While just about anyone working his or her way through a California divorce could potentially benefit from adding a forensic accountant to his or her divorce team, high-income individuals may find it especially beneficial to do so. If you fall into this category, you may find that hiring a forensic accountant can help you work through any number of matters relating to your split. Also, hiring such a professional to work on your behalf could potentially help you wind up in a better financial position post-split.
So, just what is a forensic accountant, and how can hiring one potentially help you amid your divorce?
The role of the forensic accountant
A forensic accountant is a highly trained financial professional who can help you work through any number of different matters, from determining the value of certain assets to locating “hidden” assets that your spouse may not want you to find. Many high-income parties find that having forensic accountants on their divorce teams is particularly beneficial once those divorce cases wind up in court, and many people facing such circumstances hire these professionals to testify on their behalf.
So, what types of situations could give you a reason to hire a forensic accountant? As mentioned, a forensic accountant may come in handy if you have concerns about your former partner being truthful with you about his or her income or finances. For example, a forensic accountant may be able to dig through your ex’s financial affairs to uncover, say hidden income streams. This professional may also help you uncover offshore bank accounts or similar hidden assets.
A forensic accountant can also come in handy in situations where you or your ex have particularly complex finances or assets of undetermined value. Many of these professionals also double as valuation experts, so they can help you determine the value of important assets so you and your ex can divide them accordingly.
If you have worries about getting your fair share in your divorce, a financial accountant may help you alleviate them.