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What is a forensic accountant, and how do they help during divorce?

On Behalf of | Mar 23, 2021 | Family Law

Forensic accountants are specialists who investigate where money has gone or where it is coming from. They specialize in tracking funds and unraveling cases where fraud may be present.

A forensic accountant can help during a divorce, because they are able to look over financial reports and documents to find missing or hidden assets. With that ability, the could assist you in proving that your spouse is hiding assets or just help you find all of the assets that need to be divided in the divorce.

Do you need a forensic accountant during your divorce?

Anyone who has a great number of assets should consider having a forensic accountant on their team. Why? It is your responsibility to present a list of all of your assets, and a forensic accountant can help you make sure you don’t miss any.

When you have complex assets or other financial issues, a forensic accountant has the ability to go over those finances and to track where money is going or where it has come from. If your spouse is stalling and not turning over financial documents, that’s a red flag that you need a forensic accountant as soon as possible.

You can also use a forensic accountant if you believe that documents have been manipulated. For example, if you believe your spouse understated their income on his last tax return, then your forensic accountant may be able to shed light on those concerns.

Can forensic accountants testify on your behalf in court?

Yes, and that makes them indispensable. Your forensic accountant is able to testify on your behalf and to discuss their findings with the judge. If you are not going to court but instead trying alternative dispute resolution options, having a forensic accountant run the numbers may help you have more leverage to get what you need out of your marriage.

Hiding assets or manipulating accounts is not legal, and it can lead to serious consequences if someone is caught. Having a forensic accountant on your team will help you protect yourself and prepare evidence of your spouse’s actions if they are trying to deceive the court.