Going through a divorce is challenging enough without the added worry that you won’t get a fair financial outcome. When your family has significant assets, the complexity of your financial situation can be concerning, especially if you weren’t the leading manager of your family’s finances. Your primary concern is to get a fair settlement that protects your financial future. You want to understand the complete financial picture, but may not know what questions to ask or how to find the correct information.
At Weiner Law Group, LLP, we understand the stress and uncertainty that often accompany these situations. We have helped clients navigate complex, high-stakes divorces since 1988, guiding them to secure a fair and equitable settlement.
How Can a Professional Help Secure Your Financial Future?
You need a complete and accurate view of the marital estate to ensure the financial settlement is fair and supports your future. Consider hiring a forensic accountant, a high-asset divorce professional who can help you understand your financial situation and give you an unbiased, third-party review of financial disclosures. A forensic accountant provides the detailed, clear picture of your finances needed to reach an equitable settlement in New Jersey.
What Does a Forensic Accountant Do in Divorce?
Think of a forensic accountant as a financial detective. Their role is to carefully examine financial records to uncover the complete financial picture of the marital estate. They utilize a combination of accounting, auditing, and investigative skills to scrutinize complex financial data that might otherwise go unnoticed. This specialized expertise enables them to identify what an ordinary accountant might overlook, ensuring no stone is left unturned.
The forensic accountant will perform a detailed financial investigation in divorce proceedings, including the following tasks:
- Identifying and tracing hidden assets like offshore accounts, undisclosed investments, or cash holdings;
- Performing detailed business valuations to establish the actual worth of a family-owned or closely held company;
- Analyzing income streams from different sources, such as salary, bonuses, and business profits, to determine appropriate alimony and child support;
- Uncovering the dissipation of marital assets, which can occur when one spouse spends money on things unrelated to the marriage, such as gifts for a new partner;
- Preparing comprehensive reports that detail their findings and can be used in settlement negotiations or as evidence in court; and
- Testifying as an expert witness to clarify complex financial issues for a judge.
Their analysis offers the objective data necessary to make a strong case and advocate for your fair share.
When to Hire a Forensic Accountant?
While not every divorce requires the involvement of a forensic accountant, their expertise is essential in high-asset cases with specific red flags. We frequently advise hiring a forensic accountant when:
- Your spouse owns a business. Valuing a business, especially a privately held one, is complicated. Forensic accountants can review the books, accounts receivable, and goodwill to determine their value.
- You suspect hidden income or assets. If your spouse was secretive about money, their lifestyle seems to exceed their reported income, or you have noticed unusual financial behavior, an accountant can investigate these discrepancies.
- The marital estate includes complex assets. Assets such as stock options, deferred compensation packages, trusts, or extensive real estate portfolios require specialized knowledge to value accurately for division.
- Your spouse handled all the finances. If you weren’t involved in daily financial decisions, a forensic accountant can help you understand the full extent of your marital assets and liabilities.
- There are claims of wasteful spending. If you believe your spouse has intentionally wasted marital funds, an accountant can trace and measure that dissipation.
Hiring an expert early in the process gives them time to conduct a thorough investigation.
What Is the Impact of New Jersey’s Law on Equitable Distribution?
In New Jersey, courts divide marital property under the principle of equitable distribution. Equitable distribution does not mean a 50/50 split, but rather a fair and just division under the case’s circumstances. A judge will consider several factors, including:
- Length of the marriage,
- Standard of living, and
- Economic circumstances of each party.
These factors also include each person’s income and earning capacity, as well as their age and health. The goal is to separate the marital assets in a way that acknowledges each party’s contributions to the marriage, both financial and non-financial.
For a court to ensure a truly fair division, it needs a complete and precise list of all marital assets and their values. The role of a forensic accountant or high-asset divorce expert is crucial to this process. By revealing hidden assets and providing accurate valuations, they supply the essential information our attorneys rely on to argue for a distribution that genuinely reflects fairness and safeguards your financial well-being.
Why Choose Weiner Law for Your High-Asset Divorce?
When the financial stakes are high, you need a law firm with the resources and reputation to handle the most intricate cases. With a legacy of 37 years and a team of 61 attorneys across five New Jersey locations, Weiner Law Group has the depth of experience required to protect your interests.
Our full-service approach means we have knowledgeable professionals in various departments, allowing us to seamlessly address all your legal needs. This collaborative environment is invaluable when navigating the numerous issues that can arise in a high-asset divorce.
The repeated inclusion of our attorneys in publications such as The Best Lawyers in America demonstrates our firm’s reputation for excellence. We have built this reputation by focusing on our clients, understanding their goals, and advocating for the best possible outcomes. We are ready to handle every aspect of your case, from initial discovery to complex litigation.
Take the First Step Toward Financial Clarity
Navigating a high-asset divorce can be daunting, but understanding your financial situation clearly is the first step toward building a secure future. Contact Weiner Law Group today to learn how our dedicated team can help you move forward.