If you and your spouse in California are getting a divorce, you know that dividing your assets and your debts will be something you need to do. Finding a way to agree on the value of different assets is an important part of this process and must be done before you make a final decision about who will receive what assets or who will be responsible for which debts. There are some situations in which the determination of asset value can be anything but straightforward. These are times when the use of a forensic accountant may be useful to you.
As explained by the Forensic CPA Society, a forensic accountant brings three distinct competencies to the table for you in your divorce. These include their accounting expertise, their audit capabilities and their ability to investigate sometimes complex financial matters or transactions.
If you own a business either alone or perhaps even in conjunction with your spouse, a forensic accountant can be called in to help identify the value of your business. This will be essential even if you and your spouse agree to continue running the business together. If you suspect that your spouse is hiding assets from you, a forensic accountant may be able to uncover those assets that may be yours, at least in part.
This information is not intended to provide legal advice but is instead meant to give divorcing spouses in California an overview of the type of work a forensic accountant can do and when or why they may be able to benefit from utilizing such a professional during their divorce process.