Tag: Greenwich Attorney

Should a Financial Forensic Evaluator be Retained in My Divorce Case ?

This Week’s Blog by Carole T. Orland

Should a Financial Forensic Evaluator be Retained in My Divorce Case ?

What is a financial forensic evaluator?

A financial forensic evaluator is typically an individual with certain certifications and qualifications who is educated and trained to analyze financial information in your divorce case. This may include, for example, an analysis of income, or valuation of various assets such as privately held businesses, equity awards, private equity and hedge fund interests, and other alternative investments.

When should a financial forensic evaluator become involved in my divorce case?

Usually a financial forensic evaluator should be retained as soon as counsel recognizes that there may be valuation issues in your divorce case. The evaluator can assist in fashioning pertinent discovery requests and responses. Occasionally there are circumstances where one party will wait to see the other party’s analysis and valuation. A seasoned divorce attorney will be able to guide you through these strategic situations.

Can the parties hire one neutral financial forensic evaluator?

This is possible. In some divorce cases the party will agree on one neutral financial forensic evaluator and further agree to be bound by the conclusions of that expert. In other cases, parties may agree to start with a neutral but retain the right to hire his or her own evaluator, should he/she disagree with the neutral’s evaluation.

What types of documents will the financial forensic evaluator want?

In the case of an income analysis, the forensic financial evaluator may want to review tax returns, pay stubs, year-end pay statements, statements from credit card and bank/brokerage accounts, and employment contracts. With regard to business assets, the financial forensic evaluator will want to look at such items as Profit and Loss Statements, Balance Sheets, General Ledgers, Partnership Agreements, Operating Agreements, corporate/partnership tax returns, K-1s, and business accounts. In the case of alternative investments, it will be important to review documents such as Operating Agreements, investor correspondence and Private Placement Memoranda. And for equity awards such as stock options, RSUs, and Phantom Equity awards, items such as vesting schedules, agreements, and plan documents will require review.

Can I expect the financial forensic evaluator to prepare a report?

Whether a report is to be prepared is up to the party hiring the financial forensic evaluator. Again, experienced divorce counsel will be able to guide you on this aspect of litigation.

Will the financial forensic evaluator testify at my divorce trial?

Typically yes, unless there is an agreement that his or her valuation is stipulated to by the other party or the parties work out a compromise valuation. In order to testify as an expert, a party must formally disclose that expert in advance in accordance with Connecticut Practice Book Rules.

Can the financial forensic evaluator assist my divorce case in other ways?

Absolutely! And most commonly with discovery, depositions, analyzing the opposing party’s valuation, Proposed Orders for the Court, and trial preparation. Ideally he/she will assist in settlement negotiations and a resolution of your divorce case without the need for a trial.

At Broder & Orland LLC with offices in Westport and Greenwich, Connecticut we have extensive experience working with financial forensic evaluators in all facets of divorce litigation.

Should I Hire a Private Investigator for my Connecticut Divorce?

This Week’s Blog by Jaime S. Dursht

Private investigation of issues in a high conflict divorce can be extremely helpful and an efficient method of fact gathering prior to and during a divorce, as well as post-dissolution.

How Can I Locate Hidden Assets?

A private investigator may uncover jointly held assets that were wrongfully transferred into solely held accounts, which is prohibited in Connecticut upon initiation of a divorce action.  It is not uncommon for a spouse to suspect that funds are being diverted into undisclosed assets. An investigator can help with finding them and your attorney may in turn seek a court order to restore the funds or account for them at the conclusion of the divorce.

How do I Track Improper Transfers?

An experienced private investigator may be able to search databases and records to identify wrongful financial conduct.  In a Connecticut divorce, expenditures made by a spouse for a purpose outside of the marriage (such as gambling or an affair) can often be quantified and may in some cases constitute what is called a dissipation claim for the other spouse to receive a credit when assets are divided.  Having a trained professional obtain this information rather than doing it yourself may be critical to the process of presenting evidence later to ensure admissibility because wrongfully obtained information may be ruled inadmissible in court proceedings. 

How do I Catch my Cheating Spouse?

A picture is worth a thousand words.  In some cases, a picture or video surveillance of a spouse’s conduct can be used in a variety of ways, not just proof of infidelity.  For example, to show the spouse who is claiming inability to be gainfully employed pictured on the golf course or at the casino on a week day.  Sometimes the situation is reversed, and a spouse wants to know whether s/he is being tracked, surveilled or hacked by the other.  A private investigator can conduct a sweep of the residence, vehicle, phone and computer to find out.

How can I Prove Cohabitation?

A former spouse paying alimony finds out that the recipient spouse is in a relationship and needs to know whether it is to the level warranting a reduction or termination of alimony payments under the cohabitation statute.  Cohabitation requires proof of living together and a measurable economic benefit to the alimony recipient.  “Living together” does not necessarily mean residing together under the same roof at a single address.  A court can find that spending several nights a week together satisfies the requirement, depending on the situation.  Surveillance is one of the best ways to demonstrate the actual time spent together.

How do I Prove a Parent is Unfit?

In a custody action, one parent may want to show that the other parent is not appropriately parenting, for example, driving the children in a vehicle without car seats/restraints, or driving them while under the influence.  Perhaps surveillance would show that the parent on duty left small children unattended at a park or other public place or perhaps show permissive behavior such as allowing teens to drink alcohol or smoke marijuana.

Another reality for divorcing parents includes the introduction by a spouse of his/her romantic partner to the children.  Sometimes a good way to alleviate some anxiety in this situation is to have a private investigator run a background check on the romantic partner.

Whatever the situation, the attorneys at Broder & Orland LLC with offices in Westport and Greenwich, have significant experience involving private investigators in developing the right legal strategy to optimize the desired result whether financial or custodial.

Second Opinions in Connecticut Divorce Cases

This Week’s Blog by Carole T. Orland

Is it Appropriate to Get a Second Opinion in my Divorce Case? 

Divorce litigation is difficult. It’s costly both emotionally and financially. It is not uncommon for clients to feel overwhelmed by the process and at times disenchanted with their attorneys. Given that your divorce is one of the most impactful events in your life, you want to get it right. And sometimes, that means getting a second opinion just as you would for example, when it comes to medical care.

What Can I Expect From a Second Opinion? 

Often the second opinion will be confirmatory. If you have wisely chosen your divorce attorney, likely he or she has done everything consistent with your best interests. Eliciting a second opinion from another well respected attorney will make you feel more comfortable that your divorce is on the right path. Sometimes a second opinion with a well qualified attorney will enlighten you as to alternative approaches creative solutions, or issues that require attention.

Should I Discuss Getting a Second Opinion with my Current Divorce Attorney? 

Ideally, if you think a second opinion is warranted, you should discuss it with your current attorney instead of circumventing him or her. Seasoned attorneys have confidence in their abilities but also recognize that there are times when another set of well-trained eyes on your case can be very constructive. There may even be situations where your current divorce attorney will suggest that you get another opinion. You should consider the recommendation that you do so in the best light, not as a signal that your attorney is giving up on you.

What Information Should I Provide to the Second Opinion Attorney? 

When you meet with an attorney for a second opinion you should make sure to provide that attorney in advance with as much information as you can in order for that meeting to be meaningful. This might include, for example: pleadings, Financial Affidavits, Case Management Agreements, any Court rulings, Briefs and Memoranda of Law, Pre-Trial Conference memoranda, reports of experts, appraisals, discovery responses, custody and psychological evaluations, financial documents, settlement offers, and pertinent correspondence.

Schedule enough time with the second opinion attorney to be able to discuss all of the issues. It will also be helpful for you to bring your own written agenda items in order to address all your concerns. Make sure to take notes during the meeting. If you don’t understand something, ask again until you do. Leave the meeting with a clear understanding of all the items you wanted to discuss.

What Should I do After Receiving a Second Opinion?

Make an appointment with your current attorney to review what you have learned. Again, make sure there is enough time to discuss it all. Bring your notes with you. Remember, the point is not to challenge your attorney but to augment what both of you have previously addressed.

In most cases, if you carefully choose your initial attorney and then your second opinion attorney, you will find that you will want to stay with your original choice. While there is added cost to seeking another opinion, it is typically minimal compared to the overall cost of your case and really terrific value in that it will round out your knowledge, set you on a clearer path, and make you feel more comfortable.

If seeking a second opinion causes you to have concerns about continuing with your current attorney, you should discuss that with him or her in a very straightforward manner. Be up front about why you want to change attorneys and request that your attorney cooperate with successor counsel, whether it’s the second opinion attorney you met with or someone else. Do make sure to settle any outstanding bill with your current attorney before moving on. He or she may have a right to retain your file until you do so, but beyond that, it is the right thing to do and will start off your representation with your new attorney on the right foot.

At Broder & Orland LLC we recognize that certain divorce clients may want to seek a second opinion and on occasion we even initiate the suggestion that they do so. In certain cases we also provide second opinions with an appropriate protocol in place.