
What Is The Role Of A Forensic Accountant In A Divorce?
A forensic accountant can be helpful during a divorce, even if you do not think that you and your spouse have an overwhelming amount of assets to keep track of. A Morristown high net worth divorce attorney from our firm can tell you more about what this professional does and why you should consider using their services when you and your spouse split up.
What Does a Forensic Accountant Do?
A forensic accountant can investigate you and your spouse’s individual and combined finances. They can look at spending, find discrepancies, and help you value assets that may be tough to value on your own, like a shared business. Overall, a forensic accountant is there to give you a clear financial picture before you negotiate about how you and your spouse will divide property or make financial agreements, like alimony.
How Can Hiring a Forensic Accountant Be Beneficial?
When you hire a forensic accountant, you can make sure that you are not missing any important financial information. You can negotiate in good faith because both spouses understand exactly how much their property is worth. This professional can help:
- Uncover any hidden assets
- Discover problematic behavior, like one spouse squandering funds on an affair
- Value a business, investment, property, or another shared asset
- Show how a disputed property is a separate property, owned by just one spouse
- Solve conflicts over how much an asset should be valued
- Testify about complex financial topics if needed
If you and your spouse share a business or have plenty of investments together, hiring a forensic accountant is practically a necessity. However, you do not have to be incredibly wealthy to benefit from the services of one of these professionals and their ability to disentangle your finances and make the stakes of any negotiation clear.
Are Accountants Only Needed During Divorce Litigation?
Forensic accountants can be quite helpful during the divorce litigation process. When you have an accurate accounting of each spouse’s financial situation and the value of shared assets, the process can go faster and cost you less money.
This isn’t the only time these professionals can be helpful though. A forensic accountant can also be hired when you explore alternatives to litigation. Whether you and your spouse have decided on mediation or collaborative divorce, an accountant can help you ensure that everyone is working with the same, accurate financial information.
Talk to a Divorce Lawyer
So if you are going through a divorce and you want to make sure that your spouse is being honest about assets and finances, a forensic accountant can help. Contact Lazor Rantas, PC to schedule a meeting with our legal team and talk to a lawyer who can connect you with any professionals that you need to keep your divorce fair.