Accounting, tax and financial advice in relationship breakdowns
While we cannot as family lawyers provide accounting, tax, and financial advice to our clients either as part of their property settlement agreement or for their post-separation circumstances, we recognise that they very often require such advice.
We seek such advice from our client’s financial advisors or other advisors to ensure that any agreement reached as a result of the breakdown of a relationship is financially sound, tax effective, and that business (as well as personal) assets are dealt with appropriately. This is a very specialised area of family law that requires assistance from experts in this field.
Last week we had the pleasure of hosting a small gathering of such experts at our office. These were the people from Crowe Howarth (business advisors and accountants) and we were reminded of the importance of obtaining advice from experts in the appropriate field when it comes to dealing with the financial aspects of a relationship breakdown.
We are often pleasantly surprised at the restructuring and/or tax opportunities that can present for our clients from having such experts involved in our clients’ case from an early stage.
We look forward to continuing to work with the team at Crowe Howarth in providing beneficial outcomes for our mutual clients.