As aggressive trial attorneys who litigate wills and trusts on behalf of abused beneficiaries, the lawyers of Albertson & Davidson, LLP, sometimes work with forensic accountants to examine a disputed estate’s financial records or to document the financial exploitation of an elderly person.
A forensic accountant has the skills necessary to analyze the management and administration of a trust or estate in probate and account for suspicious transactions and the disposition of assets. After an investigation, the forensic accountant will submit a written report of their findings and may serve as an expert witness if a case goes to trial.
The attorneys of Albertson & Davidson focus on handling complex estate and inheritance litigation matters involving probate, wills, and trusts. If you suspect the executor of an estate or a trustee handling a trust to which you are a beneficiary has misappropriated, hidden, or lied about assets, a California estate fraud lawyer can help you. When necessary to understand complex financial transactions, we secure the services of qualified financial professionals, such as forensic accountants, to help our clients seek justice. Contact us online or at (855) 928-0542 today to reach a California estate fraud litigation lawyer.
What Is Forensic Accounting?
Forensic accountants are accountants and investigators who use a range of techniques, tools, and computer software to analyze financial information for legal purposes. They scrutinize financial records, identify irregularities, and document and explain them for use in legal proceedings.
Key Functions of Forensic Accountants
Some of the tasks a forensic accountant performs include:
- Financial Analysis. A forensic accountant may be brought in to analyze complex financial data and assess the financial health of an entire estate or a business or organization held by a trust. Their skills enable them to identify irregularities, such as hidden transactions or inflated values, which may indicate financial mismanagement, fiduciary breaches, theft, or fraudulent conduct.
- Asset Valuation. Because forensic accountants are typically experienced with business valuation, they can examine and verify or dispute the valuation of complex assets. For example, they can establish values for assets such as interests in closely-held businesses, family businesses, and partnerships in real estate and other business ventures.
- Asset Tracing. When an estate or trust has unexplained losses, a forensic investigation can identify, trace, and, in some cases, help recover concealed or misappropriated assets.
- Fraud Detection. Identifying financial fraud requires a systematic investigation. In addition to traditional methods of gathering evidence, forensic accountants use advanced data analysis methods to spot abnormal financial patterns and potentially fraudulent activity.
- Reporting and Testifying. Upon concluding their investigation, a forensic accountant will present a detailed analysis and report of their findings and conclusions. They will also be available to testify if the case goes to court. Our forensic accountant can also review and critique the opposing side’s report, which will be shared in discovery.
How To Choose a Forensic Accountant
Albertson & Davidson might engage a forensic accountant if we are dealing with a complex estate or trust or have strong reasons to suspect theft, fraud, embezzlement, or other financial mismanagement or wrongdoing that could not be more easily substantiated. As highly trained professionals, forensic accountants can perform detailed analyses of financial records from the decedent’s final years and during the administration of their estate.
If there have been unreasonably high or unnecessary expenditures or assets have disappeared without explanation, a forensic accountant will be able to identify the losses and trace them. When problems with the administration of the decedent’s estate are suspected, a forensic accountant can analyze the trust or estate’s financial reporting and identify assets, valuations, and any suspicious transactions.
If our financial expert reports discrepancies before litigation has begun, we can notify the estate administrator, trustee, and/or others involved of our accountant’s findings and may be able to head off problems or settle a dispute.
Why Forensic Accountants Are Critical?
If litigation has started, a forensic accountant’s report will become part of the sharing of evidence with the other side in a legal case. Our forensic accountant can review financial reports we receive from the opposing side and can suggest questions for us to ask when we take depositions from parties involved in the case.
If a case goes to trial, our forensic accountant would be certified as an expert witness. Their report to us would be submitted as evidence under oath. If needed to testify, a forensic accountant would be able to explain financial matters in language that jurors could understand and follow and would supplement their testimony with charts and other graphics. They would testify about their findings and any disagreement they had with the opposing side’s evidence or testimony.
When To Consider Professional Assistance
If you think the executor of an estate or a trustee handling a trust you are a beneficiary of is mishandling their fiduciary duties and causing you financial harm, you may need legal assistance. Contact Albertson & Davidson, LLP to help you fight to protect your inheritance. Our attorneys are aggressive litigators, and we work with highly skilled forensic accountants when necessary to unravel and expose mismanagement, theft, embezzlement, and elder abuse involving wills, probate, estate administration, and trusts.
Contact a California Estate Fraud Litigation Lawyer
Our estate fraud litigation attorneys have extensive experience in courtrooms throughout California and have recovered more than $130 million in court verdicts and settlements for our clients. We stand. We fight. We win.
Contact us online or at (855) 928-0542 for a free initial consultation. Our law firm has offices in San Diego, Carlsbad, Bay Area, Irvine, and Los Angeles, CA.
