Divorce, Minors Counsel & Family Law Attorneys

Marital Fiduciary Audit

Divorce Fiduciary Audit

Community Property Fiduciary Audit 

Divorces involving a self employed spouse such as a writer, producer, director, doctor, dentist, accountant or attorney.

Certain marital settlements involve a spouse who is a trustee of the family trust, de facto control trustee or a named trustee or de-facto control person of an ERISA plan including a defined benefit pension, profit sharing or 401k plan.

If breach of fiduciary duty has occurred, community assets may be impaired.

(Trusts are similar to ERISA plans and exist to serve first the interests of beneficiaries, plan participants and their beneficiaries; beneficiaries uusally include the spouse, children and other dependents.)

• Spouses who are Self employed, run a family or closely-held business, own a partnership or professional corporations (examples medical, dental, veterinary, actors, agents, writers, producers, directors, etc.)
• Breach of ERISA fiduciary duty often leads to poor asset performance or investment losses; 3rd parties, neglect, speculation, failure to diversify or mitigate risk of large losses, are among myriad causes for plan assets to under-perform, especially if ignored for long periods.
• Fraud, prohibited transactions or self-dealing; improper or undocumented loans or imprudent investments; represent a potential theft of plan and community assets.
• A QDRO (qualified domestic relations order) involving a Spouse-controlled ERISA plan that simply assumes prudent fiduciary compliance and asset performance may shortchange both parties.  A bank, trust company, stock broker, securities broker, money manager, hedge fund manager, consultant or investment adviser may be responsible, some are untrained in their duties as fiduciaries to ERISA qualified plans.
• Initial consultations are complimentary.

Expert Reports includes:

• Analysis of spouse-controlled community property, trusts and ERISA pension plan, profit sharing or 401k plan for fiduciary compliance
• Shortfalls in fiduciary compliance may lead to impairment to community assets
• We identify the shortfalls, establish degree of non-compliance and estimate damages to the community for which the responsible spouse be surcharged or some other remendy argued
• Expert Witness and or litigation support help you provide representation for your divorce and family law clients

For more information info@FiduciaryExpert.com or (310) 943 - 6509 

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