The role of forensic accounting in a divorce
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The role of forensic accounting in a divorce

On Behalf of | Apr 9, 2020 | Divorce |

In a divorce, both parties are required to lay their financial cards on the table, disclosing their assets, income and all debts. This is done so that the parties and their attorneys, or the court, can work together to figure out how to divide assets and calculate things such as child support and alimony.

Financial affidavits are legally binding documents, and when they are untrue, they represent a violation of fiduciary responsibilities. But if you know your spouse isn’t being honest about their financial situation, what can you do?

You can speak with your attorney about hiring a certified divorce financial analyst to help you unearth hidden assets. Such a professional can look through your books to find things that look amiss and request other documents to be turned over.

Or, you can take things a step further and hire a forensic accountant to do a lengthy analysis to find hidden assets. Forensic accountants can do a more detailed review to search for hidden assets. They frequently have success in finding things one spouse is trying to hide from the other.

Spouses can employ a number of tactics in their attempt to hide assets or downplay their holdings when it comes time to determine a split in an equitable distribution state such as Georgia. They could give cash or a valuable piece of property the other spouse might have forgotten about to a friend or family member to hold until the divorce is final. They also could falsify some transactions or use their business to hide what they don’t want the other to see.

If you believe your spouse is hiding assets gained in your marriage, talk to your divorce attorney. You can do something about it.