Forensic Accountants “Bring the Goods” to Divorce Lawyers

The Forensic Accounting Deskbook by Miles Mason, Sr. JD, CPA, published by the ABA Family Law Section

“Every experienced family lawyer has ‘war stories’ in which a forensic accountant has saved a divorce case. If not, that family lawyer has lost cases that could have been won with one,” says Miles Mason, Sr.

For a much more detailed discussion, see The Forensic Accounting Deskbook: A Practical Guide to Financial Investigation and Analysis for Family Lawyers, Second Edition, authored by Miles Mason, Sr. and published by the ABA Family Law Section.  This updated edition of one the ABA’s most popular resources explains the practice of forensic accounting and business valuation and how to apply it in family law cases. It provides a practice-focused introduction to the core financial concepts in divorce, such as asset identification, classification, and valuation, income determination, expenses, and more.

VIDEO TRANSCRIPT:

Tracy Coenen:             Why is a good accountant required as an expert witness?

Miles Mason:              Primarily, forensic accountants can provide information in the form of an opinion. They can also rely on hearsay. Many of the documents that we’re reviewing in lawsuits, whether it be a criminal or civil case, are document-based. So therefore, as an expert witness, that opinion can be formed, the expert can rely on hearsay, and without that evidence, there may be no other way to present a case. I mean, it’s that important.

Tracy Coenen:             What are some of the qualifications that you would look for in an expert witness in a case?

Miles Mason:              Aside, obviously from the need to have the appropriate credentials, education, training, experience, what I’m looking for is an expert that can explain complex ideas in a very simple, common sense sort of way. I’m looking for an expert that can answer questions and sentences with 10 words or less, and I’m looking for experts that can communicate to a normal, common, regular person.

Thank you to Tracy Coenen, CPA, CFF for inviting me to join her in this video series. Tracy is a nationally recognized forensic accountant practicing in Milwaukee and Chicago.