When Suspicions Run High
We’ve seen certain situations where forensic accounting can be extremely beneficial in divorces. A high asset divorce can get very stressful. It can be emotionally, legally and financially complicated. This can be amplified when someone has suspicions that are running high regarding possible hidden assets. In addition to any funny business going on, there could be actual businesses that need to be valued. It starts becoming easy to see why a divorce attorney would recommend a forensic evaluation by a qualified accountant.
What’s Being Examined?
A forensic accountant or CPA involved will not solely gain you access to documents. They’ll be able to analyze a wide variety of aspects that are key to the case. A few ways that the professional can be useful in examining your case are:
- Identify Joint Assets and Liabilities
- Examine Possibility or Actuality of Hidden Assets
- Conduct Appraisals
- Trace Ownership of the History of Assets
- Calculations for Child & Spousal Support
Is It Worth It?
Having a joint high net worth means there could be ample assets that we will need to properly allocate. In that case, it could actually be worth it to save money and further lawyers fees. Keep in mind, a forensic accountant will typically require a deposit to begin. Moreover, the fees could range from $2,000 to $7,000 or even higher. However, this is a drop in the bucket when compared to how long it could take a family lawyer to perform the same service.
Are You Suspicious?
If you are looking to better understand your options, are suspicious and would like to examine your situation further, our team can help you. There are situations where we employ forensic accountants in divorces. Are you considering a divorce and want to know more? Reach out to us on our website, DM or call us today at 888-981-7509 for an in-depth consultation.