Could a Forensic Accountant Help in Your Divorce?

A trend among those seeking a divorce in America is hiring advisors such as forensic accountants. A divorce can cost a lot of money, as you probably know at this point. Every time you add a professional to your divorce team, your costs will increase.

It is best to consider whether such experts, including forensic accountants, bring actual value to your circumstances. You can determine this by learning what these accountants do and looking at your situation objectively, as not every divorce needs these services.

What do forensic accountants offer?

Money and math are two factors that can complicate a divorce. An accountant specializing in financial investigations helps you uncover money matters that could harm your divorce. They also take care of the math for you so you can focus on the divorce.

Other services a forensic accountant can provide include the following:

• Locate hidden assets for full financial disclosure
• Determine the value of businesses and complex assets
• Identify possible tax implications of property settlements

Your forensic accountant can also be an expert witness in court proceedings, if required.

What situations benefit from forensic accounting?

Now that you understand more about investigative divorce accounting, how do you know if your need a professional? Circumstances like those listed below often benefit from a forensic accountant.

• You have complex assets to divide.
• Your marital assets are quite valuable.
• You share a business with your spouse.
• You had considerable assets before marriage.
• You and your spouse cannot agree on property division matters.

It’s wise to ask your legal counsel if you need to add an outside accountant to your divorce team. Learning more about property division in South Carolina can also help you improve your divorce settlement.