McKinley Irvin Blogs from October 2022

• Benefits of Using a Forensic Accountant in a Divorce

  Oct 31, 2022
  When a couple begins the divorce process, transparency about assets is critical. This information provides the foundation for nearly every aspect of a divorce agreement, but nowhere more than property division . There can be no fair determination of which spouse receives what if there is no true accounting of the marital property. From finding hidden bank accounts to revealing the dissipation of assets, a forensic accountant’s work can result in a fairer divorce settlement. Role of a Forensic Accountant Divorce lawyers lean ...
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• Tips for Parenting Plans Involving Babies & Young Children

  Oct 28, 2022
  Creating a parenting plan is never easy, especially when your children are still young. Older children are often better equipped to handle divorce and separation issues, or they are at least able to grasp what is going on. Babies and young children, however, don’t understand what is happening and ideally should be receiving attention and care from both parents during these early years. For this reason, it can be particularly difficult to create a schedule for a baby when the parents live in different households. If you and ...
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• Is It Possible to Have an Amicable Divorce?

  Oct 24, 2022
  When couples decide to divorce and part ways, the transition can be more difficult if the divorcing parties let their emotions get the best of them. Couples who engage in highly contested disputes during their divorces often end up spending significantly more money. Below, we explain a strategy that divorcing couples can take advantage of if they want to have an amicable divorce. Consider Using a Mediator If you want to avoid the hassle and cost of going to court to have a judge settle your disputes, then you should consider ...
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• Preparing for Divorce Proceedings in Washington State

  Oct 17, 2022
  Between the decision to divorce and the final divorce decree are multiple steps that require legal filings, documentation, and negotiation. Getting a divorce in Washington state can be complicated, even in uncontested divorces. Using a skilled attorney to guide the process can prevent unnecessary delays and result in a more equitable divorce agreement. How Residency Impacts Divorce Most states require one or both spouses to have lived in the state before being eligible to file for divorce in that state. Washington State does ...
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• Common Divorce Issues High Net Worth Couples Face

  Oct 14, 2022
  Each divorce presents a unique set of challenges to overcome so both spouses can move on to the next phase of their lives. However, when spouses with a high net worth get divorced, it is even more complicated to navigate because of the wide variety of assets, multiple properties, and business shares that need to be accounted for and divided. High net worth divorces involve spouses who have more than $1 million in liquid assets. If you fall into this category and are considering divorce, then you need to be aware of the ...
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• 6 Financial Planning Tips for Life After Divorce

  Oct 10, 2022
  Getting a divorce is accompanied by a mixed bag of emotions. There can be disappointment and sadness, but there can also be a sense of tremendous expectation for what is next. A common response to the dissolution of marriage is fear of what divorce will mean financially. Divorce undoubtedly changes the economic landscape for both parties. Parting spouses can better maintain solid financial footing by following these six tips. Tip 1: Close Joint Accounts Many married couples share checking accounts, savings accounts, credit ...
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