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Why Your Financial Specialist Should Be Independent

By Mark C. Hill

Over the years, matrimonial lawyers everywhere have increasingly embraced the concept of working with experienced, credentialed professionals who specialize in the financial aspects of divorce. Originally, most of these specialists were Certified Public Accountants and the work was mainly of a forensic nature. Recently, however, we have seen an increase in the involvement of professionals whose background is in the financial planning arena. Today, among other tasks, the planner is often retained to examine the longer-term impact of settlements and answer the client's question: 'Will I be okay financially?' In either case, these individuals are usually retained by one attorney to work as an expert and provide reports or testimony to help obtain a better financial result for the client.

In contrast to this approach, which usually leads to 'dueling experts,' the role of the financial specialist within the collaborative practice model has always been conceived as an independent and neutral one.

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