While many people enter into marriage with the intent of upholding the vow “till death do us part,” the reality is that divorce often occurs for a variety of reasons.
While most couples do not have significant liquid assets, it is common for a majority of couples to own a home and have one or multiple retirement plans. Usually, these two assets make up the bulk of the assets that the couple must divide. Even though there may be equity in the family home, additional savings, and other liquid assets, the cost of a divorce often erodes these assets.
The topics and ideas discussed in this article provide a starting point as a practitioner begins to consider each client’s unique financial situation. Click here to read the full article on The Illiquid Martital Estate: Navigating the Division of Martial Residences and Retirement Accounts on the AICPA’s Tax Adviser site and learn more about the common pitfalls and potential opportunities to consider in the illiquid marital estate arena.
Meet the Author
Senior Tax Manager
Elizabeth Hutchison, CPA, CDFA
In 2010, Elizabeth joined the firm’s Portland team with three years of experience in public accounting at a Big Four and local accounting firm. Going beyond compliance, Elizabeth’s role at the firm is both problem solver and strategic tax planner. Her expertise allows her to help her clients navigate the complex nature of tax laws.…
- High-net worth individuals and business owners
- Strategic tax planning and compliance
- Divorce support
- Certified Public Accountant
- Certified Divorce Financial Analyst (CDFA)