Louisville Forensic Accounting Lawyer

Forensic Accounting Attorney in Louisville, KY

Divorce can be one of the hardest events in a person’s life, with countless personal, professional, legal, and financial concerns. During the proceedings, financial records can be confusing and overwhelming to review and collect on your own. A Louisville forensic accounting lawyer can help you navigate establishing the financial status of all parties and uncover any hidden assets.  

About Us

Straw-Boone Doheny Banks Mudd Catalano & McKinney, PLLC, has spent years assisting the people of Louisville, Jeffersontown, Winchester, and cities throughout Kentucky and Southern Indiana. Our team has decades of combined experience handling hundreds of cases, ranging from simple collaborative separations to complex high-value divorces involving deceit. We are compassionate advocates who can help clarify financial matters in your case.

Overview of Divorce Cases in Kentucky

Divorce is a common type of family law case that many Americans go through every year. The divorce rate in Kentucky is 2.9 per 1,000 residents, higher than the national average of2.4 per 1,000 people. These cases are difficult when spouses work together, and grow exponentially more challenging when one party lies to the other.  

Divorce cases that require forensic accounting often require strict court oversight. These cases in Louisville are processed at the Jefferson County Judicial Center, located at 700 West Jefferson Street in Louisville. 

What Is Forensic Accounting?

Forensic accounting is the process of combining legal, accounting, and investigatory skills to track finances and establish accurate data. Forensic accounting lawyers are used across many fields, including criminal investigations, bankruptcy petitions, civil claims, and family law matters. 

Forensic accounting lawyers are essential resources in divorces where financial records are partial or confusing.

Hire a Forensic Accounting Lawyer

Forensic accounting requires a deep knowledge of accounting, finances, and family law. During this trying time, hire a forensic accounting lawyer to help you establish a truthful baseline for divorce discussion. 

A few things that your Louisville forensic accounting attorney can do for your case include:

• Organize records. Your lawyer can review your finances and organize them to identify discrepancies or find missing information. 
• Trace funds. A large part of forensic accounting is tracing funds through different accounts. Experienced legal counsel can discover the pathway assets took and uncover potentially undisclosed entities.
• Evaluate property. One common point of contention in divorce proceedings is the true value of assets. Forensic accounting attorneys can properly evaluate the market value of personal and business property to avoid inaccurate claims.
• Reconstruct destroyed or incomplete records. Forensic accounting attorneys work to piece together missing financial records to reveal the real financial picture.
• Calculate child support or alimony. With new information, a lawyer can calculate new child support or alimony and maintenance amounts that align with reality. 
• Prepare financial documents for the court. They can organize complicated financial information into clear and legally compliant records. 
• Representation in court. Even with clear evidence, it can be daunting to appear in court and present your case. Our legal team can represent you in all hearings and discussions, both in and out of court. 
• Appeal previous rulings. In some cases, you may suspect that your finalized divorce was based on false information. An attorney can assist in appealing a decision and obtaining an agreement based on the true financial standings of both parties.

FAQs About Forensic Accounting Law

Is It Worth It to Hire a Forensic Accountant in Kentucky?

In Kentucky, it can be very worthwhile to hire a forensic accountant when going through a family law case and requiring additional assistance in gathering complete financial information. Forensic accountants are experienced in reviewing records, finding discrepancies, and establishing the true value of assets in question. They may be useful when your ex-spouse is lying about their financial standing, or when you are managing complex finances.

How Much Does a Forensic Accounting Attorney Cost in Kentucky?

How much your Kentucky forensic accounting attorney costs depends on the complexity of your situation and the work hours it requires. Simple estates with straightforward documentation are typically cheaper than cases involving complicated interconnected networks of accounts and trusts. 

Another contributing factor to the price is the billing structure, with various firms using flat fees, retainer expenses, or hourly rates. Your lawyer can provide an estimate for your total legal costs in your initial consultation. 

What Is a Red Flag for Hidden Assets in a Forensic Accounting Case?

There are a variety of details that appear as red flags in forensic accounting cases. One common suspicious behavior is a sudden increase in spending shortly before a divorce or early in the proceedings. Another red flag for forensic accountants is a large volume of fund transfers between accounts. A third detail to look out for is the establishment of new trusts, especially self-settled irrevocable trusts.

What Is the Penalty for Hiding Assets in Kentucky?

The penalty for hidden assets in Kentucky depends on the level of fraudulent behavior and nature. In some cases, judges may deem it as contempt of court, resulting in fines, restitution paid to the other spouse, and jail time. In more extreme cases, it may be prosecuted as perjury of the second degree, resulting in a Class A misdemeanor with $500 in fines and imprisonment of one year. 

Can a Forensic Accounting Attorney Help Closed Cases in Kentucky?

One frequent concern many have is whether a forensic accounting attorney can help in Kentucky family law cases where a final agreement has been reached. In these scenarios, a lawyer can still aid you. Agreements made using false or fraudulent information can be overturned with ample evidence. If your case involves hidden assets, you can still obtain justice.

Speak With a Louisville Forensic Accounting Attorney Today

Straw-Boone Doheny Banks Mudd Catalano & McKinney, PLLC, recognizes how daunting financial investigation and organization can be to handle on your own. Our skilled team is prepared to aid you at each stage of your case. 

Contact us today to book your initial consultation with a Louisville forensic accounting lawyer. You may also visit our downtown Louisville office, located on West Main Street, a few blocks from Jefferson County District Court, and a few blocks south of the Ohio River.