Detangling finances when a couple separates can be a complex matter. In some situations, couples have jointly acquired property, trust funds, significant superannuation, and family businesses to consider within the asset pool.
For accountants and financial advisers, the process of helping their clients to navigate a separation can present a minefield of potential issues.
At the next Coleman Greig briefing for accountants, Adam West, a firm Principal and an Accredited Specialist in Family Law, will provide an overview on separation from a tax and accounting perspective. As well as offering an insight into the issues that can arise and their implications, he will provide a range of practical tips and strategies that you can use to protect your client's asset pools.
Topics covered will include:
- The process of financial disclosure
- Ways to protect assets and preserve the pool of property
- Valuing assets in a family law situation
- How interests in trusts and companies are treated in the family law system
- The importance of formalising any agreement regarding the division of property through Consent Orders or Financial Agreements
- The implementation and enforcement of Orders?
Don't miss this opportunity to learn how you can help your clients to navigate a separation from a financial perspective!