As you know, divorce is an extremely complicated process, regardless of the number of assets you own. However, high net worth spouses often have far more at stake when they get divorced, as they own more assets than the average couple. Furthermore, high net worth spouses often have more complex assets as well, which is why, in many cases, forensic accountants are brought into the process to help ensure assets are distributed equitably. Please continue reading and speak with our California divorce attorney to learn more about why your divorce may require a forensic accountant and how we can help fight for what is rightfully yours. Here are some of the questions you may have:
What does a forensic accountant do?
Forensic accountants often play a significant role in various divorces, regardless of whether they are high net worth divorces or not. When a couple cannot agree on the terms of their divorce, they will often enter the litigation process, wherein their assets will be subjected to equitable distribution. When this happens, a judge will decide on the terms of their divorce. During the equitable distribution process, both spouses are legally obligated to fully disclose all of their assets. Failing to do so often results in very serious legal consequences. For this very reason, if you believe your spouse is concealing assets from you, it is critical that you retain the services of a forensic accountant who can find these discrepancies and point them out to the court. Doing so may result in you achieving a favorable outcome.
How can a forensic accountant help me?
Forensic accountants serve many purposes during the divorce process. For example, a forensic accountant can valuate various marital assets, including antiques, fine art, and other assets of that nature. These accountants can also set the value to retirement plans, life insurance policies, and deferred compensation arrangements. Ensuring all of these assets are accurately appraised is a critical part of achieving a fair and just equitable distribution agreement. Forensic accountants will also analyze business records, tax returns, bank accounts, investment portfolios, and more in an effort to reveal certain unethical practices. Some of those practices include under-reporting income, fabricating debt, padding payroll, overpaying creditors, and more. The bottom line is that if you have assets on the line, you should strongly consider retaining the services of a knowledgeable Los Angeles divorce attorney and a forensic accountant to ensure assets are distributed equitably.
Contact our experienced Los Angeles firm
Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.