The Financial Issues of Divorce
Divorce is rarely pleasant, especially if it includes children. In an ideal world, the two parties will agree on everything, including custody, access to the children, and the division of assets. It is certainly the scenario that is likely to produce the best result once the pain of divorce has faded. Unfortunately, there are usually decisions that have to be made before that pain has dulled. That makes decisions all the more difficult, and it requires someone who can look objectively at the situation. That can be each aspect: emotionally, legally, and financially.
There are, however, divorces that are both painful and financially complex. It may not be a matter of one party wanting to intentionally hide something from the other, though that happens. It may be that there is a need for expert valuation of assets ranging from the value of stocks and shares to a company valuation. It is not easy, but it can be done to standards that ought to be accepted once presented for the judgement.
Forensic accountants in London are often given the task of examining assets prior to a divorce. It is obviously important that the division does nothing to impair the operation of a company whereby its value will actually drop after the settlement. Accountants do not make a judgement, but they will present the facts once their investigations are complete.
There are also occasions when one party is attempting to conceal assets from the other. It is then a matter of finding the audit trail that can lead to their discovery and inclusion in the divorce settlement as the law demands. If there are experts who have knowingly concealed assets on behalf of their client, then it is likely to require similar expertise to find them.
It is essential that these matters are dealt with by a company that can not only do the investigation but that can also have the sensitivity not to do anything that will worsen what is already likely to be a delicate situation. Companies like www.frenkels.com can demonstrate their expertise in every aspect of accountancy, and that includes the financial handling of divorce.
This is just one of the many areas where accountants can provide expertise. After general training, accountants often select an area for specialisation. You may decide that you want to use someone who works across the board financially – if you think that the issues are fairly straightforward, then it may be perfectly fine to do so. However, if you have any nagging doubts, then you want to get things right from the start. In divorce, there is unlikely to be a second chance. Get the specialist.