What are the benefits of forensic accounting in divorce?

On Behalf of | Oct 8, 2020 | Divorce

When a high asset Monterey couple gets a divorce there is a lot at stake. Property division is one of the most important parts of a high asset divorce so making sure everything is accounted for is critical. Property division can be difficult and contentious and not all spouses are on the up and up. If a person suspects that their spouse is hiding assets, forensic accounting may be important.

What is a forensic accountant?

A forensic accountant is a person who can investigate financial records to make sure they’re complete. Once all of the required court disclosures are made a financial accountant will move in to investigate if any assets are missing. They can investigate both spouse’s financial information and conduct an audit if necessary.

Benefits of hiring a forensic accountant

There are many benefits to hiring a forensic accountant for a high-asset California resident. A forensic accountant can uncover hidden bank accounts and other hidden assets. They can help a disadvantaged spouse get their fair share in a divorce settlement. If all assets are not declared or uncovered during the divorce process, then a person cannot go back in after the divorce is finalized. Having all assets accounted for before the divorce is finalized is critical.

A Monterey resident who is going through a divorce should consult with an attorney to help them understand their options when it comes to property division. An attorney understands that property division is one of the most important parts of the divorce and they will help their client make sure it is fair. Property division can have implications for a person for decades so it is important that a person is able to look ahead and understand how their decisions will affect their future.