Many people preparing for divorce want to keep their costs as low as possible. They may also want to complete the divorce process as quickly as they can. Some people are in an excellent position to move forward with a fast, uncontested divorce. People who already have a prenuptial agreement have very little to negotiate as they prepare for divorce in most cases.
However, those who have not yet settled property division concerns and other financial matters should not rush through the process of reviewing the marital estate and negotiating property division terms. Otherwise, they may put themselves at a significant disadvantage. They may not receive their fair share of the marital estate, especially if their spouse tries to manipulate the process. Not only is a careful evaluation of a marital estate typically necessary, but those preparing for divorce may actually want to bring in the assistance of an outside specialist.
Why do people hire forensic accountants?
A forensic accountant is a professional who can analyze financial records to determine the origins of resources or how someone dispersed their financial assets. Forensic accountants can assist during a divorce by performing a variety of different tasks.
They can evaluate financial accounts and household records to determine what property is marital property and what may be the separate property of either spouse. They can quantify any dissipation of marital assets that occurred. Forensic accountants can help identify funds spent on extramarital affairs or establish that one spouse intentionally wasted assets or sold them for unreasonably low prices.
Finally, forensic accountants can help track down hidden assets. They can potentially locate secret bank accounts and other resources that one spouse attempted to hide from the other and the courts. Accurate financial information is crucial to a fair outcome. Those trying to divide their marital estate and negotiate terms for financial support need to have a thorough understanding of their financial circumstances.
The money spent on a forensic accountant services can be a wise investment, especially for those in a high-asset marriage where one spouse might attempt to manipulate the outcome of property division or support proceedings. Having the right assistance while preparing for divorce can help people establish a better foundation for rebuilding their lives afterward.