These days, many people embroiled in divorces across Virginia have complex financial situations that can make the process of property division prove difficult. For this reason, many state residents are increasingly relying on forensic accountants who can help them navigate financial matters relating to their splits. Just what role can a forensic accountant play in modern divorce, and should you consider adding one to your divorce team?
According to Forbes, forensic accountants are accounting professionals who can help you work through various financial matters surrounding your divorce so you can make sure you are getting your fair share. Often, one party in a marriage chooses to hire a forensic accountant because he or she has concerns about the other party concealing assets or income information. If you, for example, feel as if your ex makes far more money than he or she is revealing, a forensic accountant may be able to help you find out exactly how much income he or she is actually taking in.
Many people also rely on forensic accountants because they can help those going through divorces determine what might be separate or marital property. Others, yet, rely on forensic accountants because many of them double as valuation experts, meaning they may be able to help you find out the value of assets such as art, jewelry or other collectables of undetermined value.
In summary, while some people rely on forensic accountants because they do not trust that their exes, others do so simply because they have complicated financial holdings or situations that make their splits particularly complex. If a forensic accountant can help you uncover hidden revenue streams or determine the exact value of certain assets, hiring this type of professional may prove well worth the investment in the end.
This information about the forensic accountant’s role in divorce is educational in nature and does not constitute legal advice.