Going through a divorce can be stressful and emotional. For many couples, it can be a long process with many hoops to jump through, which includes the mandatory disclosure of both parties’ finances.
Sometimes, divorce can bring out some of the worst in both you and your ex. In an effort to get the better end of the deal, some spouses will hide assets or income. Here are some of the signs that you should consider including a forensic accountant on your divorce team.
Response to the Process
During a divorce, your intuition can play a valuable role. After spending time with your ex, you likely know some of the indications that there is suspicious behavior.
A spouse with assets or income to hide may get defensive about questions about the details of their accounts, or they may act nonchalantly since they feel their hidden assets will sustain them regardless of what the court decides for the divorce. Or they may be elusive and secretive.
A forensic accountant will know the clues that indicate that a spouse has hidden income or assets and can get access to the information that confirms additional assets. The forensic accountant’s job is to trace funds to the current source.
Inconsistencies
When you are in a hurry to finalize the divorce, it can be easier for your ex’s inconsistent paperwork to go unnoticed or feel there is not enough time to thoroughly review them with a forensic accountant. But, it is important to take the time and hire the appropriate expert when the net benefit is apparent.
Talking to a forensic accountant can help you examine potential issues and discover hidden assets quickly and efficiently.
A Forensic Accountant Adds Credibility
While you may discover clues that your ex has undisclosed assets, you may not be able to present the evidence in a way that persuades the court. A forensic accountant can support your case by assisting your attorney and presenting their findings in court or during a deposition.
Not all cases require the support of a forensic accountant, but they can be helpful when you suspect that your ex has undisclosed income or assets. Speak with an experienced Denver divorce attorney if you want to learn more about how a forensic account can help your case.