When a lawyer is tasked with hiring an expert financial witness for their case, they will usually look for one that has certain qualities. These qualities are crucial for a successful end to a case for their clients. In all areas of law, expert witnesses can range from low to excellent quality. The key is to fully vet a potential expert witness before hiring them. The right financial expert witness will have all of the necessary knowledge and expertise about things such as criticized loans and other financial matters.
One of the best qualities to look for in an expert witness is confidence. They will be subjected to depositions and cross-examinations during court proceedings. The expert witness will also need to be able to confidently testify in front of the judge, jury and other court attendees. When an expert exudes confidence, their testimony will hold more weight and be taken seriously.
Expert financial witnesses need to have specialized knowledge in their fields in order to be reliable. They need to have a strong basis for their opinions and be able to effectively relay those facts and opinions during their testimony. When you hire an expert witness, be sure to ask for proof of how they formed their opinions and testimonials.
Most expert witnesses will deliver their opinions during three stages. The first part of their opinion will be delivered in their report and contain the method used in formulating their opinion. The second stage is where they will attend the deposition and be asked questions by the judge and opposing counsel. Third, they will have to testify in front of a jury. Consistency is key in all three stages to establish reliability.
The right expert financial witness can make or break a case. It is important to thoroughly vet multiple witnesses before settling on one. Only hire expert witnesses like the one found at www.mrichardsconsulting.com with proven experience in the field of law you are requiring. The witnesses need to be able to convince the court that their opinion is a reliable one.