How Forensic Accounting Can Help With the Property Division in Your Divorce
Separation is never an easy process, and when it comes to dividing marital assets in a Nevada divorce, the task can be even more daunting. With the complexity of financial records and the possibility of hidden assets, you might be left wondering if you’re getting your fair share. That’s where the value of forensic accounting comes in. Read on for a discussion of the benefits of forensic accounting in complex divorce matters. If you are an attorney or party to a complex divorce case in Clark County, Washoe County, or elsewhere in Nevada, in California, or in other jurisdictions within the U.S., contact Teichner Accounting Forensics & Valuations, PLLC, to discuss your needs and concerns with an expert, experienced forensic accountant.
Decoding the Maze of Financial Records
The role of a forensic accountant in a divorce case is to dissect and analyze a variety of financial records. This can include bank statements, credit card records, tax returns, business books, real estate documents, investment records, and more. With an expert eye, a forensic accountant can assist with determining the values of marital assets, helping to ensure an equal or equitable distribution.
Unearthing Hidden Information
Forensic accountants are trained to dig deep and uncover critical financial information that might not be immediately apparent. They can identify discrepancies between reported income and lifestyle, diversions of income and assets, irregularities in business transactions, and any attempts to undervalue or overvalue marital assets. Sometimes by delving into the intricacies of a spouse’s financial life, the forensic accountant can help ensure that all the assets and liabilities of the marital estate have been accounted for.
Assistance in the Discovery Phase
A forensic accountant can prove to be invaluable during the critical discovery phase of a divorce case. It is during this phase that each side obtains information from one another through processes such as depositions, interrogatories, and requests for production of documents. A forensic accountant can work directly with the lawyer to help make certain that relevant documents are requested and the right questions are asked so that the most pertinent information can be obtained.
Depositions and Trial Testimony
The forensic accountant may be subpoenaed to provide a testimony at a deposition and/or to testify at trial. Mr. Teichner has been qualified as an expert and testified numerous times at depositions and trials. Addionally, Mr. Teichner assists attorneys with formulating questions to ask opposing experts or the opposing parties at deposition and with the attoneys’ trial preparation by assisting with formulating questions to be asked during direct examination as well as with questions to pose to opposing experts on cross-examination at trial.
