Washington operates under community property guidelines when a married couple decides to part ways. Spouses must split all marital assets and liabilities 50/50 as part of a settlement. This can lead to complications in a divorce if one spouse is trying to beat the system by hiding assets. If you suspect your ex of stashing cash or attempting to manipulate the disclosure process, a forensics accountant can help.
A forensics accountant is not an attorney but is able to assist a divorce attorney during the discovery stage, which is when spouses must fully disclose a list of marital property and any debts incurred during marriage that exist when one files a divorce petition. If you think your spouse is concealing assets, underestimating their value or otherwise trying to deceive the court, a forensics accountant can help ensure that the deposition is properly prepared and that no stone is unturned during the discovery process.
Forensics accountants can track financial transactions for a divorce client
Forensics is a specialty field in the financial industry. Accountants trained in forensics can scrutinize an individual’s financial transactions. They can obtain documentation related to your spouse’s existing financial accounts. A financial forensics investigator can deal with all finance-related issues stemming from personal or business accounts.
By relying on the unique set of skills a forensics accountant can bring to property division proceedings, you can accurately track, identify and value all your marital assets. One of the ways spouses try to hide assets is to undervalue luxury items, such as artwork, real estate or jewelry. With forensics support, you can be confident that the value of all assets is accurate.
Courtroom testimony may help you win your case
If you challenge the assets in your divorce because of evidence suggesting that your ex is hiding assets, a forensics accountant may testify as an expert witness. Such an accountant can provide testimony regarding analyses of financial documents and information that one may have discovered during an investigation. This type of testimony may be just what you need to convince the court that your ex is not adhering to property division rules.
Hiding assets is a form of perjury. If the court believes you have caught your ex attempting such a scheme, the judge can hold him or her in contempt of court. More importantly, bringing a hidden asset scheme to the court’s attention helps ensure that you will receive a fair settlement in alignment with Washington property guidelines in a divorce.