Family Law Advisors
Toronto Family Law Advisors
Professional advisors offer more than simply advice in a family law negotiation. They fill in gaps in knowledge, inform the misinformed, and ensure accountability where doubts arise. Your family law advisors may offer technical expertise or assistance in recognizing and managing emotional tensions. They often collaborate to share knowledge, build a working relationship, reconcile interests to leverage practical options.
The choice to retain relevant family law advisors beyond legal counsel is a decision to be considered by both spouses and their lawyers. Knowing how an outside advisor may benefit the expediency and efficiency of the negotiation process is one aspect to consider. They can offer fresh insights and ensure decisions are grounded in best practices. Further, they can celebrate the wisdom in contrary viewpoints to develop better and more comprehensive durable solutions.
A family law lawyer’s role is monitoring and ensuring legal issues are properly framed to support their client’s position or needs. Neutral family law advisors such as facilitators keep communication flowing, civil, and on track. They insist on adopting communication guidelines to manage divergence of opinions at settlement meetings. They also ensure that each voice is heard. Decisions and ideas are recorded. Having family law advisors at the table means lawyers’ roles are focused on what they do best.
Due diligence or ‘full and frank’ financial disclosure is the basis in family law today. Accountants and valuators are often called upon as invaluable family law advisors to validate and assimilate volumes of numerical data. Confirming what you own and its value may not be simple on the face of it. Ownership can be legal, vested, contingent, beneficial, joint, tenants in common, or as a partner in a joint family venture. It may arise through trust principles or as a bequest from a testator. Value may be impacted by tax liabilities, adjusting entries, accounting principles, market conditions, ‘as is’ condition, and so on.
Chartered business valuators, another group of family law advisors, offer a wide spectrum of advice from income determination for variable compensation earners to partial interests in private companies to a broad range of tax considerations. Accountants, vocational specialists, and financial advisors can assist when shareholders need to step down and transition to a different role or family company subsidiary. Their advice is invaluable when cash flow is compromised as separating families double their accommodation requirements or teens enter post secondary school programs. Inherent in the obligation to disclose corporate balance sheets and investment portfolios is a need to ensure strict confidentiality standards are in place and the handling of private materials is not compromised.
Family business advisors understand the owners’ stewardship and prosperity roles. They work with all generations to understand critical short and long term business decisions in family businesses. These family law advisors pay close attention to continuity and succession and the value of harmony in a business family undergoing change. Relationships matter and collaborative negotiation is a process considerate of those future connections. Lorisa is a certified family business advisor and collaborative negotiator.
The best family law advisors model professionalism while guiding, mentoring, correcting and troubleshooting. They extol their wisdom where and when it is needed and within the scope set by the parties. Cognizant and well versed in their roles, the professional advisor adds value and efficiency to all cooperative family negotiations.