September 26, 2017

Professionals | QLD

My Client Has Separated, What Do I Do?

Your client’s fiscal life flashes before your eyes; carefully structured entities will be torn down, life savings squandered, properties transferred with no thought to the tax consequences, a rapacious agreement put in place that will result in impoverishment… and that is just what your guy’s family lawyer will do, who knows what the spouse is after?

As an accountant or a financial planner, you find yourself in a tough position. You know your client’s affairs better than anyone else. You have steered them though ups and downs, referred them off to other experts when the time is right. You are the trusted adviser and your client trusts you to send them to the right person.

The question for you is - when do you refer them to a family lawyer? At what point do they need to see a lawyer? Do you put their finances in order first? Will that damage their case once they see a lawyer, or will the spouse point the finger at you as having done something wrong?

Do we pay the tax now, or do we delay? Do we borrow for living expenses? Do we let the business partner know, and do we bring forward trade creditors? Is your job just to update the table of assets and liabilities?

Come along to the McInnes Wilson Lawyers Professionals Seminar next Thursday (5 October) to hear from Pierce Carstensen, Principal and learn how we can work together to help your client’s avoid the common disasters in a family law matter. Pierce excels in working with his client’s accountants and financial planners to achieve results specifically tailored to the client. Places are limited so book today. 

Enter your details below to download a checklist of documents that you can begin collecting for us on behalf of your client.