A divorce accountant specializes in complex assets such as co-owned businesses, as well as sorting out very complex accounts and portfolios to see what they are truly worth. Sometimes both parties in a divorce will agree to bring in a divorce accountant to get an objective opinion. In other cases, you may have to hire a divorce accountant of your own to discover whether your spouse is hiding or undervaluing assets.
Divorce accountants are particularly helpful if:
- You and your spouse owned businesses or shares of a business together, and need to buy each other out. The value of a business can be difficult to objectively determine and requires skilled appraisal.
- A large portion of your investment is tied up in real estate, such as summer homes or vacation properties.
- A prenup is being overturned or modified by the judge, and assets may be divided up differently than agreed upon.
- The value of an asset assigned in a prenup is disputed.
- You have a complex estate involving trust funds or other special provisions.
- You suspect your spouse of misrepresenting accounts, businesses, properties or their value – or of mismanaging funds.
Of course, every divorce lawyer will demand access to crucial financial records during the discovery phase of a divorce case. But what if you suspect those records are incomplete or falsified? And even if everything is above board, complicated financial histories can be difficult for lawyers to comb through and digest. In these cases, it's best to bring in an expert divorce accountant to fuel your attorney with the data they need – and the evidence to back it up.
Not everybody needs a divorce accountant to come out ahead in their divorce. But if you want to see your fair share of your investments, their expertise can be invaluable.
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