Divorce is a stressful and complex legal process and, when substantial assets are involved, the financial aspect of it can get complicated. Therefore, having a forensic accountant can be essential in helping you obtain the information you need to achieve financial transparency and ensure your interests are protected.
Forensic Accounting in a Divorce
Forensic accountants can be useful in a variety of cases, including bankruptcy, tax evasion, and divorce. In the context of a divorce, the duty of a forensic accountant is to audit a spouse’s finances and interpret the data for proceedings. Finances are often the biggest point of contention in a divorce, which is why forensic accountants are such an essential element in this process.
Here are some ways in which a forensic accountant can assist with your divorce case:
- Uncover hidden assets: It is no secret that divorce can get messy and, in some cases, spouses may attempt to hide assets. A forensic accountant will know how to discover these assets to ensure you receive your fair share during this process.
- Identify joint assets and liabilities: It is not uncommon for one spouse to handle the household’s finances and, unfortunately, this can put the other spouse at a disadvantage in a divorce. Having a forensic accountant on your side can help ensure transparency.
- Appraise properties, assets, and businesses: Determining the value of your assets can be a major undertaking, but it is a crucial part of facilitating a fair division of marital property. A skilled forensic accountant will accurately calculate this value.
- Determine alimony and child support: It is not unusual for spouses to under-report income to minimize their financial obligations. A forensic accountant can determine your spouse’s income to ensure these payments are accurately calculated by the court.
Speak to an Experienced Divorce Lawyer About Your Case Today!
If you are divorcing your spouse and have substantial assets, the family law team at Ford & Friedman can assist you. Our legal team is experienced in handling high net worth divorce cases, so you can rest assured we will protect your interests and help you obtain the fairest outcome for your case.
Reach out to our law office today at (702) 904-9898 to schedule a consultation with one of our attorneys to get started on your divorce case and learn more about what we can do to help you.