When Facing Tough Times

The role of a forensic accountant in divorce proceedings

On Behalf of | Aug 24, 2023 | Family Law |

A Missouri divorce may prove challenging and complex, involving the separation of assets and financial arrangements. A forensic accountant can play an integral role in helping you navigate the financial aspects of divorce while advocating for your interests each step of the way.

While specific strengths may vary from one forensic accountant to the next, you may find that this type of professional helps you do the following.

Uncover hidden assets

Hidden assets refer to property, income or funds that your spouse might try to conceal from you during divorce proceedings. Forensic accountants employ investigative skills to trace financial records, scrutinize transactions and expose any attempts at asset concealment. Some forensic accountants are also certified public accountants, making them uniquely qualified to help you not only uncover hidden assets but also navigate divorce-related tax issues.

Determine the value of assets

Forensic accountants may also help you assess the value of certain assets, such as real estate, investments or business interests, by examining financial statements, market trends and other relevant factors.

Analyze income and expenses

Developing an understanding of the financial circumstances of both spouses is vital for determining support obligations. Forensic accountants often analyze income and expenses, including sources of income, tax returns and financial statements, to figure out how much to ask for in spousal maintenance.

Testify in court

You may need your forensic accountant to present his or her findings in court as a witness. The impartial expertise of these financial professionals adds credibility to the proceedings and aids in achieving a just outcome.

By shedding light on the intricate financial aspects of a divorce, forensic accountants help facilitate a smoother and more transparent process for everyone involved.