Valuing and Dividing Marital Property in Tennessee: An Accountant's Essential Update for Attorneys - On-Demand
Webinar is now available on-demand. NOTE: On-Demand webinars are not eligible for CLE credit.
WEBINAR SNAPSHOT: Gain CLE and learn from a Tennessee CPA how to value marital assets to make the most compelling case for your clients pursuing divorce.
In Tennessee, divorce is no longer limited to who gets the home and how the bank accounts are split. It often involves how to value a business, how to divide a retirement plan, and how to allocate debt.
Dividing the assets and debts of a couple seeking a divorce can be a difficult task. You must first determine what is and what is not marital property, then determine what the assets are worth. The matter is complicated when one or both of the parties own a business.
Once all of the marital assets – the real estate, the retirement accounts, any stock options, any business interests, etc. – are accounted for, the property must be divided. The courts say the division must be equitable. But how is that accomplished?
Learn more with this on-demand webinar. Your presenter, a CPA, will guide you through some of the scenarios that arise in valuing and dividing marital property. For example, what if one spouse has an interest in a closely-held business, or what if one spouse has an executive compensation package, or if one of the spouses files for bankruptcy.
- Marital vs. non-marital assets
- Dividing real estate
- Business assets and interests in closely-held entities
- Employee benefits, stock options and executive compensation plans
- Other sources of assets
- Dividing debt between spouses
- Bankruptcy's impact on divorce
- When and how to use financial experts
About Your Presenter:
D. Michael Costello
CPA, ABV, ASA, CFF, CFE
Elliott Davis Decosimo
D. Michael Costello, CPA, ABV, ASA, CFF, CFE, is a shareholder and practice leader for fraud, forensic and litigation services with Elliott Davis Decosimo in Chattanooga. He is a certified public accountant (accredited in business valuation and certified in financial forensics), a certified fraud examiner, and an accredited senior business appraiser and consultant. He has more than 30 years’ experience in business valuations, forensic accounting, business acquisitions and divestitures, exit planning and related fields.
Mr. Costello provides expert testimony in lost profits, fraud, bankruptcy, patents and licenses, personal injury, wrongful death, wrongful termination litigation, and marital dissolution. He is qualified to serve as an expert witness in U.S. District Courts, Circuit Courts, and Chancery Courts.
He has been appointed by the Hamilton County Circuit Court as a Special Master and as a Custodian to liquidate a business; by the Hamilton County Chancery Court as a Custodian/Receiver to manage and sell a medical practice; and by a Federal Bankruptcy Trustee to sell a business. His appraisals have been used in various courts and in connection with buy-and-sell transactions between corporate shareholders.