Forensic accountants play a crucial role in high-value divorce cases by locating and classifying assets, showing how the spouses earned them, and finding those that they may have concealed. Connecticut is an equitable distribution state, which makes forensic accounting crucial when there are transparency concerns surrounding high-value assets. Your financial future can depend on fair and accurate identification of assets and liabilities in your divorce case.
An experienced high-asset divorce attorney understands the role of forensic accounting in Hartford high-asset divorce cases and how to harness these resources to protect your financial security. Dolan Divorce Lawyers can help you learn more about how forensic accounting works.
Connecticut law requires equitable distribution of marital property during and after the divorce process. Marital property, in general, is property acquired by either spouse before marriage and while married, as separate property is often intermingled with marital property and only a marital contract can deem it truly separate. The lines between marital and non-marital property can get especially blurry in high-asset cases.
Financial portfolios can be complex and wide-ranging. They might include business assets, investment accounts, retirement accounts, multiple pieces of real estate, and international investments. In a high-asset divorce case, forensic accountants in Hartford have a specialized role in evaluating diverse holdings and tracking down assets and liabilities in many forms. From a court’s point of view, forensic accountants can deliver an accurate financial picture for equitable distribution purposes.
High-net-worth couples can hold business interests as part of the marital estate. For Hartford divorce cases with high assets, forensic accounting plays a key role in valuing business assets based on their structure and revenue. The business valuation process will typically include:
A forensic accountant’s purpose in business valuation will be to provide financial transparency to an often complex issue. Attorneys with experience in divorce cases with highly valuable holdings will be able to find forensic accountants who can help your case.
Divorce cases with high assets can also involve the problem of concealed assets. Fair distribution of property in divorce cannot happen unless both spouses are transparent about their assets and liabilities. In high-asset divorce cases in Hartford, forensic accountants can use a variety of methods in their role to locate hidden assets, such as:
Forensic accountants will dig into tax returns, business ledgers, credit card records, and other documents to track down hidden assets and unusual transactions. Using forensic accounting, your divorce attorney can also help identify dissipation of marital assets while the divorce case is pending.
Whether either spouse is trying to conceal assets or not, forensic accounting can bring all assets and liabilities to light and help both sides work toward an equitable settlement of all property issues.
Equitable distribution in high-asset divorce cases depends on financial transparency. The role of forensic accounting in Hartford high-asset divorce cases is to locate assets that might be difficult to track down otherwise. Our dedicated legal team at Dolan Divorce Lawyers routinely works with forensic accountants to help their clients every step of the way during the divorce and property division process. Contact our firm today to learn more.
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