DIVORCE DISPUTES & MATRIMONIAL DISPUTES

Our decades of experience in handling complex divorce and matrimonial disputes ensures that all assets are distributed fairly and evenly.

Why Matrimonial Disputes Need Forensic Accountants

Dealing with divorce disputes and matrimonial disputes can be difficult, but it is essential to ensure that all assets and income are distributed fairly and openly. Forensic accountants will assess a couple’s shared investments and assets to gain a clear understanding of the total value of their wealth. If necessary, they also have the expertise required to trace and identify any hidden assets or undisclosed income.

Hiring a Forensic Accountant for Divorce

When it comes to divorce disputes and matrimonial disputes, a forensic accountant can either act on behalf of a singular party or as a Single Joint Expert (SJE) to represent both sides.

While forensic accountants can be instructed by the legal teams of the parties involved, their ultimate responsibility lies with the Court and they have to demonstrate independence at all times.

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The Role of Forensic Accountants in Divorce

A forensic accountant has several key responsibilities when dealing with divorce disputes and matrimonial disputes. These include:

  • Providing basic valuations of matrimonial assets
  • Informing parties about the tax implications associated with the disposal of said assets
  • Tracing and identifying assets, providing a full disclosure at the conclusion of their investigation
  • Maintaining transparency throughout to ensure both parties receive what they deserve
  • Appearing as an expert witness in Court wherever necessary

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What Does a Forensic Accountant Do in Divorce?

Forensic accountants can be appointed at any stage of divorce or separation proceedings, and are often capable of having a transformative effect on the entire process. From asset valuation and tracing, to acting as an expert witness in Court, there are many ways in which forensic accounting can assist you in a divorce.

Regardless of if your assets are personal or tied up in a business, if you are undergoing a divorce, it will all need to be evaluated during the proceedings. A forensic accountant will be able to come in and use their expertise to accurately estimate a value. If necessary, they will also devise a strategy to restructure said business in order to extract necessary funds if required.

Transparency is key in any divorce. If it is suspected that one party is hiding assets or not disclosing income, it is essential to obtain clarity as soon as possible. A forensic account can work to ascertain whether these suspicions are founded and carry out asset tracing to guarantee full financial transparency between both parties.

When it comes to the sharing of finances and assets during divorce proceedings, a lack of appropriate planning can lead to a large amount of money going into the hands of HMRC. Utilising the expertise of a forensic accountant enables parties to prepare for such eventualities and minimise their future tax bill once the transfer of assets is completed.

Should divorce proceedings ever reach the stage where a court date needs to be set, a forensic accountant can act as an expert witness. In this capacity, a forensic accountant will use their knowledge and expertise to fully support their client’s case and ensure the best possible outcome is reached.

How We Assist with Matrimonial Dispute Cases

Our specialist team is adept at tracing assets and, working alongside a team of private investigators and computer forensic experts, are able to identify whether anything has been hidden or if any income has not been disclosed. We are also able to help if there is a dispute regarding the value of a spouse’s share of a business.

We are regularly instructed, often as a Single Joint Expert, to assist both parties in reaching a fair settlement. We leave no stone unturned during the course of our investigations, and are committed to achieving the best possible results for our clients.

Frequently Asked Questions

It is always preferred for both parties in a divorce to amicably reach an agreement on a fair split of assets. However, this isn’t always possible.

The division of assets is a particularly sticky point for most couples undergoing divorce. Tensions are high and both sides may feel that they deserve more.

A forensic accountant can use their expertise to manage proceedings in an efficient and transparent fashion.

When it comes to finding hidden assets, it is common for forensic accountants to investigate down three key routes:

  • Net Worth: After accessing information and statistics from financial documents and the bank itself, a forensic accountant can get a clear picture of whether an individual may or may not be hiding any assets. They will do this by assessing the net worth of one party at the beginning of the divorce proceedings, and contrast it at the end.
  • Deposits: This step entails taking net deposits by one party and adding it to any cash expenditure to formulate a total amount. Transactions from known and declared sources are then deducted in order to calculate an amount deposited with an unknown source — which will then be pursued.
  • Understanding Parties Fund: Taking evidence from various sources, such as bank statements, and deducting it from available funds, the accountant will be able to ascertain whether any undisclosed funds have been spent.

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