As you and your spouse consider divorce, various concerns arise. You may wonder where things went wrong. You likely worry about who will get the house. And, you might question the full extent of your marital assets.
While many divorcing couples own real estate and vehicles, some must consider retirement accounts and investment portfolios. If your spouse has a pension, you may not know how much money it involves and what your rights to it are, related to your settlement. Maybe you do not know what your spouse’s business interest is worth. And, while Oregon courts generally aim for a “fair” division of property, you may question your rights to your spouse’s inheritance.
If your spouse managed your finances, you may not even know what marital assets you have. In that case, you may need help finding out what you are entitled to as you part ways. A forensic accountant can help you find and determine the financial accounts which factor into your settlement, for consideration as you finalize your divorce.
How it will benefit you
As you begin to explore your financial options for your single life, you can see how different your financial situation will be. Even if you do not necessarily want to prolong your divorce proceedings, you may choose to fight for a full examination of your marital estate before settling and dividing your property in the process.
As such, the services of a forensic accountant can be beneficial as he or she helps you:
- Find hidden assets or accounts
- Decide which of your assets are “marital property”
- Account for marital debts
- Determine your spouse’s true income
- Valuate business holdings and uncover business profits
He or she may be able to provide a business valuation and testify on your behalf, should your spouse contest the financial findings in court.
A considerably fair settlement is not possible without knowing what there is to divide. By drawing from the expertise of a forensic accountant, you may be able to better position yourself after your divorce through an accurate, and therefore, truly equitable settlement.