When going through a divorce, one of the most contentious issues for many couples revolves around dividing their assets evenly. Unfortunately, given the financial repercussions of this matter, it can have lasting impacts on the outcome of your divorce. As such, it’s in your best interest to do everything possible to receive a fair outcome, which may include working with forensic accountants to uncover financial information for certain circumstances. They will work with your Los Angeles high net worth divorce attorneys to help ensure you receive the best possible outcome. Keep reading to learn more about when you can benefit from working with a forensic accountant.
What Do Forensic Accountants Do?
Forensic accountants will analyze, investigate, and audit the financials of a couple during a divorce to serve as an expert witness. Generally, they will work to help determine the value of complex assets, analyze financial records for fraud or discrepancies, and trace hidden assets. Additionally, they can help divide your marital and separate property to make the division of assets easier.
When Should I Consider Investing In One?
Generally, if you are in a high net worth divorce, own a business, or have complex assets, it’s likely in your best interest to invest in a forensic accountant. This can help ensure you receive the fairest settlement possible.
Unfortunately, your spouse may hide assets in an attempt to receive a more significant amount of assets. If you have suspicions that this is occurring, a forensic accountant can be beneficial as they will use their specialized skills to investigate your spouse to ensure that they have not underreported their income, hid assets, or committed any sort of fraud that can influence the outcome of your divorce.
Additionally, if you have several complex assets, a financial accountant can work to offer accurate appraisals to determine the value of these assets. This can help ensure your property is divided evenly between you and your spouse while estimating what your financial circumstances will look like following the divorce.
If I Work With an Accountant, Do I Still Need a Lawyer?
Though working with a forensic accountant can help, it does not supersede the need for an experienced high net worth divorce attorney. An attorney can help you through the process of filing for divorce, which can be incredibly complex, especially when complicated assets are involved. Additionally, when the forensic accountant determines the value of your assets, they will share the information with your attorney to negotiate for the best possible outcome during these matters.
When divorcing your spouse, understanding the importance of working with professionals is critical. Just as you wouldn’t try to perform surgery on your own, you shouldn’t try to go through this process by yourself. That’s why connecting with the Zitser Family Law Group, APC, is imperative. We understand how complicated these matters can be, which is why we will do everything in our power to make this as simple as possible for you. Contact us today to learn more about how we can assist you.
