In some cases, you may need to turn to a forensic accountant as you file for divorce. This is a professional who will be hired by your family lawyer to investigate the assets of your ex so that your family lawyer can argue for a more equitable division of your assets. 

How Forensic Accounting Works

Forensic accounting is essentially accounting that takes place within a legal context. There are various documents that a forensic accountant might look at including:

• Sales invoices
• Financial statements
• Bank statements
• Accounting records
• Business contracts
• Financial projections

By examining these records, you may be able to determine if your partner is hiding records. Then, your family lawyer can take steps to fight for your rights under divorce. But even if your partner is not hiding assets, your attorney might work with a forensic accountant because this simply makes the process of filing for divorce less complicated.

How Your Attorney Works with the Forensic Accountant

In Canada, you will need to have your assets divided based on federal, provincial, and territorial laws. Therefore, you will need a family lawyer familiar with your province so you can be prepared for how the court will divide your assets. Whether you are married or in a common-law relationship also affects how your assets will be divided.

Common-Law Vs. Marriage

Oftentimes, the assets you are able to keep will be those that you purchased yourself. However, if you helped your partner purchase assets or if you helped your partner maintain them, you will be entitled to a portion of these assets. However, if you do not agree with the division of assets, you may be able to fight this in court. A divorce lawyer will be able to represent you.

For marriage, you will divide equally all of the property that you acquired during your marriage regardless of whether you paid for it or not. The courts can divide your property for you or you may disagree and come up with a different method of division with your partner. How the property is divided is also affected by provincial law.

Prenuptial Agreements

In Canada, you are allowed to enter into a marriage contract before your marriage that allows you to decide how your property will be divided if you decide to get divorced. However, the courts might decide to not abide by the contract if it is considered to be unfair. If this is the case, you may need to fight a legal battle with the help of your lawyer.

Reach out to a family lawyer to learn more.