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Why use a forensic accountant?

If you're ready to file for a divorce, you already likely know that you need to present evidence of all your assets and the assets your spouse owns to the court and your attorney. When you have a full list of your assets, you're better able to negotiate and divide your assets.

One problem some people run into is that they aren't sure of where all their assets are or that the other spouse is being honest about their assets. A forensic accountant can help you be sure that you have all the assets available written down and disclosed for the divorce.

One of the hardest things to do in a divorce is to find out a spouse's actual income and to get accurate information on all the spouse's property. The accountant can review paperwork and locate assets quickly, also identifying any unusual issues in tax documents or files that are presented. If asked to testify, the accountant already works with the books and asset declarations, so he or she can testify with full knowledge of the case.

A forensic accountant is trained to look at personal and business records to identify what's missing. For instance, if a tax return shows that profits have dropped despite the fact that revenues have increased, that could be a red flag that some money has gone missing or been spent. If a reason is given for the discrepancy, the accountant can also identify whether or not the explanation makes sense and is credible. Your accountant can work with your Fort Lauderdale attorney to help you make a solid case in court for property division concerns.

Source: Forbes, "Why A Forensic Accountant Belongs On Your Divorce Team," Jeff Landers, accessed Sep. 21, 2016

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