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How can a forensic accountant help you in a divorce?

It's no big secret; dividing assets in a divorce, even in a relatively amicable one, is difficult. Except in rare cases, it's not as simple as dividing the bank account and bills in half and deciding who gets the couch. There are stocks, business assets, retirement accounts, inheritances, properties and pensions to take into consideration, not to mention the myriad tax implications that these complex property divisions create.

On top of this, ex-husbands and ex-wives have been known to stall, use evasive tactics and even lie to protect and hide assets from one another. Forensic accountants are trained to sniff out subterfuge and root out common scams like payroll padding, creating bogus debt, moving assets to fake companies, buying big ticket items using secret cash and overpaying creditors.

With this in mind, it's important to understand how a forensic accountant would use his or her expertise to your advantage throughout a divorce. First, a forensic accountant would work to suss out the soon-to-be-ex's true income. Then he or she would go through the painstaking process of determining what qualifies as marital property or separate property. Finally, a forensic accountant would use his or her training to assign value to everything being divided, giving both sides a clear picture of the wealth being split and ferreting out any over- or under-valuations.

Rather than have bitter squabbles about the division of property and wealth, it may be a wise decision to use an experienced adviser who can put these matters to rest authoritatively.

Source: forbes.com, "Why A Forensic Accountant Belongs On Your Divorce Team," Jeff Landers, Sept. 4, 2014

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Victoria S. Linder Law Office
5303 Folsom Boulevard
Sacramento, CA 95819

Phone: 916-905-4805
Fax: 916-498-0127
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