If you are in the process of getting a divorce, there is a good chance that you are concerned about your spouse’s financial behavior. It is not uncommon for someone to try and hide assets during divorce proceedings, which can make things very difficult for the other party involved.
Fortunately, there are ways to discover if your ex-spouse has financial secrets.
How can a forensic accountant help you during your divorce?
A forensic accountant can be invaluable during divorce proceedings. Many divorces involve complex financial issues, such as the division of assets or the determination of alimony payments. A forensic accountant can help to untangle these issues and provide clarity for both parties.
Furthermore, while it’s not pleasant to think about, it’s important to be aware of the possibility that your spouse may be hiding assets during your divorce. Unfortunately, this tactic is all too common, and it can significantly impact the division of property in your divorce settlement.
Fortunately, a forensic accountant can also investigate any suspicious financial activity that may have occurred during the marriage. They have various tools and techniques that are useful for uncovering hidden assets.
One standard method is to review financial statements and tax returns for discrepancies. For example, if a person claims to have very little income but has expensive possessions or frequently makes large cash withdrawals, that may indicate that they have secret finances.
Another technique that can be used is asset tracing, which involves following the paper trail of an asset to see who ultimately owns it. This can be helpful in cases where someone is trying to conceal their property by transferring it to another person or entity.
If you suspect your spouse is hiding assets, you will need help to uncover the truth. With proper guidance, you can ensure that you receive a fair settlement in your divorce.