Role of the Accountant in Amicable Divorce
Frequently Asked Questions About the Role of an Accountant in a Divorce
- Why Divorcing Spouses May Want to Utilize an Accountant in a Divorce?
- In What Ways Can an Accountant Help a Divorcing Couple?
A Certified Public Accountant familiar with the divorce process can help in many ways. Since divorce can be a very stressful time in life of a separated parent, the accountant can provide useful information in a neutral manner so that the process can proceed as smoothly and quickly as possible, with the least amount of stress and animosity. The mission of the accountant is to find equitable, efficient, amicable and creative solutions to your current and future financial position.
Utilizing a CPA who handles cases in the divorce arena saves time throughout the process, especially at the beginning. The accountant can guide you in regaining control of your financial situation through education. Your uncertainty about the divorce process can be alleviated by a more detailed knowledge of your finances. ^TOP
In What Ways Can an Accountant Help a Divorcing Couple?
- The accountant can help your attorneys and you in:
- Gathering and organizing financial data for your attorney, thereby saving legal time
- Communicating with attorneys, if necessary
- Preparing expense analysis and allocation for high-income cases
- Clarifying financial inconsistencies
- Identifying potential marital credits and reimbursements
- Organizing financial papers and electronic files
- Analyzing investments, current and post-divorce
- Determining marital/non-marital characterization of investments
- Locating hidden assets
- Analyzing investments in comparison to pre-nuptial agreements
- Independent financial mediating between divorced/divorcing parties.
- Developing budgets for post-divorce financial positions
- Educating clients as to financial basics
- Determining need for additional financial specialists^TOP