The Importance of the Certified Public Accountant (CPA) During A Divorce

Having a Certified Public Accountant (CPA) assist in the litigation of a family law dispute may help the divorce attorney hit a “home run” for their client.  Whether the parties are litigating child support, spousal support, or the division of marital property, a CPA may prove invaluable in helping to assess the claims.  The tasks we often utilize qualified CPAs services for include:

• Pension Valuation
• Forensic Review of Financial Information
• Forensic Review of Business Transactions (to determine whether the business is paying personal expenses and the amount of such payments)
• Assistance in Determining the parties income and expenses
• Locating hidden assets (Asset tracing)
• Business Valuation
• Assistance with the discovery process
• Assistance in dividing stocks equitably
• Tracing separate property
• Tax Issues from Divorce

Many clients often believe that they simply can’t afford a CPA to be involved in the process.  However, the efficient use of a CPA may help maximize what they can possibly recover in the family law litigation.  We believe this is especially true when one of the parties owns a business or there are complex assets to be divided or a suspicion that some assets are hidden.

The accountant that is selected should possess the unique skills and abilities necessary to assist family law attorneys and their clients in litigation. We have utilized the services of CPAs in a number of ways including as consultants, preparation of reports, expert witnesses and even attending mediations with us.

A CPA engaged in a family law case often performs specific detailed analyses, prepares exhibits and forensic reports, attends depositions of the parties and/or witnesses, attends hearings, mediations, and conferences, and testifies as an expert witness under deposition and/or trial. Whether hired as a consultant or expert witness, an important role the forensic CPA plays is translating complex financial information into a form that is better able to be understood.