A forensic accountant is generally an accountant with expertise in detecting financial fraud or manipulation in personal and business tax returns, bank accounts, investment accounts, retirement accounts, broker accounts, offshore accounts, cash, cryptocurrency, jewels, art, cars, yachts, airplanes, real estate, life insurance policies, and related financial documents. This financial investigation work is often referred to as tracing, financial tracing, or asset tracing, and generally involves “following the money” by tracing a piece of financial information or data back to its source.

In divorce litigation—and especially in high-asset or high-net-worth divorces in which there is significant marital or community property—any financial manipulation or fraud of personal or business finances may have a significant effect on the marital or community property that is available for division, and on spousal support and child support payment amounts. One or both spouses in a divorce may hire a forensic accountant to discover any hidden assets or manipulated financial documents that may prevent the court from having an accurate accounting of the marital or community property assets and the spouses’ incomes.

In Maine, forensic accountants play a crucial role in divorce proceedings, particularly in cases involving high-net-worth individuals or complex asset portfolios. Maine operates under the 'equitable distribution' model, which means that marital property is divided in a manner that is fair but not necessarily equal. Forensic accountants are hired to ensure that all assets are properly disclosed and valued. They use their expertise to uncover any hidden assets, underreported income, or financial fraud that could impact the division of property, as well as spousal and child support determinations. The findings of a forensic accountant can be pivotal in court decisions regarding the distribution of marital assets and the calculation of support payments. Their work is recognized and can be integral to the legal process, as Maine courts rely on accurate financial information to make informed decisions regarding asset division and support obligations.