Posted by Michael Franklin –
With the many complications involved in divorce–both financial and the stress it places on the individuals involved–the last thing one needs to deal with is the suspicion that the opposing spouse is hiding assets or unreported income during the legal process of dividing marital assets and debts. It is in cases such as this when a specialist with experience in forensic accounting in divorce cases becomes necessary.
This is a very confusing experience for an individual without a professional’s involvement. Locating hidden assets is one of the most difficult aspects of divorce. This is why it becomes crucial to employ a professional with expertise and experience in this line of work. Because there are many discrete ways of hiding assets, including false documents and handing assets off to third parties, the complicated process is nearly impossible without the skills of a forensic accountant.
Forensic accountants possess not only the skills of a certified public accountant, but also the needed financial investigation techniques to locate unreported incomes and assets, as well as benefiting the case by acting as an advisor to the client’s attorney in matters such as tax and finance practices and providing the ability to testify as an expert witness in court.
Divorce is, at its essence, the legal process of dividing assets. As this is the core principle, it becomes essential that the path taken is one possessing all the facts in order for the case to go as quickly and smoothly as possible. When faced with the possibility that the opposing spouse is untruthful in reporting property and/or income, the most important element in the divorce case becomes dealing with this roadblock. It is the foundation on which distribution of assets and all other financial choices are built. Contact us to discuss issues regarding your divorce.