In high asset divorce, property division is a serious matter. According to California law, your marital property must divide equally between you and your spouse. However, your spouse may try to hide assets from you.
To prevent losing out on what is legally yours, you hire a forensic accountant. See below to learn the benefits of hiring this professional service.
Level the playing field
Marriages often have one spouse who handles all the financial aspects. In a divorce, this may give them an advantage during the settlement. A forensic accountant helps to keep the knowledge of assets and liabilities transparent, providing a more fair result in the division process.
Part of this transparency is the discovery process. Forensic accountants can work with your attorney to legally acquire the necessary information on your spouse’s assets. Once this happens, the forensic attorney knows how to evaluate and quantify the various properties and assets they find.
If your spouse attempts to hide their property, your forensic attorney knows how to identify discrepancies in your spouse’s tax returns and spending habits. When they find issues with your spouse’s accounts, they also can testify in court on your behalf.
Not everyone needs a forensic accountant. However, if your spouse keeps their financial records a secret, you might want to consider it as an option. Even if you trust your spouse, sometimes in high asset divorce, things get lost by mistake. A forensic attorney will help guarantee the most accurate account of your finances and ensure you receive what legally belongs to you in your divorce.