If your spouse has been financially unfaithful, you are probably itching to leave him or her behind and start the next phase of your life. You cannot move on until your divorce concludes, though. Regrettably, financial infidelity can both complicate your divorce and cause it to drag on longer than it should.
According to Psychology Today, financial infidelity happens when one spouse lies about money, hides assets or disguises debts. If your soon-to-be ex-spouse cannot be truthful about money matters, you may have little choice but to hire a forensic accountant.
What does a forensic accountant do?
Because your spouse has a record of being untruthful when it comes to finances, you simply cannot trust him or her to change. A forensic accountant helps you level the playing field. Specifically, this type of accounting professional can assist you with the following:
- Finding missing assets
- Discovering undisclosed debts
- Analyzing financial discrepancies
- Uncovering potential fraud or other crimes
- Appraising marital and separate assets
Can you afford a forensic accountant?
As you probably expect, the services of a forensic accountant can be quite expensive. As the spouse who is alleging financial deception, you probably have the obligation to pay for the forensic accountant. Doing so, of course, may require some financial acrobatics.
Still, because the accountant’s findings may increase your chances of receiving the outcome you deserve, it is advisable to find space in your budget for one. Your attorney can recommend strategies for mitigating the costs of forensic accounting.
Ultimately, though, it is virtually impossible to put a price tag on the peace of mind you achieve from better understanding your marital finances.