The Role of Forensic Accounting In a High-Asset Illinois Divorce

 Posted on June 15, 2025 in Property Division

Not all marriages end in a peaceful, amicable way. Sometimes, couples dispute over assets and debts, and if you and your spouse have a significant asset portfolio, the risk of hiding or dissipating assets is greater. Forensic accounting is an invaluable tool in ensuring the disclosure of all assets. Consider how a forensic accountant can help you during a high-asset divorce, and contact an experienced Plainfield, IL high-asset divorce attorney to learn more.

What Is Forensic Accounting?

Forensic accounting refers to the use of accounting skills to analyze financial information for legal proceedings. In the context of a divorce case, forensic accountants will typically use their skills to locate hidden income and assets. They use financial documents like tax returns, bank statements, real estate records, insurance policies, and more to do their job. During a high-asset divorce, they can also be a helpful expert witness, helping to ensure that all assets and income are accounted for to be divided and distributed according to Illinois law. 

How Is Forensic Accounting Useful in a High-Asset Divorce in Illinois?

The primary reason that people hire a forensic accountant during divorce proceedings is to identify hidden property. For example, if you have a strong suspicion that your spouse could be hiding marital assets or income to ensure they are not divided, a forensic accountant can help you find those assets. Other ways that forensic accounting can be helpful in a divorce include:

• Valuing assets: High-asset divorces often include the division of complex property like businesses, real estate, and investments. Forensic accountants can assist in valuing those assets accurately.

• Calculating support payments: If either spouse will need to pay child support or spousal maintenance payments, a forensic accountant can help calculate the amounts based on Illinois law and complex income information.

• Cleaning up bookkeeping: Commingled assets can make the property division process much more complex, but forensic accountants will analyze records to help determine what is separate and what is marital.

• Providing testimony: During the trial, a forensic accountant can provide expert testimony, supplying the judge with critical information needed to help them make a final decision.

• Reviewing the opposing counsel’s reports: When both spouses hire accountants, they can review each other’s reports and counter findings if appropriate.

• Identifying potential liabilities: Dividing some assets can have significant tax implications in both the present and future. A forensic accountant can explain those implications and potential ways to avoid them.

Every case is different, requiring unique considerations, but overall, a forensic accountant can offer several valuable skills during divorce proceedings. Hiring one can be expensive, but the reward often outweighs the cost.

Talk to a Lombard, IL High-Asset Divorce Attorney To Learn More

As you navigate the complexities of property division in a high-asset divorce, you will see the value of forensic accounting and how it can be used to protect your right to a fair divorce settlement. The Bloomingdale, IL property division lawyers at The Law Offices of Robert F. Kramer, Ltd. have over 40 years of experience helping people navigate family law issues. When emotions are high, we are there to offer support and objective legal advice. Call 630-785-2400 to schedule a free 30-minute initial consult today.