For many, going through a divorce can be an incredibly draining process emotionally, financially, and legally. It’s imperative to understand that if you are going through what is considered a high net worth divorce, these matters can become even more complicated to navigate. As such, you may want to consider working with a forensic accountant to assist you during these matters. If you’re unsure how they can help or if you need a Somerset County high net worth divorce attorney to help guide you through this process, you’ll want to keep reading. The following blog explores what you should know about these difficult matters.
What Does a Forensic Accountant Do During a Divorce?
If you are going through a divorce that is classified as high net worth, understanding the complexities that can accompany it is critical. Generally, assets involved in these kinds of divorces tend to be much more complicated as they may be harder to value. Additionally, when there is a considerable amount of property that must be handled, assets may be unaccounted for.
A forensic accountant can examine all documents exchanged during the discovery process to look for discrepancies or suspicious activity. If this is the case, they can investigate further to determine if things are amiss. This analysis can help determine if one spouse is attempting to hide assets to prevent them from being distributed during the divorce. For example, they may attempt to conceal a second, unreported income, or they may have transferred a valuable asset to a family member shortly before filing for divorce. Discovering these assets is critical to ensure you can recover the funds you are entitled to during your divorce.
In addition, a forensic accountant can help trace the path of assets to determine who is the rightful owner. If you and your spouse disagree on whether a particular asset should be considered separate or marital, working with a forensic accountant can help you make the correct determination. This is also the case if you believe your spouse has committed marital waste by spending assets to deplete the assets you would be entitled to.
If I Work With One Do I Still Need an Attorney?
While the work a forensic accountant does can be invaluable, it’s important to understand that working with one of these professionals does not mean you should forego hiring legal representation. While the accountant can help with issues related to property division and alimony, they cannot provide legal guidance or advice. As such, they cannot help you navigate the divorce process or represent you in court.
Working with an experienced attorney from the Siragusa Law Firm is in your best interest for a number of reasons. Not only can we assist you in receiving the assets you deserve as part of your divorce settlement, but we can help guide you through the process of filing for divorce. Our team understands how complicated these matters can be, which is why our team is dedicated to providing you with the best possible representation. We will focus on the legal complexities so you can begin preparing for the next chapter of your life. Contact us today to learn more.
