When dealing with a divorce, financial issues can be one of the biggest battles in the divorce proceedings. In some cases, a spouse may attempt to hide or relocate assets to keep them out of the eyes of the court. This is an effort to keep the other spouse from taking all or a portion of that asset, whether they worked for it or not. In recent years, there was no easy way to prevent this. However, the use of Forensic Accounting is making it nearly impossible to conceal assets.
Forensic Accounting is the process of investigating and auditing financial information. This goes beyond a glance at a bank statement or tax returns. Forensic accountants analyze patterns of spending and “money trails” to find assets that may not have been recovered otherwise. These accountants can also analyze computer data to discover any irregularities or issues with assets. The burden of proof is not left to either spouse; the divorce court will serve a subpoena on the financial institution. That institution must then provide the court with all records pertaining to the parties. This ensures that nothing can be hidden or “swept under the rug” by either spouse. While the accounting process is tedious and lengthy, it can ensure a fair and equitable dissolution of the marriage and leave both parties to start fresh without financial issues still lingering from the marriage.
If you have questions about Forensic Accounting and whether it can be beneficial to your situation, it is important to seek the advice of a qualified Las Vegas Divorce Attorney. Your attorney is an expert in state and local laws as they apply to a divorce case and can give you the most accurate information. Your attorney can also give you advice on how to handle your situation to get the best outcome possible. If it is necessary to hire an accountant to assist you, your attorney will have recommendations for you so you can get the most qualified expert to help with your case. You can then move on with your life with your fair share of your marital assets.