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The Collaborative Practice of Law in Family Cases. Part II: Financial Neutrals . Adam T. Magill, MBA, AVA, CBA. agenda. what is a financial neutral? w hat is the role of a financial neutral? getting financial records w orking with the parties presenting your findings at the meetings.
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The Collaborative Practice of Law in Family Cases Part II:Financial Neutrals Adam T. Magill, MBA, AVA, CBA
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
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)
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
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