Imagine receiving years of bank statements as well as tax returns, credit card records or statements from brokerages, wage reports, and financial documents when you divorce.

Now you have the technical details.

Practically speaking, you might have very few answers.

The matrimonial court case isn’t always easy because financial records aren’t always available. Sometimes the challenge is determining which documents answer the questions which are relevant and recognizing when important pieces are still missing.

Start With the Question, Not the Spreadsheet

The financial discovery process of divorce forensic accountants in New Jersey will differ from that of an individual who is simply organizing papers.

Imagine that the dispute is involving the income that is available to provide support. Tax returns are helpful, however the owner of a business or a highly compensated professional might receive money in many ways. Bonuses, salaries, distributions and various other forms of compensation may require further examination, based on specifics of the.

If there is a question about assets that may not have been disclosed, then various records could be relevant. Bank activity, transfers, expenditure patterns, and the movement between accounts may help to create the complete picture of finances.

It’s not about collecting every single document you could think of. The objective is to collect the required documents needed for answering certain financial inquiries.

The Discovery Process is altered by the ownership of a business

Privately held companies are a great supplement to the matrimonial search process.

A business valuation to be used in divorce in New Jersey requires appropriate financial details about the business. According to the nature of the transaction the appraiser may require the historical financial statements, tax information along with ownership records and other documents relevant to comprehending the business and forming a valuation opinion.

Problems can arise from incomplete information.

If you look only at the profits of your business and do not take into account expenses, this is just a part of the financial picture. One year’s performance might not be indicative of the typical or outstanding performance.

SJS Forensics helps counsel by making sense of relevant documents, preparing specific discovery requests, as as examining the documents produced for accuracy.

A few financial differences don’t necessarily indicate that there is something else going on.

A divorce is a difficult process, and a transaction that is not understood can lead to suspicions.

The purpose of a transfer may not be determined until the records are consulted. Inexpensive withdrawals can be explained by a common cause. A seemingly routine set of transactions might be worth a closer look at when taken in context.

The objective assessment is important, because forensic accounting cannot start by assuming that there has an error.

Records are the best starting base for an analysis.

Mediation can be more effective by providing more information

Financial experts are usually used in court but the most effective analysis can start much earlier. If parties aren’t in agreement about the value of their business, their the value of income, property that is separate, or unusual financial activity clarifying these issues prior to mediation can help define what’s being argued.

SJS Forensics combines forensic accounting expertise with a settlement-minded approach and can be a mediator to help address complicated financial queries.

When testimony is necessary, an expert witness accountant for matrimonial litigation must be able to take the underlying analysis and explain it clearly to attorneys, mediators, judges, and other non-accountants.

The goal is to eliminate the mystery

A complex divorce could contain many financial transactions that were accumulated over many years. The process of achieving financial clarity cannot be accomplished by simply placing records in folders. It’s still up to someone to decide what documents need to be kept, what queries remain unanswered and what additional information is needed.

That’s the benefit of forensic financial analysis. The aim isn’t making a divorce more complicated by producing another enormous stack of paperwork. You’re trying to decrease the number of unanswered questions you have in a financial situation that is complicated.