When you have a lot of assets, you have a lot to potentially lose when your marriage ends, and in many cases, the longer your marriage lasted, the more complicated your financial situation may be. Increasingly, people going through divorces who have complicated or considerable finances find that hiring forensic accountants can help them keep more of what they have worked hard to amass.
Forensic accountants, or accounting professionals who have specialized training when it comes to certain financial-related matters, may be able to help you navigate any number of different asset division-related concerns. While you may incur some preliminary costs in hiring a forensic accountant, there are many things these accounting professionals may be able to do to save you money and recoup the cost of the hire. For example, it may help you to hire a forensic accountant if you:
Suspect your ex is hiding assets
If your divorce is especially contentious, or if you otherwise worry that your ex will not reveal an accurate picture of his or her finances, a forensic accountant may be able to help you. Often, these accountants know how to uncover hidden assets or income streams so that you can get a better sense of your ex’s true income and get your fair share as a result.
Have especially convoluted assets
If you or your ex have assets held in trusts, business partnerships or something similar, getting an accurate sense of the value of these assets may prove complicated. In many cases, forensic accountants may help you get a sense of how much a retirement plan or life insurance policy is actually worth so you can divide them appropriately between you.
In summary, if your finances are especially considerable or complex, it may prove worth your while to add a forensic accountant to your legal team. Doing so may aid you in starting the next chapter in your life.