6 Benefits of Analysing Bank Statements in Family Law Matters 🔍
The process of analysing the bank statements helps a lot in finding out the hidden items and creating a pool of information which can assist in negotiating cases better. 🕵️♂️
Family law matters can often be complicated, particularly when it comes to financial matters. 💰 In order to establish financial transparency and determine the financial position of parties, many lawyers go through the process of forensic accounting and analysing the bank statements. 📊
In this blog post, we will explore the importance of forensic accounting in family law matters, especially looking at the benefits of analysing the bank statements. 💼
1. Establishing financial transparency
The analysis of bank statements can help in establishing transparency in the financial affairs of parties in family law matters. When the bank statements are analysed carefully, it can ensure that you have the full knowledge of the other party’s financial position. 💡
This plays a vital role particularly in the following situations:
🔹 where one party may have been majorly in control of the finances; or 💵
🔹 where there may be suspicions of financial misconduct. 😕
2. Identifying income sources 💸
Bank statements can be used to identify all the sources of income for each party. This includes creating a visual pattern of all the incoming amounts including salaries, investment income, rental income, etc. 📈
The analysis can provide the following powerful benefits to lawyers:
🔹 It simplifies the understanding of finances better; 😎
🔹 It gives such a clear picture of finance that lawyers can easily create a mechanism to determine child support payments, spousal maintenance payments, etc.; and 💡
🔹 It can reveal hidden sources where there is a suspicion of financial misconduct or where parties have complex financial arrangements. 🧐
3. Establishing financial contributions
The financial contributions are generally provided as an estimated number without any backing or evidence of amounts which cannot be easily measured.
However, the analysis of the bank statements solves this problem and is useful in identifying the financial contributions made by each party to the relationship. 👫
It is of utmost importance in situations where one party may have made significant financial contributions during the relationship, like paying for a property, etc. 💵
4. Demonstrating financial needs 💭
Modelling of bank statements can be used to create the list of average amounts which a party is spending on various needs such as paying for utilities, food, etc. per week. 📊
This can establish the actual financial needs of each party and is important in determining how much spousal maintenance can be awarded. 💼
5. Facilitating negotiations 🤝
The negotiations between parties depend on the following factors:
🗣 ability to know exactly what to say; ️
⌛ when to say it; and
💪 how to make it count.
With the help of analysing the bank statements, a lawyer gets a clear picture of the financial situation of a party. Just imagine how much it can help in facilitating the negotiations between parties. ✌
| Lawyers who spend time in analysing the bank statements always have an upper hand. They are better prepared for all the answers in relation to the party’s finances on the tips of their hands. 🦸 |
6. Providing evidence for court proceedings ️
The analysis can further help in providing concrete evidence in the Court. This will help the Judge in determining where do parties stand in terms of their finances in simpler words, charts, and visualizations. 📊
Conclusion
Thus, to conclude, the main benefits of analysing the bank statements are:
🔹 It assists in providing powerful insights into what will make the case stronger; 💪
🔹 It makes the case preparation even much easier; 📋
🔹 It gives the lawyers good control of the matter; and 🎮
🔹 It helps in establishing transparency, identify hidden assets, and empowering negotiations. 🦸
Moving forward
If you have chosen to read this article, we are certain of one thing: you are open-minded about going that extra mile and are serious about your professional success. 🔝
The analysis is aimed at increasing your chances of success and will lead you to become more persuasive and influential. This will have a bigger impact on what you have done in a matter. 📈
ReVal Legal Support Services is proud to call itself an expert in this area and is working with a goal of providing lawyers the insights which will help them in preparing a case better. 🧠
Many family lawyers in Australia are working with us and are being empowered with the insights from the financial disclosures of the parties each time they prepare the case. 👥
The analysis prepared by ReVal Legal Support Services helps in nearly every known eventuality while negotiating a family law matter. 🗣️
It also provides a fair advantage in almost every communication with the other side as well as with the client. ✉️
📧 Please Contact Us if you would like to enjoy the benefits of improved efficiency and peace of mind. 💆️
