6 reasons you may need a forensic accountant for your divorce

Going through a divorce can be financially complex. Sometimes you need further financial guidance to receive your fair share of your assets. This is where a forensic accountant can help. What should you know about these financial professionals and the role they may play in your divorce?

What is a forensic accountant?

Forensic accountants use their skills in accounting, auditing and investigating to look closely at financial records and transactions. They uncover facts, patterns and potential discrepancies. These financial professionals look beyond the numbers to reveal the truth about your finances.

Do you need a forensic accountant?

The specialized skills of a forensic accountant can be particularly valuable in some divorces. You may want to work with a forensic accountant if:

1. You have complex assets: If you and your spouse own complicated or high-value assets like businesses, investments, real estate, or intellectual property, a forensic accountant can help figure out their value or separate commingled funds.
2. Your divorce involves hidden assets: If you believe your spouse has hidden assets to keep them from being divided or reported in the divorce, a forensic accountant can find them.
3. You or your spouse have overseas assets: Having assets or financial interests in other countries can make it tricky to value and divide them. A forensic accountant can handle these complexities.
4. One spouse is self-employed: If you or your spouse runs a business or is self-employed, a forensic accountant can examine the business records and finances to properly determine income.
5. Your financial statements are inconsistent: If the financial documents from your spouse have inconsistencies or irregularities, a forensic accountant can provide a clear picture of your finances.
6. You need to divide stock options or retirement accounts: Understanding and valuing things like stock options, pensions and retirement accounts can be difficult. A forensic accountant can figure out their value and help divide them fairly.

Whether valuing complex assets, uncovering hidden income or analyzing business operations, the skills of a forensic accountant can help you address financial challenges that arise during your divorce. Forensic accounting can play a pivotal role in ensuring a fair outcome during your divorce.