Divorce
Article by Divorce Ammo
Sometimes during the divorce process a spouse can take on immoral practices (e.g., hiding money from their partner). This can be done for a number of reasons, whether the spouse is trying to guard his own money, or simply trying to make sure his partner suffers financial loss as some form or humiliation. Whatever the reason, sometimes a spouse has to take it into their own hands to ensure they are getting everything they are entitled to.
This is where forensic accounting comes in. A forensic accountant can look into financial practices of your soon to be ex-spouse and see how much money he makes and how much money he spends (or at least claims to spend) and sees if it all adds up with the share you are being given. Essentially, a forensic accountant can work together with your attorney to make sure you are not being cheated out of your fair share of money.
Should I Consult an Attorney before Hiring a Forensic Accountant?
It would definitely be a good idea to consult a divorce attorney before hiring a forensic accountant. The accountant normally does not work by himself, but usually works with your attorney as a team, so that they can coordinate what they are looking for and interpret what they have found. Remember, your attorney will make sure that your interests are always represented during the divorce process, especially if the matter goes to court.
A survey by British online bank Cahoot.com found that about 75% of women admitted to hiding money, compared with 53% of men. It’s about the fact that both genders hide money from their mates, and how you can tell, and when you should care, if it happens to be your partner. You may have difficulty finding items or getting the proof you need to show your spouse is hiding assets. A Forensic Accountant can help.
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