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The role of a forensic accountant in a divorce

For many divorcing couples in New Jersey, dividing assets from the marriage is a fairly easy process. However, if you have complex assets, it may be difficult to accurately identify the assets during the discovery phase of the divorce. This is true even if the divorce is amicable and both parties fully cooperate. If this is the case, identifying and valuing these complex marital assets may be best accomplished by hiring a forensic accountant-someone trained in performing precisely this task.

Forensic accountants may be needed to ensure that assets such as antiques, artwork, real estate or other tangible items are divided equitably. Although you may have had these items appraised recently, their value may change significantly over time and need to be valued again. Forensic accountants are adept in determining accurate values of this type of property.

Forensic accounts may be needed in cases where it is difficult to accurately calculate income. This is especially the case if you or your spouse receive a significant amount of income from bonds, stocks, retirement accounts, trusts, insurance, property held outside the state (or country), or the ownership of a business.

Property division in a divorce with complex assets can be a difficult process, even when everything is openly disclosed. However, in cases where parties try to hide assets or commit fraud, this difficulty multiplies significantly. Fortunately, forensic accountants are experts at uncovering fake debts, underreported income and other methods of hiding assets.

To ensure that your interests are protected during your divorce, it is vital to engage the services of a family law attorney. The attorneys at LaRocca Hornik Rosen Greenberg & Patti LLC are experienced with dealing with complex asset cases and can work with financial experts to ensure that you receive the fair share of the marital assets you are entitled to by law.

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