Dividing financial assets during a divorce is stressful. That is why many high-asset cases involve a forensic accountant.
Forensic accountants are great for revealing information to make the divorce fair. They are commonly known for their ability to uncover hidden assets. However, they also provide asset valuations to help develop fair estimates for child support and alimony payments. Please keep reading to learn more about this profession and what they do.
What are forensic accountants?
Forensic accountants are investigators who look into people’s finances. They use special software to dig into people’s accounts. In legal cases, such as divorces, the parties often hire them to see if the other is hiding any assets. In addition, they can offer audits on complex cases, which gives data to help settle divorces.
Can they identify joint assets?
A lot of marriages involve one spouse having control over the finances. That can be a problem during divorce because the controlling spouse may hide assets to receive a better portion of the settlement. Forensic accountants can uncover anything a spouse may try to hide. That promotes transparency and creates fairer settlements.
Can they appraise assets?
Forensic accountants also know how to get the details behind asset numbers. They have the tools to examine and verify asset values. They can do this for all assets, from businesses to real estate, so divorcees receive a fair settlement.
Using forensic accountants can help divorces go smoothly. That is especially true in high-asset divorce cases. In addition, any individuals who suspect their spouses are hiding assets should consider hiring one for their divorce.