When to Hire a Forensic Accountant with David Gralnick
If you’re worried about the money in your divorce, or splitting up assets that you shared during your marriage, you may need a forensic accountant. Maybe you’re selling a business, or struggling to value your home, or there seems to be more money coming in than going out and things don’t add up.
When determining value of an asset or business, a forensic accountant will work with the value as of the date of commencement, or the day you file for divorce. One thing they will look for is “co-mingled” funds. If you owned a business or fund before a marriage, but have moved monies from that business into joint marital accounts, those funds may have been co-mingled and could now be subject to joint ownership.
You can hire a forensic accountant independently to follow the money or through an attorney. The advantage of going through the attorney is that the information is then protected by attorney/client privilege and isn’t subject to discovery.
If you’re worried that your ex-spouse is sending money to the Caymans, it’s not as easy as you’d think. There’s always a money trail, especially in today’s climate where people use credit cards for most transactions. But a forensic accountant can help you follow the money and ensure that you get your fair distribution.