Financial Statements for Family Lawyers Boot Camp 2024

Annie Noa Kenet
Kenet Family Law P.C.

Eric Sadvari
Kenet Family Law P.C.

Annie Noa Kenet
Kenet Family Law P.C.

Eric Sadvari
Kenet Family Law P.C.

Understanding exactly what the financial statement is and its role in a family law claim is key. In this introductory session our chairs will provide a high‑level overview of the financial statement. Understand what counsel need to do to ensure each file is always in compliance with the relevant Family Law Rules. You will also learn how to manage and instruct your clients about financial statements – one of the biggest challenges for even the most experienced counsel.

Annie Noa Kenet
Kenet Family Law P.C

• Financial statement “styles” and why they matter
• Using the financial statement to your client’s advantage – from the first page
• Strategies for how to address the income section of the financial statement for clients who are regular employees

Eric Sadvari
Kenet Family Law P.C

• Tricks and tips on how to make sure this chart is completed accurately (and why this matters)

10:30 a.m.
Heath Break

Vivian Alterman, MBA, CPA, CA, CBV
ap Valuations Limited

Mitchell Ornstein, MBA, CPA, CA, CBV, CFE, CFF
Fruitman Kates Ornstein Valuations

Hear from CBV experts on best practices and dangers to avoid.

• How do you present your client’s income if they are self employed?
• Identifying and reflecting “Other Sources” of income

Annie Noa Kenet
Kenet Family Law P.C

Expenses can be a minefield for counsel and their clients. In this session you will learn how to properly capture expenses and other guidance for Part 2.

• Tips for how to use this section to maximize your tools for settlement and best advocate your client’s position
• When to revise (and why this is important)

Eric Sadvari
Kenet Family Law P.C

• When does Part 3 apply?
• Identifying what information do you need from your client to properly complete it
• Is this section ever confidential (and how to deal with this)?

Annie Noa Kenet
Kenet Family Law P.C

• How to question your client to get accurate information about these assets
• Strategies for how this section can be part of your advocacy toolbox

12:30 p.m.
Lunch

Eric Sadvari
Kenet Family Law P.C

Alisa Zorina, MBA, CPA, CA, CBV, CFF, AACI P. App
Zorina Consulting Ltd. and Appraisal Effect Ltd.

Expert guidance from a Certified Real Estate Appraiser about the ins and outs of real property valuations, including how to read them and challenge them at court. Know what you need to keep in mind when addressing real property.

Annie Noa Kenet
Kenet Family Law P.C

• What should be included?
• Tips for how to instruct your client about these items
• How to value contents, cars, jewelry, and specialty items

Eric Sadvari
Kenet Family Law P.C

• How to properly reflect the accounts required, including RESPs
• Pensions: strategies for dealing with them, including how to interpret the FRSA forms and addressing non‑Ontario pension valuations

3:00 p.m.
Health Break

Cynthia Runolfson, CPA, CA, CFF, CBV
Runolfson Kehoe Chartered Professional Accountants

Expert guidance on some of the key questions:

• What different types of disposition costs exist?
• What assets do they apply to?
• How do you calculate them?

Annie Noa Kenet
Kenet Family Law P.C

The ins and outs of insurance policies, including understanding cash surrender value (CSV).

4:00 p.m.
Day One Ends

Annie Noa Kenet
Kenet Family Law P.C.

Eric Sadvari
Kenet Family Law P.C.

Ron Martindale, BASc., CPA, CA, LPA, CBV, CFF
Davis Martindale

The ins and outs of how to value businesses, including what to watch out for in business valuation reports and how
to best to challenge them

Nyla Roopnarinesingh, Licensed Paralegal, BA (Hons.), CBV, CDFA, FDRP-Val
Crowe Soberman LLP

Eric Sadvari
Kenet Family Law P.C.

Learn how to tackle Part 4(f) including:

• How to reflect shareholder loans and taxes
• Instructing your client about loans

11:15 a.m.
Health Break

Brendan Donovan
Donovan Kochman Litigation LLP

Annie Noa Kenet
Kenet Family Law P.C.

• Understanding what other property your client might have, including intellectual property and trusts
• Tips and tricks for how to approach valuing unusual types of property

Annie Noa Kenet
Kenet Family Law P.C.

• Common (and uncommon) forms of debts and how to properly reflect them.

12:30 p.m.
Lunch

Eric Sadvari
Kenet Family Law P.C.

• When do exclusions apply and understanding how do you properly record them on the Financial Statement?

Annie Noa Kenet
Kenet Family Law P.C.

• When should you complete the proposed budget section?
• Understand how these budgets are different from any other budget on the financial statement (and why this distinction is important)

Eric Sadvari
Kenet Family Law P.C.

• How to obtain the necessary information to properly complete this schedule

The Hon. Justice Judy Fowler Byrne
Superior Court of Justice

The Hon. Justice Melanie Kraft
Superior Court of Justice

The Hon. Justice M. Suranganie Kumaranayake
Superior Court of Justice

Hear from our panel of esteemed family law judges about things counsel should keep in mind and things to avoid when preparing and presenting financial statements.

3:00 p.m.
Health Break

Annie Noa Kenet
Kenet Family Law P.C.

Eric Sadvari
Kenet Family Law P.C.

After drilling through each section of the financial statement, this segment will focus on some of the key strategy pieces and challenges.

• Update, update, update – when and why you need to update your financial statement
• How to instruct your client about financial statements to obtain best results
• Alternating your financial statement in special circumstances
• NOTES NOTES NOTES (how and why)
• How to use your financial statement as an advocacy tool

4:00 p.m.
Program Concludes