When a couple chooses to divorce it can be an emotional and complicated time. Add in business ownership and it can make the separation incredibly trying for the couple. As a family lawyer, where there is a situation of business ownership and a separation, it is important for me to get a good understanding from […]
READ MOREIdentifying & valuing the asset pool. How accountants can help.
As an accountant, you may find yourself in a situation where one party to a divorce is your client and they run a business in a company, trust or other structure. This will need to be considered as part of the property settlement asset pool so you will likely be contacted by a family lawyer […]
READ MORENegotiating a financial agreement: The processes in our toolkit
As a family lawyer, I see accountants, financial planners and commercial lawyers as playing key support roles when negotiating an outcome for clients who are separating. Accountants and planners often have long standing relationships with the parties involved, so are well-positioned to be able to give instructions to lawyers about an asset pool. They are […]
READ MOREProfessional Network Resource
We regularly write articles to help our clients and professional network so they can better understand concepts and issues surrounding the separation and divorce process. We know that it is in our interests, and yours, for you to be aware and alert to potential issues that could affect our mutual clients. It is for this […]
READ MOREManaging COVID-19 concerns and progressing family law matters
Here at Phillips Family law, the health and well-being of our clients, our team and the community is extremely important to us so we are implementing processes to minimise any risks or disruption in relation to COVID-19. Despite other elements of our lives being impacted by COVID19, it is still important for us to be […]
READ MORECommon ways people put themselves at a disadvantage before (or as) they separate
As an accountant, financial planner or lawyer, you are often the first point of contact for someone when they are separating. Being family lawyers, our firm has seen many ways people can put themselves at a disadvantage before they separate. We share them with you here to provide some context to what your client could […]
READ MOREFinancial Settlements without a Lawyer
When people facing separation elect to do their financial settlement without a lawyer, they are commonly motivated to save money and avoid the litigious process. Some of people can run into problems and they typically fall into one of two categories: People who do an agreement without lawyers and don’t formalise it; or People who […]
READ MOREHow do you work out what the family business is worth?
When a couple separates and begin the process of identifying and valuing the assets in the pool for division, if there is a family business, this can become an area of contention. From my years of experience assisting either the business owners or their spouses, people sometimes have inflated opinions of the worth of a […]
READ MOREAccountants, Financial Planners & Lawyers: What I’ve learned over 35 years as a family lawyer
From the perspective of dealing with other professionals – lawyers, accountants and financial planners – the most significant learning for me is the importance of effective communication between the relevant professionals. The professionals I come across in my work where we have effective communication are able to deliver the most positive impact for their clients. […]
READ MOREWhy can’t you give me a precise answer about my property entitlement?
In my work with clients, one of the areas that people can find difficult to get their head around is the concept of being given a range of outcomes rather than a precise percentage when it comes to their property settlement entitlement. When we mention a range to our clients, for example, between 45% and […]
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