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Do you need to hire a forensic accountant to find hidden assets?

On Behalf of | Oct 11, 2024 | High-asset Divorce

When going through a divorce, uncovering hidden assets can be a major concern. If an ex-spouse attempts to hide money or valuable property, it can impact the fair division of assets. Hiring a forensic accountant may be the solution to ensure an accurate picture of your finances.

There are several things to take into consideration when deciding whether to hire a forensic accountant during a divorce in Tennessee.

What does a forensic accountant do?

A forensic accountant specializes in investigating financial matters, tracing funds, and identifying assets that may be hidden. They examine financial records, bank accounts, business dealings, and other sources to find discrepancies or undisclosed income. Their expertise can be vital in complicated financial situations or when there is suspicion that an ex-spouse is being dishonest about assets.

When should you hire a forensic accountant?

Hiring a forensic accountant is advisable if there are signs that your ex-spouse may be hiding assets. These signs could include sudden changes in spending habits, unexplained transfers of funds, or significant discrepancies in financial statements. In Tennessee, the court requires full disclosure of assets. If there are doubts about the honesty of disclosures, a forensic accountant can help verify the information and ensure a fair division.

Protecting your financial interests

Uncovering hidden assets can have a significant impact on the final outcome of property division in a divorce. If an ex-spouse hides assets, it could mean losing out on property or funds that are rightfully yours. You can use a forensic accountant’s findings in court to help identify all assets and divide them fairly. Their reports provide evidence that can support your case and protect your financial interests.

Trusting experts to find what matters most

If you suspect that your ex-spouse may be hiding assets, hiring a forensic accountant could be crucial in protecting your rights. Their expertise ensures transparency and accuracy.