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Forensic accounting helps resolve estate problems

On Behalf of | Dec 27, 2021 | Estate planning

Forensic accounting is well known among business owners because of the rise in identity theft. An experienced accountant in Delaware can investigate fraud in your estate. Forensic accounting is one method of investigating and resolving an estate-related dispute outside of court.

Benefits of forensic accounting

Forensic accounting is the use of accounting, business auditing and criminal investigation skills to evaluate a person’s finances. This accountant is often called when fraud or embezzling is suspected or to ensure the integrity of an estate or trust.

If a financial crime is found, a forensic accountant informs the estate owner immediately and initiates the next steps to correct the wrong action. This may or may not involve contacting the police at the client’s request.

Help with estate resolutions

Forensic accounting assists in alternative forms of dispute resolution regarding your estate. This is the faster, easier solution to going to court and discussing the case openly. A forensic accountant is not an arbitrator or mediator, but you’ll need this accountant to perform an investigation and go over the investigative report. This accountant is needed at arbitration or mediation to discuss the findings with the estate owner and each of the beneficiaries. The accountant helps to resolve any problem with the estate and make sure that every person is in agreement.

Go to an accountant to avoid court

Forensic accounting goes beyond reviewing your financial accounts for errors. It’s recommended to audit your estate planning documents for misuse of funds and suggest an investigation into any fraudulent activities. A forensic accountant works on your own terms and knows the next steps to take when a problem is found. Working with one is recommended to help resolve an estate problem that occurs.