Nashville, Tenn., Dec. 12, 2024 (GLOBE NEWSWIRE) — As divorce filings historically surge in January, family law attorneys increasingly rely on LBMC’s comprehensive financial expertise to navigate complex cases. In a landscape where more than 90% of divorces are resolved outside the courtroom- through mediation or collaboration- the selection of trusted financial professionals to help inform decision-making plays a pivotal role in achieving equitable and successful outcomes.
To ease the burden on legal professionals and their clients, thought leaders in family law emphasize the need for consultants who bring not only technical expertise, but also mediation and collaborative skills to the table. Cheryl Panther, CPA/PFS, ADFA/CDFA, and Tennessee Rule 31 Listed Family Mediator, underscores, “The combination of advanced financial acumen with the ability to serve as a neutral communicator can transform the resolution process, ensuring all parties feel heard and valued.”
Based on national trends and expert insights, family law attorneys should prioritize consultants with the following three characteristics:
1. Nationally Recognized Technical and Industry Expertise
Divorce cases often involve complex financial portfolios, from closely held businesses to executive compensation. Consultants with valuation credentials from organizations like the AICPA, the American Society of Appraisers, and the National Association of Certified Valuators and Analysts are equipped to provide precise assessments tailored to each situation.
LBMC’s Family Law Support Services team, for example, offers expertise in business valuations, equitable distribution, personal goodwill valuation, active/passive appreciation, tax implications of assets in division, complex compensation, and lifestyle analysis. Their experience across diverse industries ensures that no asset is overlooked, a key factor in cases involving high-net-worth individuals and business owners.
2. Specialized Skills in Mediation and Consulting
More consultants are now combining financial certifications with mediation training, allowing them to act as financial neutrals or experts in litigated and collaborative divorces. Such dual capabilities not only enhance clarity in financial matters, but also reduce emotional stress for clients by fostering a cooperative environment.
According to the American Bar Association, cases managed through the Collaborative Process or mediation can save significant time and cost compared to litigated divorces. However, these skills are also useful in litigated divorces. Consultants trained in these methodologies bring significant value, particularly in high-stakes negotiations.
3. Comprehensive Service Offerings with a Human-Centric Approach
Legal professionals benefit most from consultants backed by organizations with broad and deep service offerings, including forensic accounting, tax planning, and post-divorce implementation support. These multidisciplinary teams ensure seamless guidance through every stage of the dispute process.
For instance, LBMC’s consultants assist with depositions, trial preparation, and post-divorce financial planning, providing end-to-end support. Their ability to analyze transactions, critique opposing expert reports, deliver expert testimony, and evaluate tax and financial implication of settlement offers makes them indispensable to family law attorneys.
Supporting Legal Teams Through Complexity
As the divorce landscape grows more intricate, consultants who blend technical mastery with communication and mediation skills represent a new standard of excellence. Attorneys who partner with these professionals not only streamline their busy season, but also achieve better outcomes for their clients.
For more information on optimizing divorce case outcomes with expert valuation and tax consultants, contact Cheryl Panther or Scott Womack with LBMC Family Law Support Services.
About LBMC
LBMC is a 2024 USA Today Top Recommended Firm, one of the Southeast’s largest accounting and business consulting firms, and an Accounting Today Top 40 Firm in the Nation serving approximately 11,000 clients with diverse needs across a spectrum of industries. Primary client groups include privately-owned and private-equity-backed middle market companies in the healthcare, manufacturing/distribution, real estate, and technology spaces. At the forefront of innovation, LBMC leverages advanced business intelligence and AI technologies to drive growth, efficiency, and strategic insights for our clients. Founded in 1984 as a traditional accounting firm, LBMC today is an industry leader in audit, tax, advisory, technology, human resources, and wealth advisory services for businesses and individuals. LBMC has more than 900 team members, with offices in Nashville, Chattanooga, Knoxville and Memphis, Tennessee; Louisville, Kentucky; and Charlotte, North Carolina. For more information on LBMC’s experts and comprehensive services, visit our website or call 615.377.4600. Discover career opportunities or learn more about how LBMC’s services and culture can support your business goals. Connect with us on LinkedIn for the latest insights on talent, client engagement, and business growth.
- Navigating divorce with the right expertise ensures equitable outcomes and client peace of mind.