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Do you need a forensic accountant on your divorce team?

On Behalf of | Feb 12, 2019 | Property Division

Anyone in Wisconsin who has ever gone through a divorce can probably attest that it can be a highly emotional, heart-wrenching process. However, once you take your emotions out of the equation, divorce is really about dividing your assets and debts so you can start rebuilding your life on your own. Increasingly, one or both parties in a divorcing couple are adding forensic accountants to their divorce teams to make sure they are well-positioned for a fresh financial start.

Just how might having a forensic accountant on your divorce team work to your advantage? For starters, Forbes reports that this type of financial professional can help make sure that both parties involved in the divorce are being truthful about their income and assets. You may not realize how little you truly know about your former partner’s earnings until you decide to divorce this person, but a forensic accountant can work to see that you do, in fact, end up with your rightful share.

Even if you have little doubt that your one-time partner is telling the truth about his or her income and finances, you may find that a forensic accountant can help you appraise certain assets so you can divide their value between you. Complicated stocks or business and real estate holdings in other states or countries, for example, can sometimes prove difficult to divide without the help of these professionals. Finally, a forensic accountant may be able to help you make other decisions and valuations relating to what is marital or separate property, potentially streamlining the process of asset division while improving your peace of mind after it.

This information about how forensic accountants can come into play in divorce cases is meant for educational purposes, only, and is not a replacement for legal advice.