Financial matters are one of the most crucial parts of a divorce, along with child custody matters. Alimony, property division, and child support are usually always present during divorces in some combination, and it can be difficult to navigate these very important issues. If you work with a forensic accountant, you can be sure that your marital assets will be divided fairly. Here’s how to know if it’s worth the extra cost.
Divorce & Forensic Accountants 101
A forensic accountant is an individual who examines the financial data of a business or person and analyzes the transactions, summarizing them in a manner that is suitable to be used as evidence in a New Jersey courtroom.
How Can You Tell If You Need to Hire One?
Forensic accountants are often hired by one spouse or the other in a high net worth divorce. However, anyone dissolving their marriage can work with a forensic accountant. If, for example, you suspect that your soon-to-be-ex-spouse is hiding money or other assets from you and not making a full financial disclosure, a forensic accountant can help uncover the evidence. Discuss with your divorce lawyer if hiring a forensic accountant is a smart move in your particular case.
What Can Happen If You Don’t Work with a Forensic Accountant
It’s not always necessary to hire a forensic accountant. If your divorce is uncontested or you and your spouse don’t share a lot of assets, deciding not to hire one may not affect you very much. Consider the chances that your spouse would have the ability and motivation to hide assets from you — if it’s low, you may be better off avoiding the expense of a forensic accountant.
If you and your spouse share a number of assets though or you are going through a high net worth divorce, hiring a forensic accountant becomes much more important. If you don’t work with one, you may not uncover assets your spouse has concealed from you, leaving your spouse much better off than you financially after the divorce is final.
Why You Need a Divorce Attorney Too
You don’t just need a forensic accountant — you need an experienced divorce lawyer on your side too. Your attorney can help you find a skilled forensic accountant that you can trust and will work hard to see to it that your financial future of you and your family is protected when your divorce is finalized. Contact Carvajal Family Law for help with your divorce today.