The Role of Forensic Accountants In High-Asset Divorces

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Although opting for an experienced divorce lawyer might make it much simpler than you think, getting a divorce is never easy. However, the process can be significantly harder than usual if you have significant assets.

Are you getting ready for a costly divorce? If so, choosing a Boston high asset divorce lawyer with connections to an extensive list of experts who will be essential to split your assets between you and your spouse is essential. A forensic accountant is one example of such an expert. This overview will describe what a forensic accounting specialist is and how their expertise could be helpful during your divorce.

The role of forensic accountants in high-asset divorces

A forensic accountant can be helpful in several ways during a high-asset divorce:

  • Creating an asset inventory and valuing it

Before settling your divorce, you must ensure that all of your and your spouse’s assets have been adequately recognized and evaluated so that they may be equally divided. It may be hard to identify and assess your assets if you have many, some of which may be extremely valuable. A qualified forensic accountant can help you and your lawyer with this task.

  • Looking For Hidden Assets

Do you have any reason to think your spouse is attempting to conceal assets from you so they may avoid splitting them fairly? If that is the case, there is even more reason to engage with a lawyer who, when needed, collaborates with forensic accountants. A search by a forensic accountant could uncover any assets your spouse is trying to hide.

  • Evaluating lifestyle–The standard of living

Alimony may be granted to one spouse after a divorce involving two couples. The lifestyle in which the partner receiving alimony has become accustomed may impact the amount they must pay. Calculating a person’s daily lifestyle’s “dollar value” can be tricky. A forensic accountant may be especially suitable for this challenging task.

  • Determine the business value.

Do you and your spouse together own a business? Or do both of you own a significant amount of a business? If so, a company worth may be required while obtaining a divorce. A forensic accountant may help by examining financial accounts, considering the company’s overall position in the market, and making clever predictions about the business’s potential for development.

Be aware that these are typical situations in which a forensic accountant can be involved in a divorce. Depending on the details of your case, a forensic accountant may give you various services.