Having a qualified attorney representing your best interests throughout your divorce proceeding is the strongest guarantee of reaching a fair and equitable settlement. In high asset divorces, where one or both parties has significant wealth or complex business dealings, bringing in a financial specialist to identify and assess marital assets that are subject to division can also be invaluable.
Whether they are using the title of forensic accountant, divorce financial planner or certified divorce financial analyst, employing one of these experts can make a significant difference in the final court decisions regarding property division, child support and alimony.
Forensic divorce accountants are trained to locate and analyze a wide variety of personal and public records, including spousal depositions, bank records, tax returns and credit reports, for information about the following:
- Marital assets, including cash, bonds, jewelry, art, collectibles, real estate, investments, stock options, pensions, capital gains, insurance policies, retirement plans and property
- Income, including business interests
- Lifestyle, including evaluation of clothing, cars, associates and social habits
- Hidden assets, including travel expenses and improper conveyance of funds to other accounts or trusts
Both parties in a Florida marriage dissolution proceeding are legally required to provide a full report of all their assets and debts, but high asset marriages can involve financial complexities that neither spouse understands. A forensic accountant can identify the full scope of divisible assets and assess their actual value. Financial detective work is required in cases where a spouse deliberately attempts to misrepresent the gross value of his or her assets and holdings.
Reaching an equitable division of property in a high asset divorce settlement is a challenge. Ask an experienced Tampa Bay divorce attorney if you need a forensic accountant. Chances are that your lawyer has worked with a knowledgeable expert and can make a recommendation to match your specific needs.