Divorce is a mentally exhausting process. In high-net-worth divorces, dividing property becomes more complicated, particularly when it comes to things like retirement accounts, business interests, real estate, or investments.
If you’re concerned that your spouse isn’t being completely upfront about finances, or if your asset portfolio is complex, it might be time to bring in a forensic accountant.
At C.E. Borman & Associates, our team of Bryan, Texas divorce property division lawyers works with reliable, experienced forensic accountants who can help uncover hidden assets and ensure that all financial information is accounted for and help you and your soon-to-be ex reach a divorce settlement that’s as fair and transparent as possible.
In this blog, we’ll explain what a forensic accountant is, what their role is in high-net-worth divorces in Texas, and how to know whether and when to seek the assistance of a forensic accountant when going through a divorce.
What is a Forensic Accountant?
A forensic accountant is a financial professional trained to dig deep into financial records, identify inconsistencies, and trace assets. Their job is to make sure nothing is missed or misrepresented during the divorce process.
They can help:
- Uncover hidden assets, like offshore accounts or undeclared income
- Value businesses, property, or investments accurately
- Analyze financial records such as bank statements, credit card records, and tax returns
- Spot signs of fraud, embezzlement, or manipulation
- Testify in court as an expert if needed
This level of scrutiny can be especially helpful in high-asset cases where one spouse may have had more control over the finances.
Why It Matters in a High-Net-Worth Divorce
High-net-worth divorces often involve more than just dividing a home and a couple of bank accounts. You might be dealing with:
- Stock portfolios
- Real estate in multiple locations
- Retirement accounts or pensions
- Business ownership or partnerships
- Intellectual property
- Luxury assets or collectibles
All of this needs to be accurately valued and fairly divided. In Texas, which is a community property state, anything acquired during the marriage is generally split equitably (though not always 50/50).
A forensic accountant helps ensure that all marital property is fully disclosed and properly valued.
When and Why Should You Hire a Forensic Accountant?
Not every divorce requires a forensic accountant, but if you’re dealing with significant or complex assets, or if there’s any uncertainty around your financial picture, involving one early can make a big difference.
Here are some common signs you may need a forensic accountant involved in your divorce:
- Your spouse is secretive about finances or manages most of the money
- You suspect assets are being hidden, transferred, or undervalued
- You’re dividing a business, partnership, or other complex financial interests
- There are large discrepancies between reported income and actual lifestyle
- You want extra reassurance that nothing is being overlooked or manipulated
A forensic accountant brings a trained, unbiased eye to your case. They know what to look for and where to find it. Their detailed financial analysis can reveal issues that might otherwise go undetected, helping ensure that asset division is fair and that you’re not left at a disadvantage.
The earlier you involve a forensic accountant, the more time your legal team has to prepare a thorough case strategy based on a complete and accurate understanding of your finances. Even if you don’t end up going to court, having a clear financial picture can lead to better negotiation outcomes and less stress in the long run.
Contact the Brazos County Divorce Lawyers at C.E. Borman & Associates Today
Divorce itself is already a tough road to embark on. Do not let the hidden agendas of ex-partners or accidental oversight of financial details negatively impact the outcome of asset division.
At C.E. Borman & Associates, we pride ourselves on providing the best service to our Brazos County clients by connecting you with the right professionals, including trustworthy forensic accountants, when the situation calls for it.
We’re here to make sure you understand your options and walk away with what’s fair. Schedule a consultation today by calling 979-200-4725 or using our contact form.
