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Divorce

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Divorce

EXAMINATION

For high income / high net worth individuals, a forensic accountant can be beneficial to ensure that income and assets are accounted for.  It is not uncommon with large amounts of money on the line for a spouse to plan financially in advance before starting divorce proceedings.  A good forensic accountant can also advise you on the most tax advantageous way to split assets and liabilities.

TAX RESOLUTION

Money fights and money problems are the number one reason for divorce.  Many times, one spouse becomes jointly liable for another spouse’s tax liabilities.  There are ways to mitigate this problem.

 

For unpaid tax liabilities
we specialize in:

  • Innocent spouse relief
  • Injured spouse relief

For determining assets and income, we conduct:

  • Asset tracing
  • Income tracing
  • Tax implications of divorce (selling assets, assigning income, dependents, etc.)
  • Courtroom testimony

Many people assume a forensic accountant is only important if there may be hidden assets, but that is not the case. While they can certainly help uncover any bad financial behavior on your spouse’s part, they can also play an important role when:

  • There are many assets or high assets involved;
  • The case is financially complex;
  • Either spouse is a contractor or other 1099 worker;
  • You have conflicts over property division;
  • Either spouse — or both spouses — own a business; or
  • Either spouse had significant pre-marital assets or liabilities.