Every divorce is different. Just as every couple has different factors that ultimately contributed to the split, every couple also has its own matters to work through with regard to dividing up assets and debts.
In some cases, the process of asset division can prove relatively simple. If, for example, you and your former partner married young and split soon after, you may not have had time to amass shared possessions or otherwise intertwine your financial lives. In other scenarios, however, the process can prove far more convoluted. In such circumstances, divorcing parties are increasingly turning to forensic accountants to help them secure their fair share in the split. So, what types of matters may a forensic accountant help you work through, and when could it benefit you to add this kind of financial professional to your divorce team?
When you do not trust your partner
One of the most common reasons people hire forensic accountants to assist them in their divorce cases is when one party in the marriage feels as if the other is hiding assets or income information in an effort to come out “on top.” Say, for example, that your former partner is declaring he or she only brings in a certain amount a year, but you suspect his or her real income level is actually much higher. Under such circumstances, a forensic accountant may be able to help you get the full truth on your ex’s income and assets so you can divide everything appropriately between you.
When you have assets of questionable value
Having a forensic accountant on your divorce team may also come in handy in the event that you or your ex have assets of undetermined value. In many cases, this type of financial professional can help you appraise certain assets so you can split them up accordingly between you. This can prove especially helpful if one of you has particularly complicated assets, such as a valuable art collection or complex stocks and bonds.
Ultimately, a forensic accountant may be able to help you work through any number of important matters relating to your finances. If you have concerns about getting everything you deserve in your divorce, consider making this addition to your divorce team.