When you and your spouse bring large assets into a divorce, the stakes grow fast. South Carolina divides marital property through equitable distribution. This typically results in equal division unless specific factors justify a different split.
A business, a professional practice or years of mixed investments can complicate that process significantly. A forensic accountant gives your legal team a clear financial picture that your case may need.
What your financial picture may already be signaling
Your financial situation may raise questions that a standard review alone cannot answer. These five situations often point toward the need for a forensic accountant:
- You or your spouse own a business or professional practice: Under South Carolina law, marital business interests fall under equitable distribution. How the business is valued can change the outcome significantly.
- Your income includes sources beyond a regular salary: Bonuses, distributions and business income are harder to verify and easier to time before a filing.
- Your lifestyle does not match your tax returns: State courts factor in how you lived while married. A forensic accountant can trace actual income based on how you spend.
- Your personal and shared assets have mixed: Mixing separate property with marital funds over the years can put its protection at risk.
- Your spouse controlled most of the financial records: Gaps or inconsistencies make it harder to confirm what belongs in your shared pool of assets.
Any one of these factors can create real gaps in what a standard financial review uncovers.
What equitable distribution actually means for your bottom line
South Carolina courts consider different factors to divide marital property. A forensic accountant can support your attorney on several of those factors, such as your economic position and your financial contributions to the marriage.
If you own a business, the distinction between personal goodwill and enterprise goodwill matters. The state treats personal goodwill as separate property. Enterprise goodwill tied to the business itself can fall into the marital estate. The difference between the two can represent a significant sum.
Do not let complexity work against you
In any high-asset divorce, facing complicated financial situations is not unusual. Working with legal counsel, a forensic accountant can provide real protection. That work gives your legal team accurate, verifiable figures to bring into court. Your financial future deserves that level of support.