Per Illinois law, divorcing spouses have a right to an equitable share of the marital estate. Spouses also have a right to fair child support and/or spousal support arrangement. However, to get a fair divorce resolution, an accurate and complete inventory of the spouses’ finances must be obtained. When spouses have complex or high-value assets or are unwilling to be truthful about property and debt, securing the financial information needed to reach a fair divorce settlement or judgment is particularly complicated. Forensic accounting is a process during which a detailed examination of a spouse’s finances is taken, assets are valued, and evidence of financial deception is uncovered.
Your Lawyer May Work with a Forensic Accountant to Interpret Complex Financial Portfolios
A forensic accountant is an accountant with strong investigative skills. Forensic accountants are often utilized during the discovery portion of the divorce process to evaluate financial records, scour financial documents for signs of deception, trace assets, appraise a spouse’s business, or find hidden accounts. Forensic accountants may also testify about financial issues during a divorce trial. A divorce lawyer experienced in cases involving complicated financial matters may work closely with a forensic accountant to ensure that an accurate, complete assessment of a spouse’s finances is conducted.
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