There are many ways in which a forensic accountant can assist in family law cases. Having a complete financial picture regarding all marital assets is very important in a divorce. One service we provide is searching for hidden assets. We assist family law attorneys in identifying assets that may have been hidden by one spouse.
Also, we determine income, value joint assets, and provide specialized support to help attorneys, and their clients, navigate a divorce or custody dispute. We offer an impartial 3rd party opinion on the value of assets and liabilities. The roles we play in family law cases are typically divided into 5 main categories:
1. Consultant
A family law attorney may retain a CPA as a consultant to provide advice on the facts and issues of the case and strategic positions that can be taken, offer opinions of value, and assist by contributing financial advice in the areas of pensions, tax, market analysis, and statistics.
2. Expert Witness
CPAs retained as experts may testify in depositions or at trials in support of their work product, opinions, or conclusions.
3. Court-Appointed Expert
In the role of a court-appointed expert, the CPA has the responsibility of providing a knowledgeable, objective, and supported opinion to the trier of fact.
4. Mutually Agreed-Upon Expert
In the role of a mutually agreed-upon expert, the CPA typically has the responsibility of offering a knowledgeable, objective, and supported opinion to provide the parties a common basis from which they can proceed. marital dispute.
5. Client-Retained Expert
The role of an expert working for one party is very similar to that of a neutral in that the CPA expert is gathering information and forming objective opinions related to financial matters of the case. The difference is the expert is engaged and working for only one side throughout the proceedings.
(Reference: www.AICPA.org)
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