A forensic accountant can help clarify the issues in a will dispute
Will disputes are surprisingly common and as forensic accountants we see many common themes from dispute to dispute.
A Will is a legal document in which you state how you want your assets to be distributed after your death. A Will can also detail who will be responsible for ensuring your instructions are carried out. This person is called an Executor.
Many wills require a beneficiary to reach a certain age prior to receiving distributions from the trust. In some cases and depending on the provisions of the will, money can be accessed from the trust before this time and we have assisted clients with obtaining appropriate supporting documentation to support these types of claims on the estate.
Forensic accountants are more typically used when assets have gone missing or there are suspicious transactions arising from the estate. These types of situations more commonly arise when one of the beneficiaries is also the executor of the estate.
In cases where there are a large number of real property, share transactions or banking transactions we can be called in by one of the beneficiaries to undertaken a quantification and reconciliation exercise.
This can provide the clarity to the beneficiaries as to exactly what has happened since distributions were made from the estate.
It’s common that allegations of misappropriation of assets or funds arise and we can help determine if this has actually occurred. Like any forensic investigation, there is only so much we can do from publicly available documentation. Ideally we need as much supporting information as possible in order to reconstruct or investigate a particular issue.
Contrary to what many believe, it can be very cost effective to retain a forensic accountant and we find that it can actually save a beneficiary money through their engagement. This is because the lawyers on the case need to spend less time trying to understand the accounting or finance issues.
For more information or discuss your matter on an obligation free basis, please contact us today.
About the Author
Andrew Firth is a Chartered and Forensic Accountant who specialises in all types of financial investigations. He has a particular interest in solving complex share, real property and will disputes.
He is currently working on a number of inheritance disputes and would be very happy to speak with you in relation to your matter. For a no obligation discussion, please call 1800 454 622.