Facing divorce is painful enough without the added stress of wondering whether your soon-to-be ex is hiding assets. Something in your spouse’s words or deeds has raised your suspicions, and before you head to court, you would like to find out whether hidden assets really exist. The good news is that tracking down financial indiscretions is not difficult these days. Your attorney can help, and so can a forensic accountant.
A common problem
In suspecting your spouse of financial infidelity, you are not alone. Research by the National Endowment for Financial Education indicates that hidden assets are a reality in two out of three marriages. Such assets could be in the form of a pension or retirement account. Some people hold real estate investments their spouses know nothing about. Others keep funds offshore.
Where to begin looking
Because most financial records are now electronic, maintaining secrecy is not as easy as it used to be. Do you and your spouse share a computer? You may find clues to financial dealings by checking the browser’s history. Information-gathering software exists for both computers and smartphones, as well as GPS devices that you can hide in the car. Helpful apps can tell you, for example, whether your spouse is making ATM deposits to a different bank in a strange part of town. You might even find a clue about financial hijinks on a social media site your spouse has visited.
How a forensic accountant can help
When it comes to tracing properties and who owns them, assessing the value of an investment or evaluating a financial report, forensic accountants are specialists. In fact, forensic analytics experts can reconstruct financial fraud through the analysis of electronic data. These professionals often serve as witnesses in divorce proceedings.
Rely on legal expertise
You will also want to work with an experienced attorney. Reach out for advice and assistance from a lawyer who can help you uncover any assets your spouse may be hiding. The results may combine to make a considerable difference in the outcome of your divorce.
Call Korshak & Associates, P.A., to find out how we can help: 407-680-1471.