Our approach
Traditionally when one is contemplating divorce, a family lawyer would usually be the first port of call in terms of advisers. Clients should also consider turning to their accountants, who already have an insight into their financial affairs and are a natural point of contact to turn to during what can be an emotionally and financially trying time.
Divorce is becoming increasingly common and what many people do not realise is that as well as requiring the services of a family lawyer, the value added by your tax advisor/accountant can be substantial, which in turn can have a significant impact on the financial settlement.
There are a number of issues to consider when contemplating divorce. The financial implications should be considered as early as possible to ensure the best possible outcome.
Our approach involves working with you to grasp your desired outcome, ensuring clarity on tax implications, valuation and accounting as part of the negotiation of asset splits. Whilst tax may not be the primary motivator, we aim to provide guidance to prevent any unforeseen tax charges and enable informed decision-making throughout the process.
We will take a holistic approach and work collaboratively with other departments such as the Forensic and Valuation Services Team to ensure our advice is well rounded and practical.
Our services
We can assist with all areas from planning to protecting family wealth in the event of a future potential divorce through to reviewing the financial settlement on divorce. We can assist with the following aspects:
- Analysis of Form E and assisting with questionnaires
- Considering tax implications on the transfer of assets and how to structure efficiently
– Capital gains tax advice.
– Income tax planning on division of assets
– Future planning to protect family wealth in the event of divorce e.g. through use of trusts
– All areas of tax compliance
– Considering overseas tax implications and working with HLB worldwide network, if required. - Share and business valuations and associated tax implications.
