Dividing money and property in a high-asset divorce can get tricky. When businesses, investments, or hidden money enter the picture, things become even more complicated. Forensic accountants make sure everything stays fair and uncover all assets.
Finding hidden money and property
Sometimes, a spouse hides money or assets to keep them out of the divorce settlement. Forensic accountants check bank records, tax returns, and other financial documents to find anything left undisclosed. Both spouses must honestly report their finances, and forensic accountants verify that happens.
Figuring out what businesses and investments are worth
If one or both spouses own a business, stocks, or real estate, a forensic accountant calculates their value. They examine business records, market trends, and income reports to determine an accurate worth. Courts use this information to divide assets fairly.
Separating personal and shared property
Ohio law separates property into two types: personal (owned before marriage or received as a gift) and marital (gained during the marriage). A forensic accountant traces money and property to determine ownership. This becomes especially important when personal and shared money mix together.
Calculating income for support payments
Child and spousal support depend on each person’s income. Some business owners hide income or manipulate records to lower payments. A forensic accountant examines financial records to determine real earnings, ensuring fair support payments under Ohio law.
Making sure everything stays fair
Forensic accountants create clear financial reports and stop one spouse from gaining an unfair advantage. Courts rely on their findings to divide assets properly during the divorce proceedings and confirm accurate financial disclosures.
