Forensic accountants are able to assist at various stages of divorce proceedings, and can provide a sharper picture of the financial condition of the parties, their businesses and assets and identify if there are any undisclosed assets. This can be invaluable in a complex divorce in which there are a large number of assets acquired over a period of years or investments that have been bought and sold tracking where the proceeds were placed and unraveling pensions and other retirement funds. The objective is to obtain a clear and concise picture of the couples entire financial structure so that appropriate means can then be employed to create an equitable division based on each parties contributions.
FORENSIC ACCOUNTANTS PROVIDE TRANSPARENCY
Typically, a forensic accountant is brought in when a divorce involves a particularly complicated or troublesome financial situation. They can be used to evaluate a business or assets or when one spouse suspects money is being hidden or money is being improperly used. The forensic accountant can reveal important financial data that may affect:
Hidden or missing assets, business or personal accountants, fraud
Business holdings and negotiated contracts with delayed payments
The forensic accountant is uniquely trained and experienced to get to the bottom of each financial transaction and offer far more than determining if there has been fraud.
FORENSIC ACCOUNTANTS ENSURE
UNBIASED REPORTING OF FINANCIAL STATUS
In spite of the fact that forensic accountants are more commonly used in high-asset divorces, anyone facing a complex financial situation can benefit from their services. A forensic accountant can help you if you and your spouse have multiple investments in property, or other hard assets, stock options, or otherwise have complex finances. If substantial premarital properties or investments are involved, pensions and retirement funds or insurance policies a forensic accountant can help unravel the situation and bring clarity.
FORENSIC ACCOUNTANTS HELP ENSURE
AN EQUITABLE DISTRIBUTION OF ASSETS
It can be particularly difficult to determine the proper division of ownership of joint investments when a mix of premarital and marital monies was used and when investments appreciate at different rates over a number of years. A qualified forensic accountant can unravel these and other complex financial issues and provide expert witness testimony in court, if needed.
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