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Role of forensic accountants in high-asset divorces

Role of forensic accountants in high-asset divorces

On Behalf of | May 16, 2024 | High-Asset Divorce |

Forensic accountants unravel financial intricacies and ensure fair outcomes in high-asset divorces.

Their expertise is invaluable in the resolution of these challenging cases.

Uncovering hidden assets

Of the 989,518 divorces in 2022, those with significant assets tend to be especially complicated. Forensic accountants uncover hidden assets in high-asset divorces. They meticulously examine financial records, bank statements and other documents. They trace funds, investments and properties that one or both parties may not hidden or failed to disclose.

Evaluating income and expenses

Forensic accountants evaluate the income and expenses of both spouses. They analyze tax returns, business records and other financial documents. These professionals use this information to determine the true financial picture of the divorcing couple. This evaluation helps the court make informed decisions regarding spousal support, child support and asset division.

Valuing businesses and investments

The parties in many high-asset divorces have marital assets that include businesses and investments. Forensic accountants evaluate these assets accurately. They use an income, market and asset-based approach to determine the fair market value of businesses, stocks, real estate and other investments.

Providing expert testimony

Forensic accountants may provide expert testimony in court proceedings. These professionals use a comprehensive understanding of financial matters. They also use their abilities to present complex information. These individuals have clear, concise communication capabilities. Their testimonies often influence court decisions.

Assisting in settlement negotiations

These accountants often assist in settlement negotiations. They provide valuable insights into the financial implications of various settlement options.

Forensic accountants help the court and both parties in high-asset divorces make informed decisions about their asset division.