Divorce can be stressful, particularly when you and your ex-spouse must figure out complex financial matters. To ensure that your divorce is as smooth as possible, you may want to hire a forensic accountant as well as a family law attorney to help you locate hidden assets. If you’re a Florida resident, here are some things to keep in mind during the divorce process.
The purpose of a forensic accountant
Hiring a forensic account during a divorce helps reveal relevant information that can facilitate and expedite the proceedings. A forensic account can ensure that you and your spouse are financially transparent during the divorce, which will make property division easier. The accountant can also provide income and asset valuations to help you accurately calculate alimony and child support payments.
How forensic accountants do their job
Forensic accounting involves investigative abilities since the accountant will have to take a detailed look at your personal and business finances. Forensic accountants use applications and software to see if your spouse is hiding money or property so that the property division process will be as fair as possible.
Money is often a point of contention in a divorce, so using a forensic account will provide evidence of hidden assets, if applicable, which can help your case in divorce court. Your divorce lawyer may also recommend that you use a forensic accountant to find and assess all joint assets and liabilities, so you’ll know how much you owe and how much you’re entitled to.
Speak with a professional family law attorney if you are preparing for a divorce and considering enlisting the services of a forensic accountant. This professional can expedite the process, especially when it comes to property division.