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The benefits of having a forensic accountant on your side

Those considering divorce may believe that their divorce team should consist only of a lawyer, but in high-asset divorce cases, an experienced lawyer will know when to partner with professionals such as private investigators, tax experts and forensic accountants. The question you may be asking yourself is "Why would I need any of these other individuals?" The core reason for these types of professionals is simple: a complex divorce can benefit from the support of a specialized divorce team.

Let's take, for example, a forensic accountant. How can such an individual help a Florida divorcee? For one, he or she can testify in court when it comes to specific financial issues. In many cases it is much more comforting to have the expert cross-examined than the client him or herself.

Forensic accountants are experienced in finding discrepancies and hidden assets in a divorce. This can be especially important if your soon-to-be-ex owns a business. It can often be hard to determine a spouse's income in that case, especially if a lot of their business includes cash transactions.

Finally, forensic accounting and valuation of assets can often go hand-in-hand. That means this professional can help someone value assets, such as partnership interest or a closely-held business.

It may seem like an extra expense to bring in a forensic accountant, but an experienced lawyer can tell you that such an expert can be well worth the cost in the long run, especially if you are suspicious that your ex may be hiding assets.

Source: Forbes, "Why A Forensic Accountant Belongs On Your Divorce Team," Jeff Landers, Sept. 4, 2014

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