This month, we explore the nuanced approach a valuer can take when helping families resolve disputes. Our internal data confirms that family law matters often increase during economic uncertainty, with family law services ranking among our top two most requested offerings within our advisory portfolio.
How Are Valuations for Family Law Different?
Family law valuations are not merely a technical exercise; they require a nuanced understanding of the legal framework and expert witness protocols. Unlike standard valuations, those conducted for family law cases must adhere to specific regulations, ensuring that the valuation is both compliant and credible.
A valuation for family law purposes should be completed by accredited valuers who are certified to undertake such work. The most experienced and knowledgeable valuer should complete the valuation report for that instruction. It is important that the reporting valuer is experienced in both the location and the property type. Valuers often understand that markets within markets can exist and that local knowledge should be reflected in the valuer’s work.
The valuation report is one part of the process, as there is also the requirement on occasions for the valuer to provide evidence in court. Valuers should be prepared for any court work and well-versed in their valuation reports. The presentation of the valuation in court should leave the court in no doubt of the integrity of the valuation. Valuation reports and court testimony should be clear, factual, and easy to understand. The quality of their court testimony can impact the outcome of the proceedings, reinforcing the credibility of the valuation.
Why Acumentis Prioritises Care in Family Law Valuations
Separation, divorce, and legal proceedings are often highly emotional situations that can be further exacerbated if all parties do not understand the valuation process. Experienced valuers are trained to provide clear and objective valuations and handle sensitive situations with professionalism and discretion. Good valuers understand the importance of maintaining neutrality while delivering comprehensive, quality reports that help facilitate legal proceedings.
Valuers must follow strict protocols when communicating with solicitors and their clients. This involves a clear, structured process for gathering information, managing expectations, and ensuring that all communications are transparent and in line with legal requirements. This assists in delivering a robust valuation in a timely manner.
A skilled family law valuer is much more than a technical expert in property. They must navigate emotionally charged situations, adhere to complex, strict legal processes, and be prepared to give evidence in court if necessary. Strong report writing and effective court testimony are required skill sets for family law valuers. While valuation fees can be a consideration, the valuer’s experience and knowledge of the family law process should be given greater importance.
The role of valuers in family law is indispensable, particularly in challenging economic times. Their expertise not only aids in achieving fair settlements but also supports the integrity of the legal process itself.
Did you know?
- Acumentis family law valuers are required to complete an internal accredited program, in addition to the minimum experience, to qualify for family law valuation services.
- Acumentis offers business valuations as part of our services for family law settlements.
- Acumentis provides valuations across residential, commercial, and rural property assets and national portfolios, specifically for family law settlements.