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When might a forensic accountant help in a divorce?

On Behalf of | Jan 14, 2019 | High Asset Divorce

When you make your way through a Texas divorce, chances are, you want to do everything you can to make sure you wind up with your fair share in the split. Regrettably, however, some spouses will do everything in their power to shield assets from their former partners, and others simply have no idea how to assess the value of certain assets. For these reasons, many Texas residents involved in divorces are turning to forensic accountants for help.

Forensic accountants, according to Forbes, are financial professionals who may be able to help divorcing parties work through a wide range of finance and asset division-related issues. Often, people elect to add forensic accountants to their divorce teams when they fear their one-time partner is being dishonest with them about certain assets, or the value of certain assets.

So, how might a forensic accountant be able to help? For starters, forensic accountants are often able to delve deep into a divorcing couple’s finances to make sure there are not any hidden income streams, bank accounts or what have you. Even if the relationship between you and your soon-to-be-former spouse is relatively amicable, there are still some circumstances under which you may want to hire a forensic accountant. You may choose to do so, for example, if one of you has an especially convoluted financial portfolio that might include stocks, retirement accounts or other assets that can be tricky to divide.

If your spouse owns his or her own business, this may be another reason to add a forensic accountant to your team during your divorce. This may hold particularly true if you think there is a valid chance your spouse is attempting to conceal assets from you. If so, he or she may be using the business to do so, but a forensic accountant may be able to uncover evidence of such wrongdoing.

This information about forensic accountants and divorce is educational in nature and does not constitute legal advice.