YOUR BUSINESS AUTHORITY
Springfield, MO
While attorneys may utilize expert witnesses who bring specialized knowledge or experience to provide an expert opinion at trial, Kelly Davidzuk, senior partner with Stange Law Firm, PC, says that many attorneys often underutilize or undervalue expert witnesses, particularly in the field of family law. There are several types of experts available to use in family law cases depending on the contested issues at hand.
“If there is a business at play in a divorce case, the court needs to determine who owns the business, what is its value and how will the asset be divided at the conclusion of the divorce,” says Davidzuk. A business valuation expert may be hired to assess that business from all angles. “There are various methods of business valuations, but one of the more common methods used is to analyze the company books, assess the market area and compare that business to similar businesses to determine its value.” The report the business valuator prepares can be used as evidence at trial and the valuator may come into court to testify as an expert witness and make a recommendation as to how the court should divide the asset.
“If you’re trying to determine the fair market value of the marital residence in the division of assets and debts, you would want to consider bringing in a real estate appraiser to determine that value for the parties.” If the parties disagree on that value, that’s when the real estate appraiser would provide expert testimony.
Expert witnesses in family law cases can include:
Family law cases, when involving significant assets like businesses and real estate, can benefit greatly from the informed and educated opinions of expert witnesses. Consult your attorney to see if bringing in an expert witness is right for your particular case.
Note: The choice of a lawyer is an important decision and should not be based solely upon advertisements. Kelly M. Davidzuk is responsible for the content. Headquarters office: 120 S. Central Avenue, Suite 450, Clayton, Missouri 63105.
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