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Posts by Richard Wolf

A Texas-Sized Fraud: Bookkeeper Embezzles $29M From Texas Family

Barbara Chalmers, 74, pleaded guilty in December 2022 to an embezzlement scheme of at least $29 million over the past decade. Ms. Chalmers was the bookkeeper for a charitable foundation and multiple companies run by the family of Jim Collins, a prominent...
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How to Spot a Rigged Business Valuation

There are many instances when a business valuation report is needed in litigation. During a divorce, if one or both spouses own a business, it may be necessary for the business to be valued for asset distribution purposes. Each party may hire their own...
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5 Ways Attorneys Can Get Better Outcomes When Working With a Forensic Accountant

When I tell people that I’m a forensic accountant, they sometimes think of Christian Wolff, Ben Affleck’s character in the movie The Accountant. While it’s true that a forensic accountant can use their skills to investigate a company for potential...
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Digital Assets and Equitable Distribution: A Guide for Family Law Attorneys

In dissolution of marriage cases, the valuation of marital property is necessary to ensure fair equitable distribution. But before values can be placed on marital property, the property first needs to be identified. As family law attorneys know, that...
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Estate Planning Lessons From a Rock Star

When rock star Prince died on April 21, 2016, he didn’t have a will in place. This rather shocking scenario resulted in one of the most complicated probate hearings ever seen in Minnesota, Prince’s home state. Business owners and high net worth families...
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Treatment of Non-Operating Assets and Liabilities In Business Valuation: Quick Guide for Attorneys

A reliable valuation is critical in many different contexts, including private sales, divorce, litigation and estate planning — just to name a few. A frequent challenge in valuing privately-owned businesses involves the treatment of non-operating assets...
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