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Hiring A Forensic Accountant In A Divorce Will Pay For Itself – 31 May 2013

Member: Nifa

Considering that divorce is up there with bereavement and moving home as one of the most traumatic things a person can expect to endure in his or her lifetime, not to mention an expensive exercise, it is no wonder that people wonder whether employing a forensic accountant is worth the money, but in almost every instance where people have, they have been delighted with the result.

Even when a divorce is amicable, as in the recent dissolution of the marriage of Courtney Cox and David Arquette, whenever there are assets, such as a business or property, it is worth employing a forensic accountant to ensure that relations stay that way in the future.

Unlike a straightforward valuation, an investigation by a forensic accountant will weigh up the future value of the assets and how they might impact on a divorce settlement that is fair to their client. Also, if one spouse owns a business and doesn’t want to sell it because of the split, a forensic accountant who is expert in business accounts may be able to suggest ways of restructuring it so that the divorce can be funded and so that the business can carry on running in the future.

Meanwhile if the parties in the divorce are not happy with one another, the party who feels at a disadvantage – that is generally the one not running the business – would be advised to hire a forensic accountant to untangle the business assets so that he or she gets their fair share.

Being accountants as well as investigators, the forensic accountant can advise on tax implications for the present and future, which should be of some comfort, as the injured party is unlikely to trust anyone he or she thinks is working for ‘the other side’.

Author: Roger Isaacs, 31 May 2013

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