There are many different definitions of income that can be used in family law cases. Local law will play a big part in defining income, but in more complicated cases, other definitions may come into play. The financial expert can help the attorneys and the court understand the various types of income and why they should be included or excluded from income calculations in a family law case.
Finding hidden sources of income is important as it relates to spousal support. However, the discovery of income streams can also influence the division of assets. If one spouse has a larger income stream than previously disclosed, that spouse may have less need to receive assets divided during divorce. Clearly, the discovery of hidden income can significantly impact the financial outcome of a divorce or child support action.