How a Forensic Accountant can help you in a divorce

A forensic accountant is used in a legal setting to provide vital financial information.  In a divorce matter, we work closely with your attorney both during the discovery phase and if needed during trial. Using various types of documentation, both business and personal such as tax returns, bank statements, credit card statements, etc.,  a specialist can discover unknown financial information. A forensic accountant can be used in a divorce to:

1. Search for hidden assets and/or income – A forensic specialist may find assets that the client was unaware existed simply because of their lack of involvement in the household finances.

2. Review business records – Business valuations can be a major part of any divorce. Reviewing the business records can reveal if any personal or unnecessary expenses not related to the business are included thereby reducing the business income and affecting the valuation in a negative manner.

3. Assist Your Attorney – Determining what documents may be needed in any proceedings is crucial.  If you don’t ask for the correct documentation, then vital financial information may go undiscovered. Preparing for interrogatories or depositions is an important part of any case. Knowing what financial questions to ask can play an important role in the ultimate success of your divorce.

4. Testify in Court – Should your divorce require a trial, a forensic accountant can testify as to what they discovered by reviewing the various financial documentation.

5. Tax Consequences – Provide tax advice on possible settlement proposals.

Going thru a divorce is an emotionally exhausting experience. It can be difficult at times to feel as if you have control over what is happening. Understanding the process and being able to make good financial decisions that impact your life is essential. We are here is help you thru that process.

 

 


 

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