When you’re going through a divorce, it’s helpful if you can work with professionals who understand what you’re going through and trained to handle cases like yours.
One of the professionals who can be very helpful is a forensic accountant. A forensic accountant is trained to “follow the money” and see where all of your financial assets are. They can track down hidden assets or look for assets you’ve forgotten about.
A forensic accountant helps you know how much your marital assets are worth
One good reason to work with a forensic accountant is because they can help you know how much your marital assets are worth. They’ll go through your accounts and identify each one. They may list out items such as:
- Stocks and bonds
- Savings accounts
- Credit cards
- Personal loans and lines of credit
- Checking accounts
- Business accounts
These are a just a few of the financial items that a forensic accountant could look for.
Think of a forensic accountant as a kind of detective. Their job is to locate all of the assets they can and to see where money is going.
If you think that your spouse is hiding assets or setting aside money in another account, the forensic accountant may be able to track money to see where it could be going. They’ll look at your banking and credit card statements, as well as others, to get an overall view of your financial situation and to begin identifying your assets for the purposes of your property division negotiations.
A good forensic accountant can help your case
Having a good forensic accountant on your team could help you prevent hidden assets from being withheld and help you be sure that you have identified and disclosed all of your assets to the court. A full disclosure is necessary to protect yourself legally, so it’s valuable to do all you can to identify your assets.
Not all people work with forensic accountants, but if you have concerns about your divorce case, you may want to talk to your attorney about the possibility of having a forensic accountant run through your financial documents.