Any divorce requires the parties to identify and value their assets and debts so that they can be fairly divided. Often times, there are assets that may be hard to quantify or value.
Whether it be a professional appraiser to assess the value of real property; a forensic accountant to conduct asset tracing; a lifestyle analysis, which depicts a couple’s historic spending and savings; or
a cash flow analysis of a jointly owned business or its value, experts can play a significant role in valuing assets and providing input into the division of those assets. Lawyers rely on this expertise and their thorough analysis to guide clients towards a fair and equitable distribution of assets and to obtain a favorable outcome in their case.
While experts are not required in every divorce, it is important to use their services when there are substantial or complex assets to consider. Many clients are skeptical about retaining an expert due
to concerns about the moderate to hefty retainer fee. However, the likelihood is your attorney has a working relationship with the experts that he or she would recommend, and often shares similar
goals and perspectives of the case; so as a team, they work together and collaborate to achieve a beneficial settlement or outcome at trial for the client.
If the goal is finding the most equitable solution while keeping costs as reasonable as possible, your attorney likely has a practical expert in mind.
Generally, the benefit in retaining a qualified expert far outweighs the cost, and their findings can be invaluable. If you have made investments during your marriage, or spent years nurturing a business,
it is encouraged that you also invest in an expert who will appreciate your efforts in building the marital estate, and will assist your attorney in achieving a fair, equitable distribution of assets and debts, and obtain the most beneficial outcome possible.