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How your divorce can benefit from a forensic accountant

On Behalf of | Jan 24, 2019 | High Asset Divorce |

Divorce affects Missouri families of all types, from high-profile power couples to the family down the block. However, when it comes to complex divorces, sometimes additional expertise can ensure an equitable division of property. The team at Turken & Prozenski, L.L.C. has experience handling the complex nature of dividing substantial assets and spousal maintenance agreements.

Bond Beebe Accountants & Advisors states that when a spouse suspects hidden assets or unreported income, a forensic accountant can often assist in the divorce settlement. These highly experienced, qualified specialists use several strategies for uncovering all assets considered marital property.

  • Imaging electronic devices. Special software provides access to a hard drive’s deleted files, emails and other pertinent information. Using this technique, accounting professionals can find assets previously hidden.
  • Reviewing financial information. The specialists examine all financial activities, from business and personal tax returns to a search through public records and loan applications, identifying potentially questionable actions.
  • Investigating a closely held business. Business owners often take advantage of their position and take corporate funds as additional compensation or use the money for executive perks. An investigation can ferret out the information and uncover an accurate value of the business.  
  • Analysis of the family’s lifestyle. Forensic experts determine whether the reported income supports the expenditures. He or she reviews financial records including credit card statements, brokerage and bank accounts, as well as any other related documentation that can substantiate the family’s quality of life.

Forensic accountants conduct thorough financial investigations. They often act as expert witnesses when a divorce goes to court. Visit our webpage for more information on this topic.

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