Marital Disputes
A couple were divorcing and we assessed the assets and liabilities of the couple,
provided a valuation of the family business and assisted in the financial settlements.
We can assist in the following ways:
A financial analysis
conducted early in the separation/divorce process can
save time and enables the client to make educated decisions
throughout the proceedings. The liquidity of assets is
an important consideration as oftentimes one party will
receive the most illiquid of assets (eg family home)
and considerations need to be given to cash flow throughout
the years to handle living expenses etc.
entitlements
to pension on retirement etc.
You can obtain a clearer
view of your financial future and financial ramifications
and therefore can approach a legal settlement that fully
addresses your financial needs
We can help clients avoid
long-term financial pit-falls related to divorce agreements
including details of all tax liabilities such as capital
gains tax, income tax on maintenance payments and inheritance
tax for children. Financial decisions must be made that
not only take care of immediate family needs but retirement
needs as well.
We can assist clients with developing
entailed household budgets to help avoid post-separation/divorce
financial struggles. Expenses such as life insurance,
health insurance and cost of living increases must
be taken into consideration when agreeing on a final
financial settlement in addition to impacts on the
children's standard of living especially being able
to take part in school trips and other activities outside
school. One-off expenses such as holidays, birthdays,
Christmas and special occasions prove problematic for
certain parents after separation and should be taken
into account in separation maintenance agreements or
settlements.
Complications can also arise if separating/divorcing
spouses are in business together either as partners
or shareholders in a limited company. The marital breakdown
will probably lead to one of them being bought out.
We can help ensure a fair and unbiased valuation and
that all relevant factors are taken into account in
assessing how its assets should be divided. If a financial
settlement is being made it may need to be funded from
the business and we can provide advice regarding the
ability of the business to pay it without damaging
its viability.
Investment planning - for some this
is the first time they had to deal with financial matters
and may find yourself in the possession of a substantial
sum of money resulting from the liquidation of family
assets and other settlements. Professional advice through
our Wealth Management consultant can suggest options
available for the successful investment of such cash.
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