Family
May 22, 2012
Offshore accounts and divorce: dos and donts
Some tips for handling divorces involving foreign bank accounts. By Dan Jaffe and Sandra P. Mendell of Jaffe and Clemens
Say you're a small-town divorce lawyer serving a population of 35,000 (i.e., Beverly Hills). A client comes in with a not uncommon issue: a large amount of unreported income parked in Swiss accounts. The client and her soon-to-be ex want your help dividing the money discreetly. What do you do? Run. Why? Among other reasons, so you can keep your law license.
Federal law requires U.S. taxpay...
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