Role of Forensic Accounting in Atlanta, GA High-Asset Divorce Cases
Getting a divorce will likely be the most emotionally challenging time that you will experience. However, it can be even more difficult if you own properties that are high in value, as you may need to get them appraised and properly classified as either marital or non-marital assets. The role of forensic accounting in Atlanta, GA high-asset divorce cases is to provide their expertise in determining the proper value of all properties, so the court can divide them in a fair manner.
At the Atlanta Divorce Law Group, our attorneys work with skilled financial professionals to make sure that everything is accounted for and accurately assessed. With their help, we can advocate for an outcome that gives you peace of mind.
Finding the True Value of Your Assets
A divorce involves more than just splitting up the money in your checking account. Your business interests, retirement accounts, investment portfolios, or real estate must also be included. If these assets make up a significant portion of your net worth, a forensic accounting expert may be needed to help an Atlanta, GA family court deal with them in a divorce.
This is because under the Official Code of Georgia Annotated § 19-5-13, judges must apply the principle of equitable, or fair distribution when dividing marital property. This may not necessarily be an equal 50/50 split, and disputes about undervaluation or hidden assets are common. That is why an expert accountant may be needed to review tax returns, business statements, and financial records to determine the property’s true value.
Property Classification and Financial Transparency
Whether an asset is marital or separate property is also a frequently contested issue in a divorce. Under O.C.G.A. § 19-3-9, assets owned before the marriage or received through gifts or inheritances are usually kept out of the process, but there can be confusion when marital and non-marital funds are mixed together.
A professional accountant can step in to trace the funds and clarify the origin during a high-value property divorce in Atlanta, GA. For example, they can determine what portion of the funds should be separated if one spouse’s premarital savings were used to help run the family business.
How Is Support Determined in a High-Asset Divorce?
In Atlanta, GA divorce proceedings, the function of a forensic bookkeeper goes beyond dividing high-value properties. Their input can also help the court with post-divorce support for the children and the other spouse. Georgia family courts use statutory guidelines to calculate child support, but the judge has discretion to adjust the amount if the parents have a high combined monthly income. A full accounting of the parents’ earnings can help the judge with this task.
Financial experts can also demonstrate one spouse’s need for support based on their contributions to the household, or if they have a lower earning potential. Our legal team can use these insights to present a clear picture of the financial circumstances and advocate for a fair decision.
If You Are Thinking About Using a Financial Specialist In Your Divorce, Speak With an Atlanta, GA Divorce Attorney
The real role of forensic accounting in Atlanta, GA high-asset divorce cases is to provide clarity and transparency to ensure an equitable division of property. Our firm is committed to safeguarding your financial future, so we work with trusted accountants and use every available legal tool to protect your rights.
Divorce is never easy, but we are here to support you throughout the process. Call the Atlanta Divorce Law Group today to meet with a member of our team and learn how we can help you move forward with your life.
