It is our experience that family law matters are becoming more complex in recent years with the rise of both self managed super funds and parties using family trusts and businesses to alleviate tax burdens.
These strategies may be extremely tax effective whilst the parties continue to remain in a relationship the process of unwinding these entities and prescribing a value for the entities can be difficult.
As part of the conduct of your case we can find experts who are experienced in either valuing assets or finding undeclared assets.
Additionally we are seeing more cases where one of the parties involved may be hiding assets or money. If someone is hiding assets then it is possible to carry a tracing exercise to try and locate the undeclared assets/money.
The first step of the four step process for dividing martial assets is to define what the asset pool is and what it is worth.
Real property, family trusts, self managed super funds and businesses that parties to a relationship run can all be difficult to value.
At Coode & Corry Solicitors we have a number of experts that we can engage to provide a value for not just property but also for self managed super funds, businesses and family trusts.
If a matter is litigated it is common for the parties to appoint a joint valuer for the properties or entities and then both parties will be bound by the valuation by the joint expert valuer.
If an expert is required we know appropriately qualified experts to value, or find, those properties or entities and provide you with a cost estimate of their fees prior to any valuation occurring.
If you have a family law situation like these then please do not hesitate to contact Hamish of our office to arrange an initial free consultation to discuss your matter and to provide advice in regard to engaging experts to ensure a just and equitable outcome for your family law matter.