Best Time to Retain an Expert Witness Service

In litigation, there are certain aspects that cannot be handled by the attorney alone. It is advisable to budget for an expert witness service when planning the financing of a lawsuit. Here are some reasons why a litigant should retain a financial expert witness service early.

  • Your financial expert witness helps you to understand economical and financial concepts relevant to your case. There are lots of words and phrases in the legal context that are completely unknown to non-attorneys. Similarly, there are concepts and terms related to finance, accounting and economics that are unfamiliar to non-economists.
  • Your expert will prepare documentation and analysis related to your case.
  • Your expert can consult with you about economic and financial matters, helping him/her create a theory of damages that is relevant and calculable. In economic damages cases in particular, it is important that the facts and the law align in such a way that an economic damages expert can provide an opinion that is consistent with the remedies the law allows.
  • Time allows organization and familiarity with the underlying facts and documents of the case. The more organized your experts, the better they will be able to integrate all the information in the case relevant to their opinions.
  • Hiring experts early provides additional time to prepare for deposition and trial. Your experts can help you create more effective direct examinations and cross examinations of opposing experts if they have the time to do so.
  • As the case progresses, your expert can vet the work of experts on the other side.

Being hired early allows your expert time to prepare a report, reflect on that report, and then issue a final report. It minimizes the potential for mistakes and last-minute changes to the final report.

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