Hiring a forensic accountant can be very important for a spouse who is going through a high asset divorce in Pennsylvania. When there are substantial assets involved, a forensic accountant can make sure that they are all accounted for and properly valuated. A forensic accountant may also be useful when a person's ex-spouse is attempting to hide certain assets and misrepresent their income or net worth during property division.
Wealthy married couples usually have several different types of assets that are located in various bank accounts, investment portfolios, businesses and other areas. Part of a couple's net worth may also be held in collectible items, real estate and retirement accounts. When a wealthy couple divorces, a forensic accountant can make sure that the property division process includes all of the marital assets, even assets that may be in other jurisdictions and other countries.
When one spouse is not being upfront about the value of some of their assets during a divorce, a forensic accountant can help get to the bottom of things. By carefully comparing tax returns, bank balances and other financial information, a forensic accountant may be able to find evidence that a person's soon-to-be ex-spouse is intentionally hiding income or creating fake debts.
Divorce attorneys often enlist the expertise of forensic accountants when they are working with a wealthy client. An attorney may be able to help an individual who is going through a high asset divorce to identify all assets that can properly be classified as marital property and then negotiate a property settlement agreement that can be approved by the court.