Divorce is a stressful and costly experience, more so when there are multiple investments, businesses, and/or children involved.
Our team at Utopia Consulting has developed skills in divorce advice to assist our clients in managing their divorces, with particular focus on the financial implications of the divorce, and with as little stress and antagonism as possible.
We work with both parties to determine the correct value and allocation of assets and liabilities to develop an asset settlements strategy that clients can take to their lawyers, and to the courts. By handling this in house, without the constant input of a lawyer, we mitigate some of the erroneous legal fees that can be incurred. An estimated 70% of legal fees are usually incurred in arguments over the accuracy of the asset pool. We work to reduce the enormous cost and stresses that can be generated in the process of divorce.
By working together with both parties, we act to minimise the stress and legal costs of splitting assets by calculating the agreed asset and liability pool quickly and producing valuation evidence to support the data.
This allows both parties to move to the second stage of mediation, which is the splitting of the asset pool.
Our documents have successfully formed the basis of numerous Family Court Consent Orders or a Binding Financial Agreement allowing the lawyer to settle to matter in a much shorter time.
As all our financial advisers are accountants, we are able to ensures that the agreed asset allocations consider the optimal tax and cash flow considerations so each of the parties can rebuild their lives.
We work hard to ensure that if children are a part of the divorce, that they are a priority, and well taken care of. We provide advice on the use of Child Maintenance trusts to enable the minor custodial parent to pay child education and maintenance costs tax effectively, which boosts the family’s cash flow. We work with lawyers to ensure these are set up accurately and tax effectively so that you can both walk away satisfied that you and your children are safe financially.