A landmark case in October is likely to have a major impact on future divorce investigations, lawyers have predicted.
In a landmark decision, seven Supreme Court justices unanimously ruled that Alison Sharland and Varsha Gohil could reopen divorce proceedings against their former husbands because they had not fully disclosed the value of their assets – it is a precedent that could signal major changes in courtrooms all over the UK.
At the time of their respective divorce investigations, Ms Sharland accepted a £10 million settlement, while Ms Gohil received £270,000. Both have retrospectively proved that this amount was not fair or in keeping with the net worth of their husbands – the court has now granted them permission to have their settlements re-examined.
Divorce settlements are never straight forward, which is why the experience and technical skills of forensic accountants often play such a valuable role. Indeed, Frenkels Forensics are called upon to assist in a huge number of cases – and this often involves a partner who is concerned that their spouse is hiding their true worth, as was the case with Ms Sharland as Ms Gohil.
Rather than being allowed to revisit a divorce settlement, it still makes more sense to reach the right terms the first time around. Frenkels Forensics can examine the money in the bank, business interests and assets owned by each side – tracing any potentially undisclosed assets – to ensure a spouse receives the correct amount in a divorce.
Meanwhile, for those who might be exploring the idea of reopening a divorce settlement in light of the Supreme Court’s ruling, Frenkels Forensics can assist clients with by using our investigative and valuation skills and techniques.
“For expert financial help in settling a divorce contact Frenkels Forensics for an independent appraisal.” Can we change to – “dealing with asset tracing or valuation matters arising from a divorce” or something on those lines.
Alternatively, if you’re looking for advice in any aspect of forensic accountancy, then do get in touch via Twitter, Google+, LinkedIn or by visiting our website www.frenkels.com
By Vitek Frenkel – find me via Google+.