Most couples feature one partner who earns significantly more than the other. Even when both are multimillionaires, one may bring home a few hundred thousand dollars more per year than the other. Regardless of whether they are a five-figure or seven-figure couple, when salaries combine, they allow both parties to live a lifestyle they could not afford on their own. If one spouse earns no income at all, then they become fully financially dependent on their spouse’s earning ability.
So, what happens when either of these couples divorce? The breadwinner quite often tries to protect their own interests. This is a natural instinct and a wise one. Giving away too much could cause them financial struggles down the road. However, some are downright malicious in their attempts to keep money from their partners. It is not uncommon for some to waste the marital assets out of spite or start filing money away to offshore accounts.
MarketWatch recommends ending the professional relationship with a shared financial adviser during a divorce. Considering the risks outlined above, this might make sense for the dependent spouse. The financial adviser may be more likely to serve the interests of the partner who can afford to pay them more money. It also helps to reduce the possibility of a conflict of interest.
Dependent spouses might then consider hiring a forensic accountant to replace the old adviser. Forbes reports that the wealthy often hire forensic accountants when they suspect fraudulent business practices. However, some now bring these services into their marriage. Fraud is not the only reason accountants prove handy in these situations. Some people genuinely do not know what their assets are worth and need a thorough evaluation to divide everything fairly.
Whatever the reason exes hire them, one thing is certain. Forensic accountants help to provide peace of mind.