When Might a Forensic Accountant’s Help Be Needed in a High Net Worth Divorce?

By The Law Offices of Paul A. Boronow, PC on March 23, 2015

Long Island Family LawWhen spouses that share a high net worth decide to divorce, complex financial questions are often involved. If you are not in charge of the family finances, or if your spouse has a controlling share in a business, it can be very difficult to determine exactly what your family owns and what you are entitled to take with you in a divorce. Rental or investment properties, business holdings, investment accounts, and other assets may all play a role in your family’s finances.

Working with a New York attorney with experience handling high net worth divorce is a crucial first step toward protecting your interests. When accounts are complex or there is reason to believe your spouse is attempting to hide assets, your attorney may recommend adding a forensic accountant to your team in order to ensure you receive an equitable share of the marital property.

A forensic accountant specializes in examining financial records and other information to determine exactly which assets are involved in a high net worth divorce, what they are worth, and how they are being handled. By taking a very close look at “the books,” forensic accountants can often pinpoint questionable transactions or uncover assets that should be considered when the spouses are creating a settlement agreement.

Making sure your marital property is divided equitably in a divorce protects you now and in the future, when it is time to consider retirement. It also helps protect your children by ensuring the necessary assets are available to pay for their schooling, medical needs, and other activities.

Contact The Law Offices of Paul A. Boronow for the representation you need and deserve for a successful outcome.

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