How financial analysis can increase negotiating power in family law cases?
Negotiating a settlement in your client’s favour in family law cases can be difficult. It requires lot of preparation, a thorough strategy and a great grip of the parties’ financial position. 💼
How would you feel:
♦️ if the other side or the Judge ask you any question about the party’s financials; or
♦️ if the other side just makes a random comment upon the financial position of the parties?
If you conduct the financial analysis, you will be better prepared for these scenarios. 📊
The financial analysis provides a clear picture of each party's financial position which can be used to develop a negotiating strategy by:
♦️ identifying potential areas of compromise; and
♦️ having a thorough understanding of each party's financial position.
It can certainly help in making the negotiation process go more smoothly for you.
In this blog, we'll discuss how financial analysis is useful to effectively negotiate family law cases.
Complete List of All Assets and Liabilities
Financial analysis can help you identify all of the assets and liabilities of the parties. This is critical when dividing property fairly and equitably. It can help to ensure that you have been provided with accurate and comprehensive financial information, which is essential in negotiating a settlement.
Evaluating Income and Expenses 💸
Financial analysis provides a hawk’s eye view on the various income and expenses of the parties This is extremely useful for proper asset division as well as in cases of calculation of spousal maintenance or child support payments. Knowing a party's sources of income and expenses is also useful in spotting any discrepancies that need to be investigated further.
Also read: 6 Benefits of Analysing Bank Statements in Family Law Matters 🔍
Financial Needs Analysis 💰
Isn’t it useful if you are able to assess and calculate each party’s financials backed with evidence?
The analysis of financial disclosure documents can help with this process because it provides a thorough understanding of each party's earnings, expenses and assets. This is the raw data which can be then used to determine each party's financial needs. This dataset will provide sufficient information to calculate the future needs.
| It is critical to evaluate financial needs in order to negotiate a fair and equitable settlement since every number matters. |
Conclusion
It is critical that financial analysis is conducted in family law cases while preparing for negotiations. The financial analysis is aimed at increasing your chances of success and will lead you to become more persuasive and influential. This will always have a bigger impact at what you have done in a matter.
With the help of financial analysis you will be able to identify all assets and liabilities as well as evaluate income and expenses.
Therefore, in order to negotiate a fair and equitable settlement, financial analysis is a must.
Moving Forward
Do you think it will empower you to lead and prepare the Family Law case even better?
Would you be interested in getting a report which can answer the above as well as many other questions like that?
If yes, there’s an expert team which can do this for you.
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. 💆️
