In this video, I discuss why a forensic accountant is critical during a divorce. I will show you how some spouses financially plan for divorce by hiding and understating assets and what you can do.

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A forensic accountant can help with the following:

1. Looking for hidden assets
2. Evaluating lifestyle inconsistencies
3. Determining personal expenses
4. Taking an inventory of valuables, including art collections, antiques,
collectibles, etc.
5. Appraising necessary assets and properties and
6. Helping you assess the long-term financial impact of a variety of
divorce settlement scenarios

Here are eight common methods used by spouses trying to conceal wealth:

1. They purchase items that could easily be overlooked or
undervalued.
2. They stash money in a safe deposit box, somewhere in the house or
elsewhere.
3. They underreport income on tax returns and/or financial statements. If
it’s not reported, it can’t be used in economic analysis.
4. They overpay taxes, suppliers or creditors. If your spouse overpays,
he can get a refund later after the divorce is final.
5. They defer salary, delay signing new contracts and/or hold
commissions or bonuses.
6. They create phony debt. Your spouse can collude with family
members and/or friends to establish phony loans or expenses.
7. They transfer stock. Your spouse may transfer stock/investment
accounts into the name of family members, business partners or
“dummy” companies. After the divorce is final, the assets can be
transferred back to them.
8. They sell assets such as homes, cottages and jewelry at below-market
costs only to related parties like family members or the new girlfriend
or boyfriend impacting asset value at divorce and recovering the
undervalued asset post-divorce.

About me: My name is David Malamed. I am an experienced forensic accountant and fraud investigator that has investigated, reported, testified and authored expert Forensic Accounting and Investigative reports accepted and used in civil, criminal and public inquiry proceedings.

Contact me at:
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Email: info@uncoverfraud.com
Call: 1(888) 777-4416


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