Forensics accountants are often brought in during divorce proceedings in Ohio because they can provide a detailed analysis of financial records, consequently helping with the division of assets. Depending on the circumstances of your marriage or divorce, a forensic accountant may or may not be helpful in your situation.
Understanding what forensic accountants do
A forensic accountant is a certified public accountant (CPA) who has specialized in the investigation of financial crimes. Forensic accountants use their skills to detect and investigate crimes like embezzlement, money laundering, tax evasion and other financial frauds. They are often hired by law enforcement agencies, but private individuals or companies can also use their services.
Forensic accountant’s role in a divorce
Divorce is probably one of the biggest financial transactions that one can ever go through. A forensic accountant can unearth any hidden assets or income; assess joint fund spending during your marriage and divorce process; and appraise assets, business, and other properties. They can also assist in determining child and spousal support payments.
In addition, forensic accountants can provide interpret the information that they uncover. They can show the judge how one partner suffered damages in the marriage as a result of financial issues brought upon by the other.
When a forensic accountant could help
If you have a feeling that your spouse is not being truthful about their assets or income, if there’s been a significant change in your spouse’s financial situation during your marriage, or if you or your spouse owns a business, you may want to consider discussing your situation with a forensic accountant. Especially if you haven’t had much involvement in your combined finances during the marriage, it might be a good idea to consult with a forensic accountant during the divorce because they may have some insight that could help you plan a strategy.
Ohio laws are very clear regarding the equitable division of assets in a divorce, and consulting with a financial professional may be able to help you sort out difficult financial issues.