If divorce seems inevitable, it is important to understand how sensitive and contentious the matter of asset division can be. This is especially relevant if either you or your spouse are business owners, or if you suspect that your spouse is hiding assets.
Hiring a forensic accountant is the first step toward ensuring that discussions regarding asset division and business ownership proceed fairly. By understanding how to find the best forensic accountant for the job, you can be confident that you will receive a fair valuation for a business that is up for contention in your divorce.
Why do you need a forensic accountant?
An accurate business valuation will reveal the true monetary worth of your business, putting you in a strong negotiating position during the division of marital assets. You can strive for a compromise that might allow you to retain full ownership of your business after the divorce and keep operations running as normal. Even if your spouse receives a business valuation, it can be a good idea to hire your own forensic accountant to ensure impartiality.
How can you choose the right forensic accountant?
Your chosen forensic accountant should be reputable, impartial and thorough. Remember that your business and possibly even your livelihood are at stake, so it is crucial to have the best person for the job. Make doubly sure that you hire a professional who will respect your privacy, especially if you feel the need to investigate whether or not your spouse is hiding assets.
The outcome of asset division in a divorce can affect the course of your life for years to come, especially when there is a business in the mix. The right forensic accountant will equip you with a business valuation that can make a favorable conclusion that much more attainable.
