THROUGH THE EYES OF A FORENSIC ACCOUNTANT'S POINT OF VIEW
HOST: Beverly Price, Divorce & Empowerment Coach
GUEST: Tracy Coenen, Forensic Accountant and Fraud Coach for Divorce
SUMMARY:
Are you worried about hidden money and concealed assets in your divorce process or are you entangled in a complex financial situation where transparency is crucial? Navigating these circumstances can be overwhelming, leaving you with questions about the whereabouts of undisclosed funds, the total value, and the extent of expenditures. Getting a clear picture of your financial situation and seeking professional help to address these concerns is essential in ensuring a just and equitable settlement and the much-needed peace of mind during this challenging period. In this episode of Her Empowered Divorce, your Host, Beverly Price, talks to Tracy Coenen, Forensic Accountant and Fraud Coach for divorce. Together, they discuss how you can find hidden money in your divorce, how to identify red flags, and the nontechnical ways to gain insight into your financial situation independently.
Divorce doesn’t have to be a death sentence. With the right support and guidance, you can move through the process with knowledge, skills, and confidence. If you’d like to schedule a complimentary private consultation, reach out to Beverly at: https://beverly-price.as.me/Consultation.
● Knowledge is power, and you should not sign a settlement without having a clear picture of your financial situation. Even if you are not suspicious and want the divorce over with, you still need all the facts before you sign the settlement agreement because you only have one chance to get the right settlement.
● “I just wanted to be done” is a common statement after divorce that often comes from the biggest mistake most women make: letting the emotions hijack them to the point of throwing off their hands, taking whatever is on the table, and settling it.
● “Let's save money. We don’t need an attorney.” When your spouse tries to rush you into the agreement without an attorney, this is a big red flag. You need someone on your side to help you evaluate things objectively.
● There is a whole laundry of red flags, but some of the most common in a divorce situation is a behavior change, which could be a change in schedule and whereabouts, how they are spending money, how they are paying for things, and not giving you access to money and financial information.
● If you are thinking about filing a divorce, the first thing you should do is to gather information. Information is your friend; get all the statements for your joint accounts before you say anything to your spouse.
NOTABLE QUOTES:
● You might trust your spouse and think that those couple of accounts you don’t have the statements for aren’t a big deal, but why is he not disclosing the statements to you if they weren’t a big deal and there is nothing to worry about? (Tracy)
● Money and finance are the biggest concerns for people in divorce, and one of the biggest expenditures is going to be for your attorney, but b
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