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Divorce/Separation Post Reply     Print Topic    
User Topic: forensic accountant
karen49
♀ Member
Member # 18234
Default  Posted: 5:02 PM, August 8th (Friday), 2014View ProfileEdit MessagePrivate MessageHomepage

Anyone out there who has used a forensic accountant?What we're the fees?

Posts: 308 | Registered: Feb 2008 | From: east coast
betrayedpregnant
♀ Member
Member # 43304
Default  Posted: 7:26 PM, August 8th (Friday), 2014View ProfileEdit MessagePrivate MessageHomepage

I think it would depend on what they're investigating. Is it just individual expenses? Is it a business? How big is the business? Is it owned by the person only or with others as well? How long a time span?

Posts: 307 | Registered: May 2014 | From: Hawaii
GreatRoleModel
♀ Member
Member # 36809
Default  Posted: 10:43 PM, August 8th (Friday), 2014View ProfileEdit MessagePrivate MessageHomepage

My neighbor did because millions were at stake. It cost her $25,000 for the assessment. This was done for the private company XWS ran and he was the sole owner but she ran the books the first few years before kids.

[This message edited by GreatRoleModel at 10:45 PM, August 8th (Friday)]


BS (me)
XWS (him) NPD
DIVORCED!!!
It takes a village to deal with the village idiot!
“If we couldn't laugh we would all go insane.”
― Robert Frost

Posts: 391 | Registered: Sep 2012 | From: NC
stronger08
♂ Member
Member # 16953
Default  Posted: 2:27 AM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

I am a big proponent of forensic accounting. Especially when it comes to a WS attempting to hide assets. Yet like everything else D related it must be cost efficient to pursue. A FA usually charges by the hour and the bill can add up very quickly. As the other member mentioned the cost is really related to the task at hand. Bottom line is not to spend a dollar to get back fifty cents. But spending a buck to get back two is certainly a wise investment. Use your common sense when deciding. If you have a WS who consistently was financially sound and had a good income suddenly becomes destitute during the D process without logical explanation or if large sums of marital assets miraculously disappear I think its time for a FA. Good luck and make sure you check out the FA before hiring. Like any other professional, you want to make sure you get what your paying for.


You cant eat soup with chopsticks.

Posts: 5825 | Registered: Nov 2007
crisp
♂ Member
Member # 34236
Default  Posted: 5:46 AM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

What Stronger said. In a previous life, I hired accountants to review the books of failing/failed companies. The level of review and type of accountant hired depended on a lot of factors. The three posts above make very good points on both possible scope of review and costs. What is the situation that has you thinking about such an examination?


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 448 | Registered: Dec 2011 | From: NE US
Thefly559
♂ Member
Member # 40268
Default  Posted: 6:44 AM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

just gave a $5000 retainer $400/hr in nyc good luck


"what does not kill you , makes you stronger"

Posts: 706 | Registered: Aug 2013 | From: nyc
karen49
♀ Member
Member # 18234
Default  Posted: 7:50 PM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

He had his own business with partners which he sold prior to or maybe during the affair,he now lives a lifestyle that doesn't support his current income,which just doesn't add up.Everyone asks how he does it...bought a very expensive house,a boat,.all new furnishings etc.He currently makes about the same as me and I can't live like that

Posts: 308 | Registered: Feb 2008 | From: east coast
stronger08
♂ Member
Member # 16953
Default  Posted: 9:14 PM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

He could be running up his credit with these purchases. I'm sure you have his SS #, run a credit check and have a look see. If he has no outstanding debt he most likely is spending money from his sale of the business. Of which you are entitled to a percentage. Have you reached the financial disclosure stage for the D yet ? If not I suggest you get a lawyer to file a motion forcing him from spending the marital assets ASAP. If he is using marital assets to buy a home and furnish it your entitled to a piece of those also.


You cant eat soup with chopsticks.

Posts: 5825 | Registered: Nov 2007
whiteflower99
♀ Member
Member # 13937
Default  Posted: 9:41 PM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

This is what I want to do. I want to specialize in infidelity cases. Good luck!!


What are you pretending not to know?

me FBS
him idiotic sex addicted, hormone addled, porn watching, post pubescent male with a walking hard on for anything without a penis
4 kids 15 13 12 8
Earned my *F* the hard way; no longer defining mysel


Posts: 1777 | Registered: Mar 2007 | From: Greensboro, NC
wk55hn
♂ Member
Member # 44159
Default  Posted: 10:00 PM, August 9th (Saturday), 2014View ProfileEdit MessagePrivate MessageHomepage

Have you checked your own credit report recently?

Posts: 520 | Registered: Jul 2014
crisp
♂ Member
Member # 34236
Default  Posted: 6:12 AM, August 10th (Sunday), 2014View ProfileEdit MessagePrivate MessageHomepage

Stronger- It is illegal to run a credit report on someone without their consent and inquiries produce trails. There are ways to get it, but she should be careful.


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 448 | Registered: Dec 2011 | From: NE US
crisp
♂ Member
Member # 34236
Default  Posted: 7:03 AM, August 10th (Sunday), 2014View ProfileEdit MessagePrivate MessageHomepage

Karen- In order to do any sort of forensic exam you have to have access to the raw data. Do you or your attorney have a plan for getting access to what you would need? Probably the best way would be through the "discovery" process in your divorce action. The Rules of Civil Procedure provide mechanisms for him to supply what he has/has access to and for 3rd parties to produce material and be subject to testimony by subpoena.

This part of it should not be done expect under a carefully laid out plan or it could get very expensive with both the attorney and the accountant. Ask your attorney to orchestrate a "discovery conference" under the Rules so the judge knows what you are after and what document needs there will be.


Endeavor to persevere. https://www.youtube.com/watch?v=csEzTwKemwY

Posts: 448 | Registered: Dec 2011 | From: NE US
Topic Posts: 12

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