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Understanding the Role of Financial Neutrals in Collaborative Family Law Practice

This comprehensive guide delves into the essential role of financial neutrals in family law cases. Financial neutrals act as unbiased professionals who assist both spouses in gathering critical financial information within a supportive environment. Key topics include the mandatory disclosure process, gathering financial records, and presenting findings effectively to parties involved. Explore the detailed responsibilities of financial neutrals, including income analysis, budget assessments, and collaboration with other financial experts, ensuring a fair resolution in divorce proceedings.

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Understanding the Role of Financial Neutrals in Collaborative Family Law Practice

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  1. The Collaborative Practice of Law in Family Cases Part II:Financial Neutrals Adam T. Magill, MBA, AVA, CBA

  2. agenda what is a financial neutral? what is the role of a financial neutral? getting financial records working with the parties presenting your findings at the meetings

  3. Neutral expert with knowledge of the financial aspects particular to divorce. 1. what is a financial neutral? “This professional acts as a neutral party who assists both spouses in gathering all the financial information about the couple or family in a supportive and nurturing environment.” International Academy of Collaborative Professionals (IACP)

  4. 1. what is a financial neutral?

  5. 2. what is the role of a financial neutral?

  6. 2. what is the role of a financial neutral? Information gathering • Mandatory disclosure • Financial affidavits • Income analysis • Budgets / standard of living • Alimony / tax calculations • Child support calculations • Meeting note taking Expert / strategy • Provide additional expert services • Coordinate or be liaison for outside financial services • Real estate appraisals • Business valuations • Forensic analysis • Private investigations • Strategic analyses

  7. 3. getting financial records

  8. 3. getting financial records

  9. 3. getting financial records Releases from/for… • CPAs • Financial advisors • Insurance agents • Brokers • Credit reports • Tax returns (direct from IRS) • Social security reports Outside services… • Real estate appraisals • Business valuations • Forensic analysis • Personal property appraisers • Brokers • Financial planners • Private investigators

  10. 4. working with the parties

  11. 4. working with the parties

  12. 5. presenting your findings at the meetings

  13. 5. presenting your findings at the meetings

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