Live Seminar

Divorce Law: Common Mistakes in Dividing Assets

Seminar

Date:

Wednesday, March 14, 2018

Time:

9:00 AM - 4:30 PM

Product ID#:

78205ER

Location:

Holiday Inn Express & Suites Charleston-Southridge

95 RHL Blvd

South Charleston, WV 25309

$349.00

$339 / Each Additional

Registration Includes Course Book

Credit Information

Continuing Legal Education

  • OH CLE - 6.00
  • WV CLE - 7.20

CPE for Accountants

  • CPE for Accountants/NASBA - 7.00

Other

  • Financial Planners - 7.00
  • Institute for Divorce Financial Analysts - 6.00
  • NALA - 6.00
  • NFPA

Program Description

Prevent Critical Mistakes in Asset Division

One of the largest, most complex aspects of divorce is the distribution of assets and debts. So many factors go into the final settlement that mistakes are common and potentially devastating to your client. How can you ensure that your client walks away with a fair portion of the marital estate? This legal course will combine our speakers' legal and financial expertise to give you the knowledge you'll need. Learn how to value familial assets in the present; determine how each spouse has contributed in the past; and account for future tax implications and changes in asset value. Don't miss this opportunity to build your skills - register today!

  • Avoid many of the costly asset division traps that can cause your clients to miss out on what they deserve.
  • Learn which key financial documents you'll need and how to review them for critical information.
  • Effectively analyze tax records to locate any hidden or overlooked assets and income.
  • Review the many tricky tax issues that arise from asset transfer, and make sure they don't eat into your client's share.
  • Resolve questions concerning student loan debt and other debt-division hurdles.
  • Efficiently handle changes in asset value between the dates of separation and the final decree.

Who Should Attend

This basic-to-intermediate level seminar on avoiding critical mistakes in asset division during divorce is for attorneys. Divorce financial planners/analysts, accountants, enrolled agents, and paralegals will also find it useful.

Course Content

  1. Failure to Obtain and Interpret All Financial Documents
  2. Inaccurate Valuation of Assets
  3. Failure to Account for Debts
  4. Failure to Equitably Distribute Assets
  5. Tax Consequences After the Divorce

Continuing Education Credit

Continuing Legal Education

Credit Hrs State
CLE 6.00 -  OH
CLE 7.20 -  WV

Financial Planners – Financial Planners: 7.00

Institute for Divorce Financial Analysts – Institute for Divorce Financial Analysts: 6.00

National Association of Legal Assistants, Inc. – NALA: 6.00

National Association of State Boards of Accountancy – CPE for Accountants/NASBA: 7.00 *

National Federation of Paralegal Associations, Inc. – NFPA


* denotes specialty credits

Agenda / Content Covered

  1. Failure to Obtain and Interpret All Financial Documents
    9:00 - 10:15, Paige Flanigan
    1. Income and Property Tax Returns
    2. Payroll Stubs and Other Income Information
    3. Banking Information
    4. Financial Statements and Loan Applications
    5. Stock, Bond, Mutual Fund and Other Investment Documents
    6. Employee Compensation Documents
    7. Gift Tax Returns
    8. Retirement Documents
    9. Probate/Estate Documents
  2. Inaccurate Valuation of Assets
    10:30 - 11:45, Andrew S. Nason
    1. Valuing Active and Passive Assets
    2. Changes in Value
      1. Valuation Dates and State Laws
      2. Changes in Value Between Date of Separation and Trial
      3. Value at Time of Marriage Versus Time of Divorce
    3. Analyzing Tax Records to Find Hidden Assets and Income
  3. Failure to Account for Debts
    12:45 - 2:00, Andrew S. Nason
    1. Credit Card Debt
    2. Student Loan Debt and Questions Surrounding It
    3. Auto and Home Loans
    4. Refinancing Joint Loans
    5. Bankruptcy and Indemnity Clauses
    6. Prejudgment Allocation of Debt
  4. Failure to Equitably Distribute Assets
    2:00 - 3:15, C. Page Hamrick III
    1. Sources of Marital Assets
    2. Spouses' Respective Contribution to Marital Assets
    3. Division of Real Estate and Other Property
    4. Settlements and Awards
      1. Personal Injury Awards
      2. Workers' Compensation Settlements
      3. Disability Awards
    5. Businesses and Ownership Interests
    6. Assets From Community Property States in Non-Community Property States
    7. Commingling of Premarital, Gifted and Inherited Property
    8. Traps to Avoid
  5. Tax Consequences After the Divorce
    3:30 - 4:30, C. Page Hamrick III
    1. Tax-Free Asset Transfers
    2. Tax Loss Carry-Forward
    3. Taxable Gain in Divorce
    4. Taxation Issues With Spousal and Child Support
    5. Tax on Sale of the Marital Home and Other Real Estate Issues
      1. Foreclosures and Short Sales
    6. Recordkeeping Requirements and IRS Circular 230
    7. IRS Implications for Back Taxes Owed
    8. The IRS Maintenance Recapture Rule

PAIGE FLANIGAN is an attorney with Flanigan Law Office, where she focuses her practice in the area of family law issues, particularly divorce and custody. She is a former president of the West Virginia Association for Justice. Ms. Flanigan earned her B.A. degree from Concord University and her J.D. degree from Ohio Northern University.

C. PAGE HAMRICK III, J.D., CPA, is the principal of the Charleston law firm of C. Page Hamrick III, Attorney at Law. Mr. Hamrick has concentrated his practice in the areas of divorce law, tax and corporate estate law. He has served as a family law master, as assistant attorney general, as counsel to the West Virginia Legislature and as a hearing officer for numerous state agencies. Mr. Hamrick is a certified public accountant and frequently writes and speaks on state and federal taxation topics as they relate to divorce. He has testified as an expert witness in matters involving federal and state tax, financial analysis and real estate. Mr. Hamrick is a member of The West Virginia State Bar, the American Association of Attorney-CPAs and the West Virginia Society of Certified Public Accountants. Mr. Hamrick regularly teaches tax and law courses at Marshall University and has taught accounting at West Virginia University-Tech. He earned his B.S.B.A. and J.D. degrees from West Virginia University, and his M.B.A. degree from the Marshall University (formerly WVCOGS).

ANDREW S. NASON is a partner in the Charleston law firm of Pepper & Nason. He has argued cases before the West Virginia Supreme Court of Appeals, has conducted jury trials on various civil and criminal cases, and has litigated numerous cases and appeals. Mr. Nason has been very active in bankruptcy matters, particularly in Chapter 13 Wage Earner cases. He has been a frequent speaker at dozens of seminars on bankruptcy over the last 15 years. Mr. Nason is past chairman of the Bankruptcy Committee of The West Virginia State Bar and is the current chair of the Family Law Committee and has served on the Board of Directors of the Legal Aid Society. He was counsel for the debtor in the Monterra Development case, a lengthy and complicated Chapter 11 proceeding which eventually resulted in a payout to all creditors in excess of $20,000,000. Mr. Nason has been counsel in hundreds of domestic relations cases. He has been named in the Best Lawyers in America publication since 2001. Mr. Nason earned his B.A. degree, with honors, from the University of Michigan and his J.D. degree from the University of North Carolina.

Please refer to Continuing Education Credit FAQ for general information about seeking credit for your participation in one of our continuing education programs.

Additionally, our team of credit specialists are here to answer your specific credit-related questions weekdays 7am - 5pm Central:

Phone: 866-240-1890

Email: credit@nbi-sems.com

Accreditation Details:

Continuing Legal Education

OH CLE: 6.00
This course has been approved by the Ohio Supreme Court Commission on Continuing Legal Education for 6.0 CLE credit hours, including 0.0 hour of attorney professional conduct instruction.


WV CLE: 7.20
This program qualifies for 7.2 hours of credit, which includes 0.0 hour of ethics, under the West Virginia Rules for Mandatory Continuing Legal Education.


Financial Planners

N CF: 7.00
This program has been accepted by the Certified Financial Planner Board of Standards Inc. and qualifies for 7.0 hours of CE credit for CFP® Certificants. The Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and CFP® (with plaque design) and CFP® (with flame design) in the US, which it awards to individuals who successfully complete initial and ongoing certification requirements.

Upon completion of this course, attendees should be able to: 1. Identify three financial documents that are important for clients to provide. 2. State a method for handling changes in asset value between the time of separation and divorce. 3. Restate when student loan debt must be divided between spouses. 4. Describe two common traps in asset division. 5. Recall four tax issues that arise from asset division.

Institute for Divorce Financial Analysts

N IDFA: 6.00
NBI, Inc. is an IDFA-Registered CE Sponsor. The Institute for Divorce Financial Analysts (IDFA™) has accepted this program for 6.0 continuing education hours for successful program completion.


National Association of Legal Assistants, Inc.

N LA: 6.00
This seminar meets the requirements of the Certifying Board for Legal Assistants of the National Association of Legal Assistants, Inc., for 6.0 hours, including 0.0 ethics, of continuing legal assistant education credit required to maintain the CLA (Certified Legal Assistant) credential.


National Association of State Boards of Accountancy

N NAS: 7.00 Includes - Specialized Knowledge: 3.00, Taxes: 4.00
NBI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. This program is designed to qualify for 7.0 hours (based on 50 minute credit hour) of continuing professional education credit for accountants. For more information regarding administrative policies such as complaint and refund, please contact our offices at (800) 930-6182.

This is a basic to intermediate level program presented in a group live setting. Accountants should have a basic understanding of the complex aspects of divorce and the distribution of assets and debts. Upon completion of this course, attendees should be able to: 1. Identify three financial documents that are important for clients to provide. 2. State a method for handling changes in asset value between the time of separation and divorce. 3. Restate when student loan debt must be divided between spouses. 4. Describe two common traps in asset division. 5. Recall four tax issues that arise from asset division. Field(s) of Study -- Taxes; Specialized Knowledge.

National Federation of Paralegal Associations, Inc.

N PAR:
NBI, Inc. is a NFPA approved CLE provider.


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Questions


How To Order

Web: Order Now
Call: 800.930.6182
Fax: 715.835.1405
Mail: NBI
P.O. Box 3067
Eau Claire, WI 54702