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What Is The Role Of A Forensic Accountant In A Divorce?

Many types of professionals can help out during the divorce process and ensure that both spouses get fair treatment. One professional who can be especially helpful is a forensic accountant. Even if you do not think that you have enough assets to need an accountant, hiring one might still be a good idea. Our Morris County, NJ divorce lawyers can tell you more about how you can benefit from their services.

What Can a Forensic Accountant Do?

When forensic accountants work on a divorce, they have a few primary goals in mind. They are there to:

Help value assets: They can find the most accurate way to value assets like businesses or real estate. If you or your spouse run your own company or share a business, having the assistance of a forensic accountant is practically a necessity.

Ensure full financial disclosures: If you are going to divide your assets in a divorce, you want to be sure that each person is being completely accurate about their financial situation. A forensic accountant can review financial paperwork like tax returns and bank statements to make sure that one spouse is not trying to hide or squander any assets before they can be properly dealt with during the divorce process.

Establish separate property: This professional can also help you verify your claims when you say that a particular property is not marital property.

Do I Really Need a Forensic Accountant?

You do not need to be super wealthy to benefit from hiring a forensic accountant. This professional can help you make sure that the playing field is fair and that no one is hiding assets, regardless of your level of wealth. They can also help you with disputes, like how much an investment should be valued at. Do not just assume that your spouse is being upfront and that you have all of the financial knowledge needed to move forward with a divorce.

Can an Accountant Help During Mediation and Arbitration?

It’s also important to note that a forensic accountant doesn’t just help during litigation. You can also bring them in to assist you if you have chosen an alternative method of dispute resolution, like mediation or arbitration. They can even help during a collaborative divorce.

No matter how you decide to pursue a divorce, the information offered by a forensic accountant is likely to prove useful. It’s wise to consider using one even if you think that your divorce is going to be a simple one.

Contact Our Law Firm

Divorcing your spouse can be complex and difficult, so make sure that you have someone on your side who’s ready to fight for you. Contact Townsend, Tomaio & Newmark to schedule a consultation with our team and learn more about what our lawyers can do for you.

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