Divorces that involve self-employed spouses present challenges in proving their income. At Alpine Family Law formerly O'Brian & Associates, our attorneys attend to every detail in their fact-finding, especially when it comes to marital dissolutions that involve a spouse allegedly hiding income. Challenges exist. However, we strive to overcome the obstacles you face when going through an uncertain time of your life.
Give us a call today to arrange a confidential consultation about your specific case. From our main office in Redmond Town Center, we serve clients in Eastside communities and throughout Greater Seattle.
Self-Employed Spouses In Divorce And The Challenges That Exist
The Income and Expense Declaration (a/k/a Financial Declaration) requires accurate information. The document is used in filing for spousal support — also known as alimony — or child support. Without the benefit of a W-2, self-employed spouses have to provide a Profit and Loss statement for the prior 12 months and Schedule Cs for the previous two tax filings.
While discovery is a time-consuming process, proving a self-employed spouse's income during the divorce process is vital. Bank statements and business documents, including ledgers and financial statements, can help to complete the pictures.
Fact-Finding And The Need For Experts
Teaming with a forensic accountant helps us get to the facts regarding a spouse's income or a company's value. Skilled in looking at all documents, the financial expert can determine the actual income versus the claimed income.
In-depth investigations and the help of experts take time and money. However, getting to the facts can be a wise investment for both you and your children.
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