There can be many complications involved in divorce–both financial and emotional, in the form of the stress it places on the individuals involved. The last thing one needs to confront is the possibility that the opposing spouse is hiding assets or income during the legal process of dividing marital assets, liabilities and income. When that possibility becomes a probability, a specialist with experience in forensic accounting in divorce cases should become involved.
Untangling complicated marital finances and assets can be a confusing experience for divorcing parties unless a professional is involved. Locating hidden assets and discovering unreported or hidden income are often the most difficult aspects of divorce. That is why employing a professional with expertise and experience in this line of work is helpful. Because there are many discrete ways of hiding assets, including false documents and handing assets off to third parties, finding and documenting the true assets and income can be nearly impossible without the skills of a forensic accountant.
Forensic accountants possess the skills of a certified public accountant as well as financial investigation techniques needed to locate unreported income and assets. The forensic accountant benefits the divorce action by providing advice to the client’s attorney in matters such as tax reporting and finance practices and by providing testimony as an expert witness in court.
Basically, divorce is the legal process of dividing assets and income. Because that is the core goal, it is essential that the correct path is taken after one has all the true facts. Armed with evidence obtained by the forensic accountant, the client can make the most forceful offer to settle the matter, and it usually helps the case move more quickly and smoothly.
When faced with the possibility that the opposing spouse is untruthful in reporting property and/or income, the client must deal effectively with that roadblock. Contact us to discuss the issues in your separation and divorce.