In 1962 there were 28,935 divorces in England and Wales, 50 years later and in 2012 the figure had risen to 118,140.
To put the matter in perspective, the latest data from the Office for National Statistics states that 42 per cent of British marriages end in divorce. Unfortunately, in many cases these separations have added complications beyond the emotional strain – this is why divorce investigations from forensic accounting firms are so valuable.
Among the many things to be taken into consideration as the two people part ways is the matter of deciding how to split various assets. This can be particularly pertinent if a married couple jointly own a business.
Frenkels Forensics has been called upon many times to act on behalf of one spouse to value a business or a private company that one of them holds shares in. Business valuation techniques can ascertain the monetary value of these shares so they can be included within the divorce settlement.
Alternatively, as trust breaks down between the pair, often one party believes the other is hiding assets so they retain it in its entirety. Again, divorce investigations can explore any such claims and ensure that a comprehensive breakdown is completed of what each party owns.
In what are often very testing times fuelled with emotion, having independent experts on hand to deliver facts and figures can make the process far smoother. As divorces regrettably become more commonplace, it is likely that divorce investigations, which call upon forensic accounting expertise, are also going to become far more common.
For expert financial help in settling a divorce contact Frenkels Forensics for an independent appraisal.
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+.