Experts You May Want to Hire During Your Divorce

 Posted on December 26, 2016 in Divorce

If you are considering or are in the process of divorce, you may be overwhelmed with the actions you must perform. However, you do not need to do it all alone; there are professionals and experts who can help you throughout each step of the process. Moreover, a skilled divorce attorney can help you to identify the types of professionals that will be beneficial for your circumstances. 

Valuation Experts

Valuation experts can be some of the most important experts hired during a divorce. A large part of the divorce process is dividing assets between spouses. However, before you can divide assets you need to know how much they are worth.

For many assets, their worth is relatively clear—items such as stocks or bank accounts have an easily discernible value. Yet with other assets, especially if one or both spouses own a business, a valuation expert is needed to make sure that the value of the business is accurately understood.

Forensic Accountants

A forensic accountant is similar to valuation experts in that his or her job relates to the valuing of assets. However, a forensic accountant is especially helpful in cases of suspected fraud or when you suspect that assets may be hidden. Forensic accountants will go through finances and be able to identify if something seems strange.

Tax Experts

Tax experts can be extremely helpful, even in amicable divorces, because many of the decisions made during a divorce may have tax consequences. While a qualified divorce attorney will have an understanding of common tax consequences of divorce, there may be special situations that require a tax expert.

The IRS has special rules about divisions and sales of property subsequent to divorce. Therefore, if you have a business or other high valued assets, it will be worth it to hire an expert who specializes in taxes to make sure that no unnecessary taxes are paid and that both parties understand their tax obligations.

Reach Out to Us for Help Today

While you may or may not end up hiring different professionals throughout the course of your divorce, it is crucial that you begin by contacting a knowledgeable divorce attorney to help you figure out what other professionals you need on your side. Our DuPage County divorce attorneys at Davi Law Group, LLC can assist you with all aspects of your divorce.

Sources:

http://www.forbes.com/sites/jefflanders/2014/09/04/why-a-forensic-accountant-belongs-on-your-divorce-team/#61fd7abf3113

http://www.huffingtonpost.com/gobankingrates/40-secrets-only-divorce-a_b_8602766.html