When determining an asset pool for family law purposes it is critical to consider the following:
For family law purposes, when determining an asset pool, it is critical to consider whether:
- All of the assets will be included in the pool.
- All liabilities been identified.
- All associated entities have been included in the pool correctly.
- All businesses have been valued.
- The business valuation has been reviewed to ensure use of appropriate methodologies and the conclusion is based on facts and reasonable assumptions.
- Review of the structure of the group can identify opportunities and risks for your client. For example there may be unpaid trust distributions owing to your client that can be called upon; conversely your client may owe money to an associated company or there may be unidentified Division 7A issues.
RSM’s specialised cross-divisional Family Law team can assist with all accounting, financial and tax related tasks to ensure the assets, liabilities, business values and tax liabilities are factually correct and objective.
- preparing assets and liability schedules
- asset discovery process
- tracing of assets
- investigating financial records and specific transactions
- tracing transactions within complex corporate or trust structures and international jurisdictions
- reconstructing accounts
- forensic investigations
- business valuations and critiques
- review of disclosure documents
- extraction of information from specialised accounting software
- income investigations