How experts can protect personal finances in a divorce

Jul 10, 2020 | Family Law

It is no secret that divorce can have an impact on a person’s finances. When two spouses divide assets between them, it can greatly change the financial picture for both of them. It is imperative that anyone planning to divorce here in North Carolina thinks about what their future financial needs may be and what goals they have in mind. They may need to turn to certain experts for help with this process. Here are some examples of different experts that can help people with their finances when they.

Some people may have valuable assets, but not know exactly what that values may be. An appraiser may be able to assist with valuing a business, fine jewelry or other items. Many appraisers are also forensic accountants, who can assist with other financial matters. Forensic accountants can assist with determining a person’s precise income, tax benefits and liabilities. This may be particularly important for those who have to pay spousal or child support.

For some people, their regular accountant will be able to fill this needed role, but it will depend on the accountant’s specialty or expertise. A regular accountant may be perfectly able to help a person determine what assets are premarital or marital property. This distinction may be very important for some people, as premarital property may not be subject to division in a divorce settlement.

Many people may not know where to find these experts, or whether the ones they manage to locate are reliable. A good way to find a quality referral is through one’s divorce attorney. Many attorneys here in North Carolina have a network of financial experts that can help those undergoing divorce proceedings. They can help a person ensure that their divorce settlement is fair and properly meets their needs.