spencer
Determining Gross Income for Maintenance and Support
What is Income for Support Purposes?; Types of Income Relevant to Determining Spousal Maintenance and Child Support; Issues Specific to Child Support; Income Tax Issues; Other Considerations; Court Cases; Practice Aids; Appendix A – Pay Stub; Appendix B – Individual Tax Return; Appendix C – S Corporation Tax Return; Appendix D – Partnership Tax Return; Appendix E – Schedule of After-Tax Cash Flow; Appendix F – Self Employed Individual, Income for Support Purposes
– Karen Kritta
Advanced Property and Maintenance Issues
Introduction; Valuation Date: Unequal Property Divisions – When and How Are They Appropriate Under the Law?; Lump-Sum Spousal Maintenance Payments; Interrelationship Between Property Divisions and Lump-Sum Spousal Maintenance; Approaches to Settlement: The Big Pictures – Do Not Forget Creativity; Conclusion: Final Important Practice Tips; Appendix A – Bench & Bar Examples of Disproportionate Property Divisions, Lump-Sum Maintenance, or Buyouts of Spousal Maintenance; Appendix B – Exploring Different Approaches to Settlement
– Jana Aune Deach & Brittney M. Miller
Pension Valuation and Division in Divorce
Types of Retirement Plans; Types of Defined Benefit Pension Plans; Types of Employers that Offer Defined Benefit Pension Plans; Defined Benefit Plans – Actuarial and Other Considerations
– Jill M. Urdahl
QDROs and Treatment of Fringe Benefits in Divorce
Retirement Benefits – Qualified Retirement Plans; Company-Sponsored Life Insurance; COBRA; Qualified Medical Child Support Order; Cafeteria Plans; Nonqualified Deferred Compensation Plans; Health Savings Accounts; Appendix A – Procedures Upon Receipt of a Proposed QDRO; Appendix B – Sample QDRO
– Debra J. Linder
Advanced Issues in Pension and Benefits Division
Introduction; Employer’s Financial Status; Survivor Benefits; QDRO Timing; IRA Division; Miscellaneous Retirement Issues; Health Coverage; Appendix A – IRA Letter of Instruction Sample Form
– Thomas M. Hughes
Real Estate Valuation and Division
Introduction; What the Attorney Needs to Know; Defining the Valuation Purpose; Determining the Date of Value; Understanding and Using Uniform Standards of Professional Appraisal Practice; Highest and Best Use of the Property; The Approaches to Value; Report Reconciliation; Other Considerations in Marriage Dissolutions; Valuing a Partial (Fractional) Interest in Real Estate; Attorney Preparation and Selection of Appraiser; Litigation Involving Real Estate Values; The Use of Neutrals in Divorce Cases; Making the Appraisal More Persuasive; Conclusion; Appendix A – Standards Rules and Report Comparison Chart
– William C. Herber & Robert J. Strachota
Business Valuation and Division
Introduction; Valuation Date; Standard of Value; Factors Affecting Value; Analysis Framework – Financial Statement Adjustments; Valuation Approaches; Valuation Premiums and Discounts; Other Valuation Issues in the Divorce Context
– Jennifer L. Loeffler & Patrick K. Schmidt
Advanced Issues in Business Valuation and Division
Introduction; Minnesota’s Seminal Valuation Case: Nardini v. Nardini, 414 N.W.2d 184 (Minn. 1987); Personal Versus Professional (Business) Goodwill; The Impact of a Buy-Sell Agreement; Key Person Discount; Effect of Built-In Income Taxes; Nonmarital Issues Related to Business Interests; Special Issues Related to Pass-Through Entities; Should a Business Owner Be Protected from a Possible “Double Dip?”; Common Mistakes Lawyers Make When Dealing with Business Valuation Issues; Other Valuation Issues; Appendix A – Revenue Ruling 59-60, 1959-1 C.B. 237, I.R.C. § 2031
– Andrew F. Brower & Stephen G. Dennis
Tax Issues for Family Lawyers
Introduction; Tax Planning Related to the Dependency Exemption; Tax Planning Related to the Child Tax Credit; Tax Planning Related to Head of Household Filing Status; Tax Planning Related to Family Support; Valuation of Property and Discounts for Taxes; Tax Principles Related to Property Divisions; Other Tax Issues; Appendix A - Alimony Recapture Calculation
– Stephen G. Dennis, Mitchell A. Hiley & Bret Van Norman
Nonmarital Claims and Tracing
Introduction; Statutory Definitions; Case Law Definitions – Increase in Value; Burden of Proof; Character of Nonmarital Property – Tracing Issues; Invading Nonmarital Property; Conclusion
– Thomas W. Harjes & Ben M. Henschel
Financial Issues in Antenuptial and Postnuptial Agreements
Introduction; Minnesota Statutory Basis and Requirements; Minnesota Case Law on Spousal Maintenance and Attorney’s Fees; Reasons for an Antenuptial and/or a Postnuptial Agreement; Drafting the Antenuptial or Postnuptial Agreement; Amending or Revoking Antenuptial or Postnuptial Agreements; Execution of the Antenuptial or Postnuptial Agreement; Enforcing/Challenging Antenuptial or Postnuptial Agreements; Conclusion
– Gloria S. Myre & James J. Vedder
Treatment of Equity-Based Awards in Divorce
Equity-Based Compensation – Generally; Types of Equity-Based Compensation Awards; Eligibility for Awards; Common Provisions of Awards; Stock Options; Restricted Stock; Stock Appreciation Rights; Restrictions on Transferability; Tax Treatment; Issues in Divorce; Practical Suggestions; Appendix A – Gross Income Transfers of Property Incident to Divorce: Revenue Ruling 2002-22, Internal Revenue Bulletin 2002-19 at 849; Appendix B – Federal Insurance Contributions Act (FICA), Options and Deferred Compensation Transfer on Divorce: Revenue Ruling 2004-60, Internal Revenue Bulletin 2004-24 at 1051; Appendix C – I.R.S. Private Letter Ruling 13030-04 (2005)
– Elizabeth Bryant & Debra J. Linder
Financial Issues in Farm Divorces
Initial Considerations – Financial Viability; Discovery; Valuation Date; Proving Value – Evidence of Value; Nonmarital Claims; Agricultural Produce – Income or Asset?; Farm-Related Debt; Bankruptcy; Tax Issues; Taxes and Tax Rates; Tax Planning; Providing Tax Consequences; Child Support and Maintenance; Temporary Relief; Division of Assets and Liabilities; Disproportionate Property Division; Post-Trial Considerations; Conclusion
– Raymond Walz
Financial Discovery and Submissions
Introduction; Financial Discovery; Financial Submissions to the Court; Appendix A – Sworn Statement of Assets, Liabilities and Income; Appendix B – Interrogatories; Appendix C – Request for Production of Documents; Appendix D – Request for Admissions; Appendix E – Notice of Taking Deposition; Appendix F – Notice of Motion And Motion; Appendix G – Parenting/Financial Disclosure Statement
– Elizabeth Bryant
Bankruptcy and Divorce
Introduction to Bankruptcy Law; Types of Bankruptcy; Types of Claims; Property of the Estate; Exemptions; The Automatic Stay; Discharge and Dischargeability; The Intersection Between Bankruptcy and Family Law; Practical Tips for Family Law Practitioners; Conclusion; Appendix A – Property Individual Debtors Can Shield from Judgments and Collections in Bankruptcy
– Kenneth Corey-Edstrom
Working With Financial Experts
When to Use a Financial Expert; Should a Party Use Their Own Expert or a Neutral Expert?; Court-Appointed Neutral Experts; Expert Reports and Files; Discovery of Expert Information; Discovery of Attorney’s Communications to Experts; Deposing the Opposing Expert; Trial Overview; Direct Examination of Experts; Cross-Examination of Experts; Appendix A – Sample Order Appointing Rule 706 Expert; Appendix B – Sample Order Appointing Rule 706 Expert
– Alan C. Eidsness & Jaime Driggs
Family Law and the Military
Introduction; Determining Active Service; Commencing the Divorce Action; Spousal and Family Support Regulations; Child Custody; Retirement Calculations and Other Property Division; Disability Compensation Issues; Survivor Benefit Plan; Military Pension Division Orders; Other Pension Issues; Appendix A – Servicemember’s Affidavit for Stay of Proceedings; Appendix B – Servicemembers Civil Relief Act Waiver of Rights; Appendix C – Army National Guard Retirement Points History Statement; Appendix D – Active Duty Military Pension Order; Appendix E – Retirement Benefits Court Order
– Johanna Clyborne
Introduction; Programs for Social Security Disability Benefits; The Process of Obtaining Social Security Disability Benefits; How to Qualify for Social Security Disability Benefits; Short-Term Disability; Social Security Benefits for Children; The Effect of Spousal Maintenance on Social Security Benefits; Social Security and Child Support; Loss of Social Security Disability Benefits; Evidence Found in a Social Security Disability File; Back Pay and Other Assets Attributable to Social Security; Overpayments; Social Security Retirement Benefits; Derivative Benefits for Former Spouses; Social Security and Special Needs Children; Collecting Social Spousal Maintenance and Child Support from Social Security Benefits; Social Security Legal Resources; Appendix A – Physical Functional Capacity Assessment Form; Appendix B – Mental Residual Functional Capacity Assessment Form; Appendix C – Medicaid Eligibility Determination by State
– Karen T. Kugler
Table of Authorities
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