Forensic Accountants for Hidden Assets in a Divorce

We help our clients to uncover the true value of matrimonial assets to allow for a fair outcome.

In divorces where high-value assets or businesses are involved financial settlement proceedings can easily become complicated and even contentious. If you’re uncertain about the extent of your former spouse’s assets or suspect that they may be trying to conceal them, using a forensic accountant can help to bring clarity.

Forensic Accounting Support For Rowlinsons' Family Law Clients

At Rowlinsons, our Family Law Solicitors are experienced in advising divorcing couples on using a forensic accountant in complex cases.

When the circumstances of the divorce proceedings dictate it, we help our clients choose the right forensic account services for their needs, and we provide expert advice on how the findings can be used to ensure a fairer outcome.

If you’re embroiled in a financial dispute with your ex-partner and believe that further investigation into their finances would ensure the fairest outcome, we’ll talk you through whether forensic accounting is the best option for you.

As members of Resolution, we’re committed to resolving any disputes as amicably as possible. This means you get a non-confrontational and collaborative approach to divorce which avoids lengthy battles, reducing stress on you and your family.

Call us today for expert guidance on the use of forensic accountancy in divorce or arrange a callback. We also have facilities available in North Wales if you would like to arrange a meeting in person.

What is a Forensic Accountant?

Forensic accounting is used to examine the finances of an individual or business in meticulous detail. Forensic accountants use their accountancy, auditing, and investigative skills to scrutinise finances and uncover any discrepancies, inaccuracies, or fraud. Their findings can be used in a court of law as evidence in divorce proceedings to support a financial claim.

At Rowlinsons, we work alongside forensic accountants to get to the truth and achieve the best possible outcome for our clients.

Why use a Forensic Accountant?

Often in relationships, there is a financially stronger partner. They may have a higher income and primarily manage finances. This setup might work well during the marriage, but it can become a problem when the marriage breaks down. At this point, the person with a higher income or more assets may not want to include certain things such as property, valuable belongings, or businesses as part of the financial settlement, and this can deprive the other partner of their fair share.

If you suspect your ex is trying to conceal assets, you may require a deeper investigation into their finances. Financial disputes can result in drawn-out legal proceedings which put more stress on everyone involved as the process drags on. Using a forensic accountant can help by getting an accurate picture of finances so you know what assets to include. This means you can settle matters quickly and more reasonably and avoid wasting time with future financial claims.

How can a Forensic Accountant Help in Divorce?

A forensic accountant can help uncover hidden assets and unstated income, including overseas bank accounts. This not only reveals the true value of all matrimonial assets but also provides evidence for any financial claim and helps strengthen your negotiating position.

Divorce law states that couples must be open and honest about their finances. If you suspect this is not the case with your ex-partner, then a forensic accountant can review his or her finances and uncover any concealed assets so that the division in the divorce settlement is fair. 

What Does a Forensic Accountant do?

A forensic accountant specialises in rooting out any undisclosed assets, income, or fraudulent activity to give you a complete overview of finances. Their process involves paying close attention to facts and figures and focusing on accuracy (just like a normal accountant would) while using their investigative skills to dig deeper.

Their investigation involves following the paper trail to trace property, income, and bank accounts at home and overseas. Then once they’ve brought all relevant information to light, they estimate the value of those hidden assets for inclusion and prepare a detailed report of their findings to be used as evidence.

When do I Need Forensic Accounting?

Not all circumstances merit the use of forensic accountancy. If you’ve been married for many years and your ex-spouse was upfront about selling or transferring property or a business during that time, there may not be grounds for investigation. Likewise, if the marriage only lasted a short time and a pre-nuptial agreement was used to ring-fence the assets in question you may not have a case worth pursuing.

However, when you believe there was an intention to conceal the sale of property or the extent of income it may be worth the time and money spent on a forensic accountant. Our Family Law solicitors can help you determine if the use of a forensic accountant is justified.

Freezing Orders and Injunctions

If there is a risk that your ex-spouse may attempt to conceal or dispose of assets to defeat your valid financial claim, you can apply to the court for a Freezing Order or Injunction. This is a court order that prevents a person from selling, managing, or transferring the assets bound by the order. At Rowlinsons we can help you with the application of a Freezing Order if you think your ex-partner might try to frustrate the course of justice in this way.

Will I Need to go to Court?

Not necessarily. When using the services of a forensic accountant their findings will be examined by the court and used as evidence in the proceedings. However, using forensic accounting doesn’t have to mean putting yourself through public court proceedings. You can still use collaborative law, mediation, or a traditional divorce solicitor to settle things out of court and maintain your privacy.

Family Law Solicitors on Your Side

If you’re considering using forensic accounting, get expert legal advice early on to ensure the process goes as smoothly as possible. Avoid having to prolong divorce proceedings and get clear on the financial facts today.

At Rowlinsons we’ll guide you through the process. We work alongside forensic accountants to get to the truth, so you get the best outcome for you.