Timothy Sumer

LOOKING FOR HELP? DIVORCE AND YOUR MONEY: PODCASTS: SUBSCRIBE: "Some cases you can see that it looks like it’s going to be easy...to prove to a judge. Other cases look like it’s going to be very difficult and maybe just try to settle and do the best you can. It’s not a black and white situation."   Episode 81 of the Divorce and Your Money Show interviews Mark Kohn, a highly experienced forensic accountant and author of How they Stash the Cash: A Guide to Finding Income Hidden by a Spouse during Divorce. He is based in Los Angeles and can be reached at    He is going to teach us a lot of very important information, including:    The two most common ways a spouse may hide assets When should you hire a forensic accountant What documents you need to prepare for a forensic accountant  When using a forensic accountant can be a waste of money Why a private investigator can be your best friend in solving hard to reach cases   And ...

LOOKING FOR HELP? DIVORCE AND YOUR MONEY: PODCASTS: SUBSCRIBE: "Lot’s of times agreements we get are drafted and signed by a judge, and they call for something that can’t be done. It is legally impossible.” - Michael O’Connell, QDRO Solutions   "People will contact us and say 'Well, I’m supposed to get part of my husbands 401k but I don’t know what the name of it is.’ That is very important, to get that form filled out, make sure they know the name of the plan that’s going to get divided, and the company, and the plan administrator, and if they don’t know at all at least give us as much information as they can so that we can research the rest...They send a package to us and we charge a flat fee. “ - Donna Dodds, QDRO Solutions   A retirement plan is often one of the largest assets that you may have during divorce. Unfortunately, also one of the most complicated assets to split. As today’s interview guests said, “Every plan is different, every plan administ...

LOOKING FOR HELP? DIVORCE AND YOUR MONEY: PODCASTS: SUBSCRIBE: Episode 78 of the Divorce and Your Money Show discusses trusts and how they are affected in a divorce.   Legal trusts are often used for such things as estate planning and asset protection. They can also be used for gifting, asset management, tax shelters, or protection from creditors. A trust is a legal vehicle, where a grantor puts assets or money aside, and the person who will receive it later is called the beneficiary. A third person known as the trustee is in charge of managing the assets.   The most important point to notice about trusts in a divorce is the language used in the trust document. You need an attorney to look at this language, which can be very specific or pretty broad. The type of trust and how it is worded for the beneficiary are really important. A well-worded trust explicitly states that the money in the trust is only for the beneficiary. It can prevent a spouse from gett...

LOOKING FOR HELP? DIVORCE AND YOUR MONEY: PODCASTS: SUBSCRIBE: When you are planning to file for divorce from your spouse, you need to be prepared for the initial costs of hiring an attorney and other experts to handle your case. Putting money aside to cover some of the expenses related to your divorce can be a tricky endeavor. Particularly in situations where your spouse may handle the finances, you should have a few tricks at your disposal, so that you can put some of those funds aside to cover your expenses.   If you consult with a divorce professional and pay with funds from your joint account, your spouse will see the transaction. How can you get around a spouse who notices the money that flows in and out of your joint bank account?   Here are a few clever ways that you can begin to stash cash out of the view of your soon-to-be ex:   1) Shopping presents several ways to hide cash from your spouse. For instance, put small amounts on gift cards while do...