We offer a wide range of services to Family Lawyers.
1) Valuing a business is an important part of defining the asset portfolio
Our business valuations are designed so that any reader can quickly understand the issues at hand. We believe that an expert report should only require on reading to fully understand the essence and the issues. Dolman Bateman business valuations contain an executive summary, where all the vital information is summarised in numbers, words and graphs to maximise understanding.
The report illustrates:
-What valuation method was used?
-What was the basis for future maintainable earnings?
-What multiplier or capitalisation rate was used?
-What was the combination of goodwill and net assets in the valuation?
2) Fixed price quotes
We understand the business valuation process and benchmarks. Therefore we confidently offer fixed price quotes for business valuations. You and your client will know up front what the cost of the valuation will be, so there are no nasty surprises. The fees for a specific business valuation will depend upon the complexity of the business structure, the nature of the business and the profitability of the business operations
In order to provide our fixed fee price we will need to review the financial statements of the business and the income tax returns for the parties for the past three years.
Complete independence is assured
The family Law Practice Guidelines now require all experts to make a declaration that they are independent of the parties and their legal representatives.
Bettering the deadlines
As experienced forensic accountants we understand the importance of deadlines and are strict in ensuring that we meet the requirements of the Court.
Broad sector experience
We have valued operating businesses a wide range of industry segments which include:
-Real Estate Agents
-Restaurants and Cafes
-Building and Construction
Quality Control is a critical discriminator
A principal of the business is always involved in the preparation of every report. Qualified accountants also assist the principal in some some matters. As part of our forensic accounting quality control process, the mathematical and logical accuracy and the readability of each and every report is checked and re-checked.
Bringing reality to the Superannuation valuation equation
Dolman Bateman has considered the needs of Family Law solicitors and their clients and believes that a more comprehensive service than just the straight valuation of superannuation funds is required to sensitively and accurately meet the needs of this ongoing market.
In considering our fees and our past experiences in working with Family Law solicitors, we have found that the solicitors usually have a number of issues that need clarification and further explanation. The valuation of the superannuation interests is only the first step in the process, being the clear identification of the assets and liabilities.
Solicitors and their clients typically ask questions such as:
What are the tax consequences if we split this fund?
If the fund is not able to be split until retirement, what options do we have and what will be the effect on the parties at that time?
If we split a pension, can we take it as a pension or lump sum and what is the effect on both parties?
The husband is currently receiving an invalid pension from a super fund, what options do we have?
When are the funds available to the spouse if the fund is not portable?
In determining appropriate orders involving Defined Benefit funds, it is necessary for a solicitor to look to the future to ascertain what the fund will be worth at retirement and determine both future needs and resources of the parties to ensure a fair outcome for their client. With these factors in mind, we believe that a combination of training, valuation and advice is the most appropriate approach for a responsive service portfolio.
Knowledge and Advice
We offer advice on the effects of the valuation, taxation consequences and background to the fund and how it will pay the retirements benefits. These factors often have a significant effect on Family Law settlements and the clients perception of their settlement. We can offer a fixed fee service that includes both the valuation and additional advice.
Training your people
As a service to the Family Law solicitors, we also offer our services to speak at your conferences and training sessions at no additional cost so that your solicitors are up to date with the issues.
Attending Court and client conferences
The fixed fee price does not include attendance at Court and client conferences. These can be arranged and are charged at the applicable hourly rate.
We have currently worked with over 100 Family Law firms and have delivered over 250 valuations of superannuation interests for Family Law cases.