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Not all divorces or legal separations require the use of experts, outside of your attorney. A Divorce where there is minimal or easy to value assets would not require an expert. There are certain times when an expert is necessary and can make the difference in your case. Experts are able to asses complex business valuations, commercial and residential properties, valuation of pensions and 401k plans, dividing retirement plans to name a few.
Why use an expert? Colorado has a five-year look back period for allocation of material assets or liabilities. No one wants to go back and re-litigate their divorce, so ensuring proper valuations and disclosures are provided the first time around is critical. Using qualified and respective experts will protect you from your ex-spouse from trying to re-litigate the cost of an asset, five years down the road.
Divorce is already expensive, why incur more costs with experts?
As the old saying goes, you get what you pay for. Not having proper valuations can lead to all sorts of issues, from providing an equitable payment that is too high to short selling some of your assets. Experts can assist in resolving child-related issues, such as the proper division of parenting time and decision-making. This is one time where the potential cost to you in not retaining an expert may outweigh the cash you keep in your pocket.
POINTS OF SERVICE
- We work with you to complete a cost benefit analysis of using an expert or foregoing an expert.
- We work with various experts to ensure all necessary information for a complete analysis is used.
- We leverage the expert report to best highlight the position that we are trying to obtain.