Together with your legal team Counterbalance Accounting will help you get all your financial aspects in order giving you confidence and sound financial knowledge to agree your financial settlement. Entering into the divorce arena, you can feel that all the odds are stacked against you when it comes to your income and assets. Especially where perhaps the other party has always had control over the household finances or have managed their business affairs separately. Focusing on your financial future now can be a daunting prospect.
Counterbalance Accounting can help re-dress this sense of imbalance
By using the financial information available and analysing it, Counterbalance Accounting will access the quality of it (i.e, what’s missing), and will sense-check it. It will then be re-presented in a way you can understand it; giving you the confidence to move forward.
To put it simply, by making sure the financial information you have is fair and as complete as possible, you are in a stronger and better place to come to a fair settlement.
Counterbalance Accounting can give you the confidence that you did everything you could to provide a home for yourself, your children and to safeguard your current and future needs.
It’s not about winning or losing but about resolving a difficult, complex and emotional situation as best you can, whilst being confident that you are in control of the financial decisions you are making.
Counterbalance Accounting is about helping you make informed decisions about the financial part of your divorce or separation and gives you back control at a time when you can feel lost.
What can Counterbalance Accounting do?
- Respond to your needs as the client and support you with the financial information you need
- Take on those financial tasks that are time-consuming or where “the accounting” makes it difficult to understand
- Present the financial information in a clear and simple way, helping you understand your situation
Specific areas of help might be
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Review of your own assets, income, costs and liabilities
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Identifying how to maximize your own earnings whilst taking into account childcare costs
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Review of your spouse’s income, assets and liabilities
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Review and analysis of financial information from bank accounts and credit card statements
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Review of company, partnership or business financial statements and management accounts
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Sense-checking that the business results make sense, is there anything missing, does the income level really reflect the business activity, are the costs a fair reflection of operations?
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Assistance completing your Form E
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Helping prepare a response to any questions that may arise from your own Form E disclosure
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Review of your spouse’s Form E
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Identifying deficiencies in your spouse’s Form E and preparing a questionnaire to follow up any inadequacies
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Review and assessment of business, property and investment valuation reports and challenging them where appropriate
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Considering basic tax issues, review of any tax calculations and the tax implications of any settlement proposals
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Projecting future costs or assisting in calculating a lump sum settlement
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Preparation of a post-divorce budget either to help determine the long term position of a particular settlement or to help you settle into your new lifestyle