Should I hire a forensic accountant for my divorce?

Like most answers to legal questions the answer is — you guessed it — it depends! A forensic accountant could be pivotal when you are navigating a high asset or complicated divorce. A forensic accountant is also crucial if you suspect your spouse is hiding income or assets. If a case goes to trial, your forensic accountant will likely act as an expert witness.

What is the Role of a Forensic Accountant?

Forensic accountants wear many hats. In the past, I have used forensic accountants to:

• Help determine a paying spouse’s ability to pay alimony or receiving party’s need for alimony;

• Prepare a marital balance sheet identifying all of the couple’s joint assets and liabilities;

• Value a spouse’s business(es);

• Identify separate/pre-marital property; and

• Trace misappropriated marital funds.

Can a Forensic Accountant Change the Outcome of a Case?

Absolutely! In certain cases it would be foolish to proceed without a forensic accountant. For instance, if the parties jointly own a business, a court is much more likely to trust the valuation of an expert over the self-serving testimony of a party. There may also be assets that have pre-marital and and marital components. For these assets, Georgia usually requires a Thomas calculation that is usually performed by a forensic accountant.

Can My Spouse and I Use the Same Forensic Accountant?

Yes. Forensic accountants are sometimes considered joint/neutral experts. This should be decided at the outset of the case. A neutral forensic accountant can be very helpful to help parties reach an agreement in an especially complex case.

Lennon, Giovinazzo & Steele Family Law attorneys have the knowledge and experience to help with any family law issues. Contact us at 4o4.726.8501 or visit our website at www.lgsfamilylaw.com to schedule a Zoom or in-person consultation.