Divorces are never easy. This is especially true if there are huge sums of money involved. But, what can you do if you suspect your ex is attempting to hide assets from the court in an attempt to keep them safe from division? Or, what if you want to understand what will be a fair settlement, or what a fair alimony agreement would be? In these instances, a specialized financial professional known as a forensic accountant may be called in to investigate and report on all financial concerns. But what are they? If you are wondering “should I hire a forensic accountant?”, read on.
What Is a Forensic Accountant?
A forensic accountant lives at the crossroads between finance and law. Put simply, a forensic accountant is a professional who utilizes their training and experience to analyze and investigate financial accounts in order to determine the reality of a financial situation. Ultimately, their analysis is relied upon as a basis for mediation, or as evidence in a court of law. Forensic accountants are frequently used in divorces, as well as by insurers or creditors, to determine the precise state of an individual or company’s finances.
Why Should You Hire a Forensic Accountant?
Forensic accountants are useful for a variety of reasons. As financial holdings and investments may often be complex in nature, an experienced forensic accountant can help use their expertise to peel back the complex layers of financial information to determine the true extent of a spouse’s assets and creditors. Forensic accountants can even develop specialized computer applications, which can sift through dense volumes of data and uncover even the most minute traces of financial transactions or dealings.
These financial professionals can be extremely useful during divorces – especially those involving high net-worth individuals. A forensic accountant can help a spouse:
- Look for concealed or hidden assets.
- Evaluate financial inconsistencies or irregularities.
- Account for any valuables, such as art, antiques, collectibles, jewelry, or precious metals.
- Appraise all assets and property holdings.
A forensic accountant can also help determine a spouse’s personal expense, which can prove helpful when it comes to reaching an agreement on any alimony or support payments. In addition, they can provide the family law court with a detailed analysis of the long-term implications of any divorce settlement and make recommendations on the best financial outcomes for both parties.
Contact an Experienced New York Divorce Attorney Today
If you are going through a contested divorce and have serious concerns about financial matters. You should speak with an experienced New York divorce attorney right away. A knowledgeable attorney can help you understand your options and determine if a forensic accountant is right for your situation.
While filing for divorce can be a difficult decision to make, selecting the right attorney doesn’t have to be. Brian D. Perskin & Associates P.C. is one of the most trusted names in New York when it comes to divorce litigation. Brian and his team are aggressive, experienced, intelligent, strategic and most importantly, compassionate. They work diligently with clients and customize representation strategies to fit their individual needs. So, if you’re looking for a divorce attorney who will fight for you, call Brian D. Perskin & Associates P.C. today at 718-875-7584 for your free consultation and learn why we’re New York’s premier divorce law firm.