The more assets you have, the higher the stakes are in a divorce. Many people with substantial assets find that hiring a forensic accountant helps them keep more of what they have worked their whole lives to amass. A forensic accountant is, in relatively simple terms, a type of accounting professional who can help you work through numerous financial aspects of your divorce so that you can make sure you wind up with everything you deserve after your split.
Just what types of financial matters might a forensic accountant be able to guide you through?
Determining the value of certain assets
In many instances, professionals who work as forensic accountants also have training in valuation, meaning they may be able to help you put a price tag on assets of unknown value. That way, you can feel confident that you know the actual worth of these assets so that you can divide them appropriately between you. You may find hiring a forensic accountant especially beneficial if you or your ex have complicated business or partnership interests.
Uncovering hidden assets or income streams
Many people also choose to add a forensic accountant to their divorce teams because they feel as if their exes are being untruthful with them. Say you have suspicions that your ex is creating false expenses, padding his or her payroll or otherwise using his or her business to make it appear as if he or she has less to split with you than is accurate. A forensic accountant may be able to uncover these and other deceitful practices so you can get a better chance at securing everything you have a rightful claim to in the divorce.
Hiring a forensic accountant typically involves a certain degree of investment. However, if this professional is able to uncover hidden assets, determine the value of other assets and otherwise help you secure what you deserve in your split, the investment may prove well worth it in the end.