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Divorce Accountant

Divorce Accountant is the term increasingly used to denote a specialized accountant who focuses on the financial side of Divorce and matrimonial affairs.

The phrase is believed to have been first coined by the UK chartered accountant Nick Talbot in 2005. Shortly after leaving the international accounting firm KPMG[1] - where he had been a senior audit and investigations partner for many years - Nick Talbot was confronted with his own divorce. Experiencing at first hand just how complex the money issues could be and the importance of dealing effectively with the financial side of divorce,

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Nick Talbot [2]realised that many people would need more than just a solicitor to get them through the financial complexities.

On that premise, the concept on the Divorce Accountant was born. Until that point, the accountant's role had generally been restricted to providing forensic reports, often on a single joint expert basis, regarding the valuation of businesses. Or perhaps addressing tax issues.

The lawyers had been left to deal with the finances, which Nick regarded as odd, bearing in mind their lack of accounting skills. Nick saw that in many divorces there was a role for a Divorce Accountant, whose function would be far broader than hitherto. He recognized that the skills of a Divorce Accountant could be crucial in presenting the financial affairs of either party in the most appropriate way - starting with the preparation of Form E and preparing an initial business valuation.

For many people the detail of divorce finance can be bewildering. It is hard enough to figure out how an individual’s financial position should be disclosed. A greater challenge may be to get to grips with the finances of the other side. Not everyone is entirely comfortable with financial matters. Nor is everyone familiar with business accounts, share options, pensions, managing bank accounts and budgets. The other side may misrepresent their wealth and downplay their income. Their financial disclosure may need to be challenged. Unraveling their true situation, investigating income and business values and probing further with pertinent questions is the expertise of a Divorce Accountant and helps to ensure that one party is not disadvantaged in the sharing of the matrimonial pot.

Increasingly it has been recognized that having a good Divorce Accountant is at least as important as having a good solicitor.

A Divorce Accountant helps achieve a better financial result in a divorce. By examining the finances in detail to establish who’s got what, where it came from and how much it’s worth. By presenting an explicit picture of the finances, the arguments as to how the assets should be shared become far more persuasive. Since most divorces never reach Court but are settled beforehand by negotiation Divorce Accountants help improve the negotiating position in any out-of-court settlement. Their reports help present more persuasive evidence to the other side, to Counsel and to the Court should it get that far.

For many, the divorce is all about money and engaging a Divorce Accountant from the start enables financial expertise to be utilized from the outset. Approaching divorce with a Divorce Accountant alongside is very often much more effective, and less-costly, than leaving finance solely in the hands of the solicitor.

Nick Talbot leads the organization known as My Divorce Accountant [3] at www.mydivac.com. This is not a firm in itself, but an association of senior chartered accountants; specialists in divorce, veterans in business and their dealings and experts in Form E.

a link

Harry Potter is fairly straightforward but no one really knows where this goes to. How about more specificity?

practice

MyConcordiaPortal is a account system for concordian.