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Hi, I am Nick Slinko of Feldstein Family Law Group.
While parties resolving their family law disputes often want to keep the costs as low as possible, sometimes it is necessary to spend more to reach the most equitable and satisfactory resolution. One such way is by utilizing the services of third party professionals.
These professionals can be real estate appraisers to value the matrimonial home, parenting coordinators to assist separating couples in coming to an agreement on a parenting schedule, business valuators to value an individual’s business interests for the purposes of equalization or to do an income analysis to determine the party or parties’ incomes. Parties may decide to jointly retain these third parties or they may retain and pay for these services separately.
It is cost efficient to jointly retain, but parties may not wish to do so. One party may disagree with a finding made by a third party thus necessitating the need for a critique or other opinion. This often increases the cost.
While not necessary in many cases, we do recommend retaining the services of outside professionals when the situation calls for it. A common example is retaining a certified business valuator to complete a business valuation on one party’s business or to do an income stream analysis on the self-employed payor of support.
Your lawyer will advise you when he or she feels there is a need to retain a third party professional in your matter. While it may increase your overall cost, it will give you and your spouse the knowledge that you both require to help reach a resolution of your matter.
Thank you for taking the time to listen to me today. Should you require more information and wish to schedule a consultation, please visit our website or contact our office at (905) 581-7222. Thank you.