by Michael Brown & Barry Mukamal, Marcum LLP
From a forensic perspective – that is, using financial knowledge and skill in conjunction with investigative techniques – I would stress the value of conducting a cost/benefit analysis as a tool for both plaintiffs and defendants to determine whether the litigation is worth pursuing at all. Toward that goal, we routinely provide an estimate for our time as it relates to the forensic work and testimony required for a specific matter.
Surprise costs also can arise from litigation gamesmanship, such as extensive motion practice or discovery requests. Depositions and the trial process itself can easily cost more than originally expected, and “scope creep” sometimes comes into play, where initially we’re engaged for one task that ultimately evolves into multiple unique tasks not accounted for in our original estimate.