Date: November 9, 2022

Faculty
Rosemary Purtell, Esq., Law Office of Rosemary Purtell, LLC (moderator)
Hon. Jennifer M. Allen, Probate and Family Court
Donald DeGrazia, CPA, Gold Gerstein Group LLC
David Gannett, CPA, Gannett CPA
Robert Levis, Levis Consulting
Pamela Oliver, CPA, DiSanto, Priest & Company
Robert Rivers, Esq., Lee & Rivers

Description
What is the difference between the return on an asset versus the return of an asset?

How do other states handle these issues?

The questions surrounding the double counting of assets and/or income is raised in many of our domestic relations cases, both in the division of marital assets in divorce and for support purposes. The issues raised are not just related to the valuation of closely-held family businesses, but also involve the valuation of and use of income from pensions, stock options, tax refunds, and even bank accounts. It is important that practitioners understand the current state of Massachusetts law on these topics in order to make a successful argument depending upon who you represent. When and to what extent is the income from a business whose value has been established not to be counted for purposes of support? Why can income from an assigned asset be used for child support but perhaps not for alimony calculations?

Attendees can expect to learn:

• How Massachusetts’ equitable division theory impact claims of double dip in divorce.
• How best to convince the judge that your theory is the right one.
• How the methodology used to value a business can potentially avoid the “double dipping” argument. What is impermissible double counting and what is not?
• The impact of the new Child Support Guidelines and the Alimony Reform Act on valuation and support issues.