What is a Marital Balance Sheet? (Valuation Expert & Attorney | Atlanta, GA & St. Louis, MO) скачать в хорошем качестве

What is a Marital Balance Sheet? (Valuation Expert & Attorney | Atlanta, GA & St. Louis, MO)

What is a Marital Balance Sheet? (Valuation Expert & Attorney | Atlanta, GA & St. Louis, MO) https://www.valuationpodcast.com https://www.valuationmediation.com Hi Welcome to ValuationPodcast.com - A podcast and video series about all things related to business and valuation. My name is Melissa Gragg, and I provide online divorce mediation and valuation services based in St. Louis Missouri. Today we will discuss Marital Balance Sheet: Trusts and Divorce with Robert - Bob Boyd and Letitia A. McDonald from Atlanta, Georgia. Bob is a co-founder of Boyd Collar Nolen Tuggle & Roddenbery and a leader in family law who has received recognition from his colleagues across Georgia and the nation for his work in high-net-worth divorce litigation and contested custody cases. Tish McDonald is a partner in the Trial and Global Practice Group at King & Spalding. She focuses on complex commercial litigation, with an emphasis in fiduciary litigation, trust and estate litigation, litigation involving non-profits, real estate litigation, and litigation involving governmental entities. Welcome! 1. Where do you typically see overlay of trusts and estates in family law? 2. What are some of the most common mistakes made with family trusts? 3. What important steps should take in order to properly protect their estate? 4. What are the differences between estates and trusts in high asset couples? 5. How are estates and trusts typically dealt with in divorce litigation? 6. If a couple is preparing to divorce, what should be done to protect their assets? 7. Do you have any unique stories regarding high asset couples or family estates and trusts? 8. Tell us more about the services you provide! Melissa Gragg CVA, MAFF, CDFA Expert testimony for financial and valuation issues Bridge Valuation Partners, LLC melissa@bridgevaluation.com http://www.BridgeValuation.com http://www.ValuationPodcast.com http://www.MediatorPodcast.com https://www.valuationmediation.com Cell: (314) 541-8163 Robert D. Boyd Phone: (770) 953-4300 Fax: 770.953.4700 Email: bboyd@bcntrlaw.com https://www.bcntrlaw.com Letitia A. McDonald (Tish) Partner | Trial and Global Disputes Atlanta: +1 404 572 3545 Mobile: +1-404-822-8860 tmcdonald@kslaw.com https://www.kslaw.com Melissa Gragg (00:01:00): Well, we're going to talk about a topic that I think we see very often in divorce and we have these trust issues, and it's not the normal trust that we're talking about. Like we don't believe each other, but actually estate trust and the complexities involved, but I think we need to step back just a tad bit because, and maybe Bob can help us, you know, when we talk about a marital balance sheet, what is that? And why is that like a central focus first in the divorce? Bob Boyd (00:01:33): Well, Melissa, one of the things that we're trying to do as part of a divorce is divide the assets and liabilities that the parties have accumulated during the course of their marriage. I mean, that's, for instance, the gist of your podcast typically are about valuation. And why do you do a valuation? Because that's a lot item of an asset that you have to fill in on the marital balance sheet. And the marital balance sheet itself is simply a listing of what they've accumulated real estate brokerage accounts retirement accounts whatever it is that they've they've, they've got and typically in a, on a marital balance sheet, we're identifying property because property can take several different forms in a divorce. You have marital property, which are assets or liabilities that have been accrued during the marriage through someone's work efforts or whatever, typically in those situations with marital property, how assets title doesn't matter. Bob Boyd (00:02:48): We're just trying to figure out how was the asset earned. Another category of property that we need to understand is separate property and separate or any assets that someone either brought into the marriage or acquired during the marriage by way of gift or inheritance from a third party. And in most states where the state practices equitable division of property, those separate assets are not going to be divided. It's only the marital property that gets divided. Now, once in a while, we'll run across something called third party property. And those are assets that during the course of a marriage have been carved out of the marital estate and put into a trust. So that's, that's really what we're identifying to establish the marital balance sheet so that we begin the process of unraveling the marital estate and dividing assets between the parties. Melissa Gragg (00:03:57): Well, and I think that one thing that we're looking at when we're calling this a marital balance sheet and, and really it's just the things that you have and the, the debts that you owe, but cumulatively, everything that you can possibly think about all the bank accounts, all of the property and things like that.