When you have considerable assets, you have a lot worth protecting, and you also have a lot to potentially lose in your impending Texas divorce. Typically, high-asset individuals who make their way through divorces want to do everything they can to help preserve their wealth, and there are numerous methods you can employ to help make this happen. One such method many high-asset individuals are choosing to help them get their fair shares amid divorce involves adding forensic accountants to their divorce teams.
Just what is a forensic accountant, and how can one help you preserve more of the wealth you worked so hard to amass? According to Forbes, forensic accountants are essentially accounting specialists who can help you properly divide assets, or evaluate the value of certain assets, among other efforts. While forensic accountants can potentially help people of all income levels as they navigate their divorces, you may find it particularly beneficial to enlist the help of one if you have a lot to lose amidst your split.
Say, for example, that the relationship between you and the person you are divorcing has become especially ugly or acrimonious, and you have cause to believe he or she is hiding assets or income information from you. A forensic accountant will typically have the means to investigate further, potentially uncovering unethical or shady tactics he or she might have employed in an attempt to tuck away more money or assets for his or herself.
Even if you do not have concerns about your former partner hiding assets from you, a forensic accountant may be able to help you determine the value of certain complicated assets, such retirement accounts, real estate holdings or antique jewelry. Once you have a precise sense of what these assets are worth, you can move forward with dividing them appropriately.
This information seeks to educate you but is not meant to be a replacement for legal advice.