As you prepare for your upcoming divorce, it’s important to keep the asset division process at the front of your head. Custody and support disputes are emotionally draining and it can be difficult to focus on anything else, but your post-divorce financial health is just as important.
If you don’t trust the ex or think he/she is willing to engage in fraudulent practices in order to get an upper hand and keep more of the cash/assets, you need to be especially vigilant. Here’s where a forensic accountant, working in tandem with a divorce attorney, can help ensure that the asset division is transparent and fair to all parties involved.
Forensic Accountants Help Uncover Hidden Assets, Fake Debt, and More
As trained professionals in all things finance, forensic accountants have the skills to detect and uncover any fake debts, underreported assets, and fraudulent practices across a variety of financial documents, contracts, portfolios, and more. In most CA divorce cases, espeically those involving high-net worth individuals, they’ll often look for things such as:
- Misrepresented or underreported income
- Excessive or outrageous purchases during the lead up to divorce
- Excessive spending relating to any extramarital activities
- Payroll fraud or falsified pay stubs
- Fake debt
- Falsified statements meant to circumvent tax payments
- Asset transfers outside the joint account to shell or hidden accounts
- Fraudulent business practices
- Deliberate overpayments to creditors
Once a forensic accountant completes their investigation and generates a detailed report, you and your family law attorney can present this information along with any corroborating evidence during asset division. This helps ensures that any of the ex’s attempts to cheat the asset division process are stopped in their tracks, no matter how elaborate or sneaky those attempts might be.
Rely on the Experience of our Legal Divorce Experts in CA
As you look toward the future, you need to account for your future financial landscape. Whether you’re in the early stages of prepping for divorce, or have a court date that is rapidly approaching, our family law attorneys are here to help plot out your next steps and ensure that your rights are protected during every step of your divorce.
Call us at R & S Law Group, LLP today to book a free initial consultation with our skilled family law attorneys. You can reach us at (949) 825-5245 to schedule a free initial consultation.