No matter how complex or challenging your divorce or family law issue may be, we will fight to protect your rights.

Do you need to involve a forensic accountant in your divorce?

On Behalf of | May 15, 2024 | Divorce

You need to work with different professionals during your divorce to make informed decisions. And one of the experts you may need on your team is a forensic accountant.

So, how will this professional help you?

Find hidden assets

If you believe your spouse is hiding assets, a forensic accountant can help you find them. Examples of signs to look out for are:

  • Transferring assets to loved ones
  • Making big purchases
  • Underreporting their income
  • Undervaluing their business
  • Excessive cash withdrawals
  • Sudden interest in cryptocurrency

If you notice any change in your spouse’s lifestyle, request the court to allow a forensic accountant to investigate your spouse’s finances.

Assess your assets and liabilities

After you and your spouse have listed your assets and liabilities, a forensic accountant can assess them to determine if they are correct. While you can do this yourself, it can help to have an experienced, transparent third party do so. Your spouse may argue if you are the one who identifies a discrepancy in your joint assets and liabilities.

Confirm the values your appraiser presents

An appraiser should be on your divorce team. They will estimate the value of your properties to ensure you each get a fair deal. While you need to hire an experienced appraiser, it may not hurt to have a forensic accountant verify the values they present.

Further, your forensic accountant and appraiser can work together to determine the accurate value of complex assets, such as stock options, original paintings, intellectual property and retirement plans.

A forensic accountant is typically involved in most divorces. It may be necessary to hire one in your case. You should also consider seeking legal guidance to understand the steps to take throughout your divorce.