Aurora’s professional staff have assisted clients and their lawyers in more than 700 family disputes or transition matters, which cover divorce, estates, and preparing families for the transition of responsibility in the face of mental and physical disabilities. In this role we have acted as financial advocates, financial neutrals, mediators, and as advisors to legal counsel. In particular, Susan Miller and James McCusker have collectively more than 35 years’ experience working with individuals and couples going through the divorce process. As we often remark, divorce issues are largely confined to those related to money, children and, occasionally, pets. The one that is almost always the sticking point, or the more difficult to resolve, is “money” or the allocation of assets and the determination of financial support, post divorce. Family disputes are unlike most other disputes and require specialist knowledge and inter-personal skills to reach a resolution. The Principals at Aurora have the training and experience to assist clients and their legal counsel resolve these difficult situations.
The services we provide include:
- Accounting: We prepare balance sheets and income statements as necessary. Additionally, Aurora provides forensic accounting services in support of the mediation or dispute resolution process.
- Income and Asset Division: We prepare financial statements and asset and income division scenarios.
- Tax: We assess the taxation impacts, including correct jurisdictional interpretations, and issues surrounding the treatment of alimony and child support, transfers of property, taxable versus tax-deferred or tax-free assets, filing status, dependency exemptions, alternative minimum tax, capital loss carry-forward, embedded capital gain, and alimony recapture. Additionally, we can speak to inheritance issues including inherited IRAs, 401(k)s, annuities, assets, property, and stocks.
- Valuation: We oversee the valuation of assets, including joint property, businesses, including tangible and intangible assets, insurance policies, trusts, and investments.
- Disposition or Reallocation of Assets: We provide the parties with options that allow for the orderly disposition and/or reallocation of assets, assessing their value and relative risk.
- Risk: We assess the risks associated with a proposed settlement and determine the life and other insurance necessary to protect long-term settlement structures.
- Financial Impact: We provide long-term scenarios of the impact of various settlement options, including income potential of reallocated assets and support options in the case of divorce.