When you have considerable assets, it might be difficult to keep an eye on all of them. Unfortunately, this might set you up for things to go amiss when you are in the midst of a divorce. One way that you can protect yourself is to hire a forensic accountant to help you sift through everything related to the assets to ensure that everything disclosed in the divorce is accurate and complete.
A forensic accountant is a person who can unearth hidden assets. These professionals are usually Certified Public Accountants (CPAs) who have worked to learn about investigating financial matters. They will use searches of public records to find out if there have been any suspicious transactions regarding assets.
If there are things that just don’t look like they should, this person can conduct an audit to try and determine what is really going on with specific assets or situations. This digging might end up with some interesting results that dramatically change the property division process.
Hiring a forensic accountant is usually a good idea if there is a business involved in the divorce and when you just can’t be sure if your ex is being totally truthful in the disclosures. Spouses who weren’t involved in the finances of the marriage might also find the information from a forensic accountant helpful.
You should think of a forensic accountant as a level of defense for your rights in the property division settlement. This person can help to ensure that your ex isn’t walking away with hidden assets that could have benefited you if you had only known about them.
Source: FindLaw, “Should I Hire a Forensic Accountant for My Divorce?,” Nicole Shoener, JD, accessed Dec. 22, 2017