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Resolving disputes creatively

Role of a forensic accountant in a high asset divorce

No matter how many assets people have, if they end up divorcing they will need to go through the process of dividing their assets. It can be much more complicated though in a high asset divorce. Not only do people in this situation have a large amount of assets, those assets can also be complicated to divide. People may own various properties, businesses, collectables, investments, stock options and other assets. Many times, it is difficult to even value these assets and people going through a high asset divorce may need to utilize a forensic accountant.

Forensic accountants can assist in a number of different aspects of a high asset divorce. They can assist in identifying the various assets people own, help determine whether the assets are marital or non-marital and value the assets. They can also help determine a person's true income by analyzing their tax returns, lifestyles, books of businesses they may own and other aspects of their lives. Also, just as important as determining how much a spouse may own or earn, is determine whether they are dissipating or hiding assets.

Many people go through divorces each year in New York and each one is different, depending on the circumstances of the marriage. One aspect that can vary greatly between marriages is their financial situations. High asset divorces tend to be more complicated and require the use of various professionals to ensure that all assets are valued correctly so that the couple can equitably divide the assets they owned during the marriage.

Source: www.apps.americanbar.org, "Forensic Accounting Overview" accessed on April 9, 2018

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