FINANCIAL FORENSICS

During the process of divorce, one of the elements is the exchange of information relating to finances, known as disclosure. This is done in order to determine what a fair division of the assets will be. However, there are instances where one or both of the parties conceal or misrepresent deliberately the value of their assets. Should it be the case that certain assets are not included during disclosure, it cannot be divided, even if it’s the case that it is later discovered it is likely already be disposed of. These kinds of assets are known as hidden assets and should either party be discovered to be hiding assets, the court will take serious action against them. 

All parties in a divorce are under a duty to provide “full and frank” disclosure. This means that they have to tell you about all their assets and income. Unfortunately, some wealthy spouses think that they can hide their assets – placing them under the control of companies, or moving them offshore.

Vardags are very experienced in these types of cases. Our in house forensic accountancy team can search for assets across the globe, and are experienced at understanding and unravelling complicated corporate structures.

In high value cases, it is common for parties to have an inflated view of marital assets. In order to tackle these false perceptions, an accurate and thorough valuation of all your assets is key.

With a unique team of in-house forensic accountants and well-established links with expert valuers, Vardags are adept at demonstrating the true value of shared assets and countering any excessive needs claims.

Spouses having inflated ideas about the value of assets is not uncommon in high value divorces, especially where parties have had a high-spending lifestyle.

This false perception of reality can prove costly for both parties, if not kept in check. Where this is the case, full disclosure will be vital in demonstrating that there are no hidden assets while reassuring your spouse that everything has been done transparently. Equally important will be obtaining thorough valuations.

When an entrepreneur gets divorced, their spouse can sometimes try to get their company joined to proceedings. In doing so, they might be trying to extract cash from the business or dispute how it is owned and held. If you find yourself in this situation, you may well want to make representations to the court.

Vardags, with our corporate understanding and family law expertise, are well placed to advise you. Our in-house forensic accountancy team can help you produce realistic arguments about the value, ownership, and liquidity of the business, whilst understanding the aims and procedure of the family courts.

Where a spouse has significant assets, they can often try to downplay their value on divorce. Attempting to hide or undervalue assets in a divorce carries serious legal consequences, as both parties are legally obliged to provide full and frank financial disclosure.

If your spouse attempts to undervalue their assets, it is crucial that you seek the correct value in order to ensure you get your fair share of the marital wealth.

With in-house corporate and forensic accountancy expertise, Vardags can help ensure that the valuer asks the right question and reaches the right conclusion. We will be able to trace and assess how your spouses’ wealth is held and analyse the accounts to check whether they present a true portrayal of its value.