Divorce can be challenging and complex, especially when you have high-value assets involved. In those cases, a forensic accountant is a great resource for ensuring the accuracy of financial details. This helps ensure fair asset division.
There are several ways that forensic accountants may be able to help your high-asset divorce process.
Unbiased financial analysis
With 28% of divorcing couples reporting finances as a leading source of conflict in the marriage, an impartial assessment of the marital finances is important. Forensic accountants review financial statements, records and documents to create an accurate and comprehensive assessment of your assets, liabilities and income. This assessment serves as the foundation of your asset division.
Identification of hidden assets
In high-asset divorces, one spouse might attempt to hide assets from the court in hopes of keeping that asset for themselves. Forensic accountants identify hidden or undisclosed assets. Some commonly hidden assets include bank accounts, properties and income sources. The forensic accountant ensures the accuracy of asset declarations as part of a fair division process.
Valuation of complex assets
When you have complicated or unusual assets, a professional’s valuation input can help establish the baselines for the court to consider in the settlement. Forensic accountants have the skills to assess the value of intellectual property, real estate and investments as part of your case.
Expert testimony
If a high-asset divorce case goes to court, expert testimony weighs heavily with the judge. A forensic accountant can testify about their valuation procedures and results to help the judge determine a fair and reasonable asset distribution.
Forensic accountants specialize in unbiased financial assessments and reporting, which helps the courts settle high-asset divorce cases equitably and efficiently.