A forensic accountant for divorce offers invaluable insight into a couple’s financial situation and ensures a fair divorce settlement. Using one will increase the costs of your divorce to an extent, but most clients view the outlay as a small price to pay for peace of mind that they will receive everything they are entitled to. So, how much is a forensic accountant for divorce?
At Frenkels Forensics, we understand that legal costs can be a cause for concern for many clients going through a divorce. That’s why we strive to offer a first-class forensic accountancy service at incredibly competitive rates. We’ll provide you with a free, no-obligation quote at the start of your matter and keep you updated on our fees throughout with regular updates and breakdowns.
For assistance call us on 0330 118 8200 or Make An Online Enquiry.
Do You Need A Forensic Accountant For Divorce?
Not every divorce necessitates the use of a forensic accountant. If a couple’s joint assets are easy to value, such as a marital home, the couple might only need to obtain a professional house valuation to ensure a fair outcome. However, if your assets are substantial or complex, and if their value justifies the involvement of a forensic accountancy expert, their input can be crucial. This is particularly so if the assets comprise business interests. Where one or both partners have considerable business interests, the stakes can be immensely high. Slight variations in valuations can mean a difference of many thousands or even millions of pounds, so the importance of having someone on your side with the expertise and experience to produce an accurate, fair valuation cannot be overstated.
Valuing a divorce in divorce cases requires far more than simply calculating how much the shares are worth and splitting them. Say, for example, one partner is involved in the business and the other is not. To reach a fair settlement in these cases, the Court must ascertain how much cash the non-owning partner is entitled to in the context of the illiquid assets being retained by the owning partner, having regard to the ongoing risks and advantages inherent in running a business. For instance, the business may flourish in the future, meaning the partner involved in its running becomes incredibly wealthy. On the other hand, the business may fail, and they may lose everything. Working out how to factor these possible eventualities into a fair divorce settlement is an art, not a science, and a forensic accountant must assist the Court by providing not only mathematical figures but must also test the fairness of their findings and the proposed outcome.
How Can A Forensic Accountant For Divorce Help?
A forensic accountant for divorce values a couple’s business assets to enable a fair division between the parties. Obtaining a valuation ahead of settlement talks makes the chances of those discussions yielding results and the parties avoiding Court hearings far more likely.
If you are unable to reach an agreement with your ex-partner as to how your assets should be divided and end up in Court, the Judge will likely order that an expert forensic accountant act as a single joint expert and prepare a report to assist the Judge in understanding the value of the couple’s assets. Our divorce forensic accountants routinely act as single joint experts in divorce cases. Our reports are known for being accurate, clear, and accessible and are often determinative of the outcome of the proceedings.
How Much Is A Forensic Accountant For Divorce?
It is impossible to know how much a forensic accountant for divorce will be in your case without an understanding of the issues at hand and the extent of work required. When you or your legal team first instruct us to work on your matter, we will review all relevant material and provide a free, no-obligation quote before we begin. We have longstanding relationships with many of the UK’s leading divorce solicitors and barristers, who call on our expertise time and time again thanks to our commitment to providing an exceptional service at competitive rates. We use advanced forensic accountancy software, some of which we have developed in-house, to enable us to sift through vast amounts of data and produce countless scenarios in minutes as opposed to weeks, and we pass on those cost savings to our clients.
Working out how to share a business post-divorce can be incredibly tricky and is a leading cause of acrimony in divorce proceedings. Involving a forensic accountant at an early stage reduces the risk of lengthy, expensive disputes, and usually saves costs in the long run.
To discover more, please call us on 0330 118 8200 or Make An Online Enquiry.
“Thank you ever so much for the work and advice you have provided . The report was clear and accessible and will not hesitate to recommend you all.”
“I am indebted to you for your contribution, and for explaining things in plain English such that even lawyers can understand the issues”
“May I take this opportunity to thank you for your assistance in this matter. Counsel and the judge said that your report was one of the best they had seen in that it was concise and technically easy to understand.”