When expert information or advice is needed in an adversarial divorce, each attorney hires an expert to issue an opinion, and, if necessary, testify in court. In the end, the couple pays for two expert opinions and in rare cases may need a third expert to determine which of the experts has a more accurate valuation.
But there is a better alternative – When an expert is needed in mediation or some other alternative divorce process, the attorney-mediator or collaborative attorneys can provide the divorcing couple with names of experts. The couple together may interview the experts and agree on the neutral joint expert they will mutually employ to give an opinion of value. More often than not both parties having access to the joint neutral expert feel satisfied with the valuation presented.
This joint neutral valuation is Not binding on the parties unless they both agree to the value. A valuation is only needed in a divorce when one party wants to buy the other party out of an asset. This immediately sets up an unspoken conflict. The buying spouse wants to buy low and the selling spouse wants to sell high. Using a Neutral valuation Expert more often than not reduces this conflictual issue.
Different experts may be necessary depending on the subject area being discussed. The most common valuations are to value the marital and premarital portions of a retirement plan, or a home appraisal to determine the fair market value, or a business valuation to value the community interest in a business.
A Neutral Expert evaluator has a better opportunity to provide the divorcing spouses with more options and information because and have the flexibility to provide a range of value and help the clients negotiate a fair value settlement. The Neutral Expert can discuss the tax implications of the value or different buyout scenarios.
The financial benefits of utilizing neutral experts, instead of battling these issues out in court, are obvious and can be substantial.
The best opportunity for a amicable settlement in divorce is through a Mediated Divorce Process.
Contact Carol Delzer Attorney-Mediator at Family Law Center to schedule a Consultation at: Info@FamilyLawCenter.US
