What can a forensic accountant do for you?

What can a forensic accountant do for you?

The end of your marriage in Illinois is more than the end of a relationship; it is the end of your contract with your spouse. Before it can be dissolved, the two of you will have to come up with a new agreement that you can both live with, but if your marital assets are extensive, this can get tricky. According to Forbes magazine, your best step toward a solution may be to hire a forensic accountant.

Whether or not you are afraid your spouse may try to hide accounts, assets or income, identifying everything that should be on the official financial statement can be a challenge. If there is a chance that he or she will not willingly supply information, a forensic accountant has the expertise necessary to uncover matters hidden within business records, past years’ tax returns and incomplete inventories, as well as other sources.

Determining the value of a business or private practice is also not a job for the lay person. You may be able to find a forensic accountant who has the knowledge and skill to do this for you along with the other financial tasks related to finding the sum of your marital property.

If you are facing litigation to resolve your financial disputes, having a financial accountant on your side as an expert witness may be the tipping point the judge needs to award you your fair share of the assets. This may be particularly important when it comes to proof of fraud. While this information about forensic accounting may be helpful to you in considering who you want on your divorce team, it should not be interpreted as legal advice.

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