A divorce becomes a complicated legal and financial matter when the parties are unable to compromise and when many assets are involved. Often the unwillingness to compromise is fueled by perceived or actual misrepresentations of assets and/or income in the marital estate.
Some of the factors that contribute to this are:
- Different levels of financial knowledge between divorcing parties
- Different levels of involvement in the financial management and responsibilities in the marital household
- Fear regarding the unknown standard of living after the divorce
- Protective approach by one or both parties to intentionally hide assets or artificially inflate expenses
- Misconception regarding the ownership of and right to non-marital assets
The VFP team is experienced in review, organization and presentation of financial information. Our work in financial forensic has included:
- Review and analyze financial data to assess its completeness, accuracy and reasonableness
- Prepare a lifestyle analysis to establish the standard of living and disposable income
- Review and assess claims of hidden assets or hidden income
- Trace financial information to evaluate claims for marital versus separate property
- Reconstruct personal and business financial records
- Assist attorney in preparing document requests, gathering information and preparing financial affidavits
- Issue an expert report to communicate our findings and if necessary testify in a deposition or in court
- Review reports submitted by other financial experts
- Analyze post-decree marital settlement agreement true-up calculations
As your financial forensics expert, VFP can aid in relieving the fears about financial “unknowns” by providing fair, objective advice. To learn more about our forensic services, review: What are Forensic Services? and How is VFP Different? pages in the Forensic Services section. For more information about Divorce visit VFP Divorce.