Hidden assets and the use of forensic accountants

| Jan 15, 2021 | Property And Asset Division

There’s no doubt that divorce can be messy. This can be true under any circumstances, but it can be especially true when there are a number of assets involved. The parties often find themselves fighting as they try to position themselves as strongly as possible for life post-divorce, which can lead to aggressive negotiations and litigation. But while you’re in the mix of arguing over which marital assets you should receive as part of your marriage dissolution, you shouldn’t overlook another major aspect of your case: the potential for hidden assets.

Don’t miss out on hidden assets

We see it all the time. One party to a marriage tries to secure their future by stashing assets in a foreign account or retitling property into another’s name. They may even withdraw cash from joint accounts to stowaway for personal use at a later day. In most instances, these assets should be included in the marital estate and subjected to equitable distribution. So by not spotting these hidden assets, you could be losing out on significant assets that might set you on better financial footing post-divorce.

Can a forensic accountant help?

Finding hidden assets is no easy task, but it’s certainly not impossible. You simply have to know where to look. That task falls beyond the knowledge of most lay people, which is why many individuals who find themselves in this situation choose to turn to forensic accountants for help. These financial experts know how to spot red flags and follow paper trails that lead to hidden assets. But their tactics aren’t just useful in finding missing assets; they’re also helpful in court when you want to show that your spouse is acting deceitfully.

Addressing your complete financial picture

High-asset divorces can be enormously complex, but you don’t have to try to navigate the process on your own. Instead, you can be confident in your ability to obtain the financial resources you deserve by working closely with an experienced family law attorney.