Forensic accountants are an important factor of divorce when there are suspicions of a dishonest spouse. The financial aspects of divorce are incredibly important. The spouses will have to each come up with their own statement of net worth. A statement of net worth includes a list of monthly expenses for housing, expenses, food, clothing, utilities, insurance, medical bills, taxes, household maintenance, education, transportation, and recreational activities. You will also have to provide general information about the family, gross income, assets, liabilities, debts, and more.
If either party has any suspicion that the other spouse is not being completely truthful about their statement of net worth, they may have to retain the services of an experienced forensic accountant. A forensic accountant will conduct an investigation into the real facts of the person’s finances. They will do things such as assess how feasible the person’s income is in relation to their expenses. If the individual in question is a business owner or does not have to file a W-2 form in their line of work, finances can become complicated. If the individual is found to be completely dishonest about their finances, they may find themselves in serious legal trouble or in trouble with the Internal Revenue Service.
If you have questions about the divorce process and how finances are assessed, contact an experienced divorce attorney today.
Peter V. Mandi, Esq. is an experienced divorce and family law attorney located in Bohemia, New York. If you require strong and dedicated legal representation in Long Island, New York, contact Peter V. Mandi & Associates, Inc. today for a free consultation.