Imagine getting all of your financial records during the divorce process, including years’ worth of bank statements. This includes tax returns, credit cards report, reports from brokerages, pay statements, as well as other financial records.

You now have information on technical aspects.

You might have a few practical options.

Financial records might not always be available, however this doesn’t make matrimonial disputes more difficult. The issue lies when you need to find the documents that answer the most important concerns and also in determining if they’re not available.

Start with the question Then, not the Spreadsheet

A forensic accountant for white collar defense may approach financial discovery differently from someone simply organizing documents.

Imagine a situation where the dispute is about funds that are available to help. A tax return is useful however the owner of a business or an expert who receives a substantial amount of compensation could receive money in multiple ways. Compensation, bonuses, salaries and other types of compensation can require additional investigation based on the particular circumstances.

If there are assets that could be hidden, it is important to track them. Banking activity, transfer patterns and spending patterns, as well as the movement between accounts are all factors that can help you develop a fuller financial picture.

The purpose isn’t to accumulate all documents. It’s crucial to gather the required information needed to answer financial questions.

Business Ownership Changes the Discovery Process

The matrimonial process could be improved through a private firm.

To be eligible for New Jersey divorce business valuation, the company must have the relevant financial data. Depending on the engagement, an expert may need previous financial statements, tax information or ownership records, as well as other documentation relevant to knowing the company’s financial situation and formulating an assessment.

Problems can arise from incomplete information.

If you look only at the company’s revenue and do not take into account expenses, this is only one part of the financial picture. A single year’s performance may not tell the extent to which performance is normal or unusual.

SJS Forensics assists counsel by the identification of relevant documents, assisting create specific discovery requests as well as reviewing documents to ensure fullness and accuracy.

A few financial differences don’t necessarily mean there is something hidden

Divorce is a difficult and emotional process, and a transaction that is not well-known can quickly generate suspicion.

It’s not always clear which transfer was taken place. Unexpectedly large withdrawals may have a rational explanation. A seemingly mundane series of transactions could be worth further investigation when viewed in conjunction.

The objective analysis is important because forensic accounting should not start from the assumption that misconduct took place.

The data should guide the analysis.

Mediation Can be More Productive With Better Information

Financial experts typically are used in courtroom testimony however, they can be useful much earlier. Making clear the issues at issue before mediation is helpful when parties do not agree on the business value or income as well as other property issues or financial activity.

SJS Forensics is a forensic accounting firm that combines knowledge of forensic accounting along with an attitude of settlement. They are also able to participate in mediation of complex financial disputes.

If testimony is required, an expert witness accountant in matrimonial disputes will be able to understand the underlying analysis and explain it in a clear manner to attorneys mediators, judges, as well as other non-accountants.

The objective is to minimize the unknowns

A complicated divorce may contain thousands of financial transactions accumulated over the course of many years. It isn’t possible to achieve financial clarity by simply placing records in folders. It’s still up to someone to decide which documents are required, what questions remain unanswered and what additional information is needed.

It’s a practical benefit of forensic financial analyses. It’s not the goal to complicate a divorce by adding documents. The goal is to reduce the number of unanswered financial concerns when dealing with a complex case.