If you’re a high-net-worth individual, your divorce will be distinct from traditional divorces. Your divorce will be more complicated for one reason and one reason alone: the sheer volume of assets involved. So, does this mean that you’ll benefit by adding a forensic accountant to your divorce team?
First, let’s discuss what a forensic accountant is and what they do. Justin Pope of the Associated Press said, “Forensic accountants inhabit a cloak and dagger corner of the accounting world. Their job: respond at a moment’s notice when a client spots trouble – anything from procurement fraud to a top executive cooking the books to industrial espionage.”
Pope continued, “You have an external auditor – that’s like a guard dog. Maybe a bulldog. An internal auditor is a seeing-eye dog. A forensic accountant is a bloodhound.”
Forensic Accountants & Divorce
Forensic accountants often provide their expert opinions at trials. They utilize a variety of top-notch accounting skills like auditing, but they also use investigative skills to find out which financial events actually took place, despite what the players are saying happened.
In the context of divorce, forensic accountants can offer litigation support and business valuation. They can also search for hidden assets, the falsification of financial statements, insurance fraud, and much more.
Are you suspicious of your spouse? If so, forensic accountants are naturally suspicious by the nature of their occupation. If you suspect your spouse is hiding assets in anticipation of divorce and to cheat you out of your fair share under Nevada law, you probably want to add a forensic accountant to your divorce team.
Forensic accountants know how to apply their accounting knowledge to divorce issues; therefore, they can be invaluable when it comes to assisting in high-asset divorce cases.
To learn more about adding a forensic accountant to your divorce team, contact Ford & Friedman at (702) 904-9898 today.