In many divorce proceedings, the trust between both parties is often broken or on very shaky ground at best. If your ex was dishonest about his/her actions, desires, plans, and more, there’s a good chance that the ex is also willing to lie about finances.
Now that the divorce is underway, it’s important to remain extra vigilant during the asset division process. If you suspect the ex has a hidden stash or has taken steps to deliberately cover assets, you can’t afford to take half-measures. In these cases it is pivotal that you consult with an experienced divorce attorney who can guide you on how to best deal with the situation. In cases where complex assets may be involved or the ex was especially craft in hiding said assets, it might be worth recruiting the help of a forensic accountant.
False Debts and Hidden or Underreported Assets
Forensic accountants work hand in hand with family law attorneys to ensure that your rights are preserved and you’re given everything you are entitled to. While you may be hesitant to hire another professional to help with your divorce, a forensic accountant can quickly pay for themselves. As financial experts, they are experienced in sleuthing out hidden assets and finances such as:
- Underreported income
- Any fraud involving payroll or payroll documentation
- Deliberate attempts to avoid tax payments
- False or manufactured debt
- Asset transfers to shell or dummy business entities
- Overpayments to creditors that the ex hopes to collect after the divorce
- Expensive or outrageous purchases
- Excessive spending tied to activities involving an extramarital affair
Especially when it comes to high income divorces, we’ve been stunned at the effort and elaborate work that individuals can put into hiding assets or getting an “advantage” during asset division. With a family law attorney and a forensic accountant working on your behalf however, the ex’s chances at getting away with fraud or bad faith actions during asset divisions are slim to none.
Count on Legal and Financial Professionals To Help Uncover Deceit
Prepare for your life after divorce and start on the right foot with the help of our skilled family law attorneys. At the Law Offices of James P. White, we take time to learn about your case and help you map out effective strategies, whether this involves reaching out to a forensic accountant or simply using existing documentation to counter any of the ex’s claims.
Each and every case is unique however, and our family law attorneys are here to help guide you through your particular legal needs. Give us a call at 925-271-0999 today to schedule a free initial consultation!