Business valuations for family law matters are often required in order to ascertain the value of businesses and companies that form part of the marital assets. Business valuations for family law matters provide an opinion of the value of a businesses or companies, thus enabling the court (or parties by agreement) to determine how to split their joint asset pool.
In September 2021 there were important changes in family law impacting you and your clients. Under the Federal Circuit and Family Court Act of Australia 2021 (Act), the new amalgamated Federal Circuit Family Court of Australia (“the Court”) is supported by new Family Law Rules and a new Family Law Central Practice Direction, including a case management pathway. The changes aim to facilitate the just resolution of disputes, as quickly, inexpensively, and efficiently as possible.
The case management pathway places significant emphasis on providing dispute resolution opportunities to assist in resolving, or better identifying, the issues in dispute. The Court’s expectation is that parties will avail themselves of every opportunity to participate in dispute resolution. The case management pathway aims to enable the court to clear 90% of cases within 12 months.
Under this new family law environment, seeking timely, independent valuation advice will assist you and your clients to resolve their family law cases efficiently and in the spirit of the recent changes.
At Groves & Partners, we have undertaken numerous business valuation engagements for family law purposes, and we set ourselves apart from other business valuers by priding ourselves on:
- Being specialists in valuation advice. Our team of expert valuers provide independent advice on businesses, companies and private shareholdings;
- Providing timely valuation reports – we can produce our valuation reports within 5 to 10 business days, subject to how quickly we receive your client’s valuation information;
- Providing cost effective services – we never charge for initial consultations, simple advice, short phone calls or emails, and ensure our bills are always commercial and cost-effective;
- Always communicating clearly and frequently, throughout the matter, responding promptly and providing regular feedback to all parties involved in the matter, and;
- Ensuring our independence and objectivity is maintained throughout carriage of the matter to ensure if the matter does proceed to court our valuation report and opinion will be admissible to the Court.
Find Out More
Groves & Partners are expert business valuers, company valuers and share valuers. We have significant experience in undertaking business valuations for family law matters, including significant expertise acting as single, jointly appointed business valuers and as shadow expert business valuers. We have appeared in the Family Court of Australia to provide verbal testimony.
Our team of business valuers includes Chartered Accountants, Registered Business Valuers and Certified Minority Interest Valuers. To find out more about our family law business valuation services please phone us on 1300 892 717 (+61 2 7208 7970) or email info@groves.com.au.