A married couple that owns or runs a family business together will encounter the unique challenge of “dividing” that asset should they go through a divorce. Most cases of property division involve savings accounts, actual cash, or tangible items like a home or an automobile. It can be a complex affair to try to divide something that is more abstract and ever-changing like a business.
Gill Law Group, PC can provide the legal assistance and dedicated counsel you need to fairly valuate your business during your divorce. Our team of Irvine divorce attorneys take a teamwork approach to each case we accept, allowing you to access the skills and knowledgeability of more than just one family lawyer. Get your case started with a free consultation today – you will be glad you did.
Valuating a business is the process of examining it thoroughly to determine its value if it was sold, or how much income someone would stand to make from running it for a given fiscal year. You can think of a business valuation as an appraisal for your business, rather than your home. With the help of a professional divorce attorney with a comprehension of intricate legalities and business sense, you can accurately valuate your business so it can be added to your marital property during divorce.
Five things to consider when valuating your business are:
Determining the value of your shared business must be an exact science that uses clear mathematical procedures and a careful eye for detail. If it is not, the court may reject your property division plan or you could stand to lose out on thousands if your estimation was too low. Rather than guessing to get to the answers you need, retain the services of our Irvine divorce lawyers to have confidence that everything is being handled appropriately. We can discuss buying your ex-spouse’s share of your business, where to collect the financial information you will need, and more. All you need to do is contact our firm to begin.