How A.I. is Changing The Way Hidden Assets Are Located in Divorces (Pt 1)

Forensic accountants use A.I tech to search for hidden assets in contentious divorces.

 

Usually, when you hear about artificial intelligence, it’s because you just watched a good (hopefully) sci-fi movie. Or maybe you just read an alarmist article about how the future of the human race is uncertain, due to the development of new robotics technology. What you don’t usually think about is divorce. Why? Because A.I. and divorce tend to be chocolate cake to your designer shoes, or houseplants to your BBQ. In other words – two things that have nothing to do with each other. Right? Well, as it turns out, that isn’t quite true anymore.

 

What could A.I. possibly have to do with divorce?

Part of why the idea of A.I. having anything to do with your divorce sounds really weird, is because you probably have the wrong idea about A.I. really is. For starters, it’s used everywhere, in everything that has anything to do with modern computing technology. A.I. helps determine what you might like to buy next, based on your previous purchases, or what music you might want to listen based on what you’ve already listen to. (Think Amazon!) It’s also in your phone’s GPS, helping you navigate, and in your email account, trying to detect incoming spam. Oh, and remember the last time you asked Alexa about the weather? You were using A.I.

 

What exactly does a forensic accountant do?

 

Now let’s take a look at forensic accounting. Ever wondered what it is exactly?  Well, forensic accounting is accounting used in a legal setting. And what does a forensic accountant do? Lots of things:

  • Searches for hidden assets and hidden income,
  • Corroborates financial information with non-financial information,
  • Tracks the financial history of assets, purchases, and investments
  • Performs valuations of businesses
  • Determines cash flow and personal worth
  • Provides testimony during trial

 

So how is A.I. tech helpful during divorces?

 

A.I. is now being used in all sorts of fields, including accounting and financial record keeping. As a result, what used to take a forensic accountant weeks, if not months to sort through (depending on the complexity level of the financial records), can now be done in a much shorter period of time! Where before all the data had to be analysed by a person, which is labor intensive and subject to a greater number of errors, it can now be done by a computer in a fraction of the time!

 

Talk to your divorce attorney about the need for a forensic accountant.

 

Forensic accountants are not like regular accountants. They specialize in a very specific area of accounting, and therefore don’t get used in every divorce. If you and your spouse have a complex or extensive financial portfolio, your divorce lawyer will probably need help from a forensic accountant. If you or a loved one are considering divorce, and you have concerns about the extent of your financial portfolio, or are worried that your spouse has been stashing the cash, call us at 866 766 5245. Our experienced divorce attorneys have access to some of the best forensic accountants in the business. We can help you through this.

 

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