When it comes to
divorce, the most important aspect involves
dividing marital assets and debt. While some cases are relatively easy, couples with complex financial
portfolios or own a business must undergo a more complicated process.
That is why using a forensic accountant can help disclose vital financial
information and documentation.
A forensic accountant deals with different kinds of personal and business
documentation which can reveal certain financial information about a spouse,
such as bank and financial statements, accounting records, appointment
books, business contracts, sales invoices, and other documentation. However,
it is important that you also stay involved throughout the process, because
you are more familiar with your spouse’s habits, close relationships
with peers, traveling routine, as well as their attitude regarding taking risks.
The following are the advantages of having a forensic accountant on your
side throughout your divorce process:
- Find hidden assets and/or hidden income
- Look for inconsistencies regarding financial information on specific documentation
- Corroborate financial information with non-financial information
- Help your lawyer prepare document requests
- Help your lawyer prepare interrogatories, deposition, or trial questions
to be asked
- Calculate cash flow which can be used to calculate support payments
- Figure out and quantify personal expenses on both sides
- Conduct a business valuation
- Review work performed by the forensic accountant that’s working with
- Testify in court or at depositions
- Provide information throughout the process of settlement
Working together with your forensic accountant can keep you informed about
your spouse’s financial portfolio and help you reduce the amount
of money and time associated with the divorce process. While some people
may be emotionally drained and want to have professionals handle the process
themselves, having complete control in your divorce can help successfully
establish the next chapter of your life.
Contact Saponaro Barach Bingham LLP for more information or
schedule a free consultation with us today.