In high-asset Florida divorces, financial complexity can lead to confusion and mistakes. A forensic accountant can help uncover the truth behind income, assets and debts.
Not every divorce requires a forensic accountant, but some situations raise serious financial red flags. Here are four signs that may necessitate an in-depth review of your marital assets.
1. Your spouse controls all financial accounts
When only one spouse manages the finances, the other spouse may lack key information. If bank statements, tax returns or investment documents are missing, this can be a sign of hidden assets. A forensic accountant can trace account activity and identify suspicious patterns or unusual transfers.
2. Business ownership complicates financial records
If either spouse owns a business, determining its value and income can be difficult. Business owners can adjust financial statements to make profits appear lower than they really are, whether intentionally or not. A forensic accountant can examine financial documents and evaluate whether the business shows its true worth.
3. Unexplained changes in spending or income
Sudden shifts in spending habits can signal financial manipulation. The same is true for missing income or delayed bonuses. For example, a spouse may delay a large commission or transfer funds to another person. Forensic accountants can detect these irregularities and provide a clearer picture of the couple’s financial situation.
4. Large debts or liabilities appear unexpectedly
When new loans, credit lines or tax debts appear during a high-asset divorce, it is worth seeking answers. One spouse may try to reduce the value of marital property by increasing liabilities. Forensic accountants investigate the legitimacy of these debts and determine who should be responsible for them.
In Florida, equitable distribution means the court divides marital property fairly, not always equally. If financial dishonesty occurs, it can unfairly affect the final outcome. A forensic accountant can provide detailed reports and expert analysis to ensure that the financial facts remain clear.