Regardless of whether your Missouri divorce proceedings are amicable or contentious, disentangling the finances and ensuring asset division is equitable can be challenging. This is especially true when the process involves a business, children and high-value assets. Turken & Porzenski, L.L.C, often represents clients who need experience navigating complex divorce proceedings.
Dulin, Ward & Dewald, Inc report that forensic accountants can help determine an appropriate settlement by using discovery techniques designed to find concealed assets. In situations where your spouse controls the marital assets or owns a business, there is the potential for understatement of income, property values and assets.
Forensic accountants can conduct a thorough investigation of the spouse in question, from personal expenses to tax returns, comparing the numbers with their reported net worth. If there is a business involved, a valuation can determine the market value and help ensure the settlement is a fair distribution of assets. There may also be a similar assessment required on the personal property and marital estate.
The investigation may also include a lifestyle analysis. This can impact the divorce settlement, particularly if there are young children living at home. The standard of living maintained when you and your spouse were together may be a critical component of the settlement.
When emotions run high, having a qualified impartial third-party looking at the finances can help ensure equitable distribution of marital assets. They can assess the fairness of proposed settlements, determine the value of professional practices and potentially reveal assets that were previously unknown by one of the spouses. Visit our webpage for more information on this topic.
