For some married couples who decide to go their separate ways, detangling their finances and assets can prove relatively easy, while for others, the process can prove long and convoluted. Increasingly, divorcing parties who have complex financial portfolios or assets of undetermined value opt to hire forensic accountants to assist them through their divorces and help ensure they get their fair shake.
While virtually anyone making his or her way through a divorce could potentially benefit from having a forensic accountant on his or her divorce team, several scenarios exist under which you may find hiring one to be especially advantageous. For example, you may find it useful to hire a forensic accountant if you:
Do not trust your former partner
Arguably one of the most common reasons divorcing parties hire forensic accountants is because they believe their exes are concealing assets or income information. Forensic accountants typically have the training and knowledge necessary to help them uncover hidden assets and sources of income, and this can prove especially beneficial if your former partner is not being forthcoming about how much he or she makes or has tucked away.
Have assets in need of appraisal
You may, too, benefit from enlisting the aid of a forensic accountant during your divorce if one or both parties in the marriage have assets of which you are unsure of their value. Many forensic accountants also have the skills necessary to appraise rare or specialty items, so this type of financial professional could feasibly help you appraise valuable artwork, antique vehicles and other collectibles or assets of undetermined value.
If you are part of a high-asset divorce, or if you otherwise have concerns about getting what you deserve during asset division, hiring a forensic accountant to help you may pay off in the long run. In addition to potentially helping you get more than you would otherwise, having this type of professional on your divorce team can do wonders for your peace of mind.