During divorce proceedings, there doesn’t have to be a suspicion of fraud to involve forensic accounting experts. In fact, much of the work that financial experts do is validating expenses and income, or ensuring that the appropriate standard of value is being used for a valuation. These things help the court, or trier of fact, determine issues related to equitable distribution, marital versus non-marital property, and business values, to name a few.
With a rise in alternative dispute resolution, forensic CPAs play a vital role in helping attorneys and clients understand the financial consequences of their agreements. In divorce, there are a multitude of ways to divide assets, all of which have potentially different tax implications. By running tax-scenario models, forensic experts can help optimize asset division so that it is truly equitable for all parties.
If mediation or other forms of collaborative resolution don’t work, then you want a forensic accounting expert capable of delivering testimony in court. But not only do you want a capable expert, you also want a credible well-spoken CPA who can walk the court through financial exhibits with sound logic and principles that are easy to understand.
Some of the analyses we offer related to Family Law are:
- Family business valuation
- Child support calculation
- Marital vs non-marital property
- Asset tracing
- Income determination
- Standard of living
- Equitable distribution
- Separate vs community property
- Alimony calculation