Assessing the business evaluation within family law proceedings
Home /
The worth of a business evaluation
In divorces, business evaluation is a typical perspective, wherein deciding the worth of a business becomes essential. The court utilizes a fair cycle known as impartial conveyance to separate resources. At first, they distinguish the resources that are important for the marriage. Consequently, they survey their worth and dispense them between the couple, considering different variables.
Determining the worth of assets in divorce proceedings
Figuring out how much assets are worth during the fair sharing process in a divorce can be tricky. Sometimes, spouses don’t agree on the value of a business, or one might not count everything the business owns. Some business owners might not even know how to evaluate their own business.
For whatever reason, there could be a disagreement about how much a business is worth in the case. business evaluation in family law is just the process of deciding the dollar value of a business to use in the financial side of the case.
Seeking the help of a specialist
Getting help from a financial expert who knows how to value businesses is a smart move in the business evaluation. During the divorce, your lawyer works with this expert to figure out the business’s value. The lawyer gathers financial papers for the business through legal processes, and other methods are used to understand the details that affect its value.
The expert uses this information to share their opinion on the business’s value and can even testify in court. It’s important to make sure the expert is well-qualified for the job.
Approach to determining value
When it comes to figuring out how much a business is worth in a divorce, there are different ways to do it. A qualified expert, like an accountant or business valuator, is the best person to decide which method to use. At Brittany Lindsay Family Law, we’ve worked with experts who know how to value businesses. Our lawyer talks to the business evaluation expert to pick the right method.
These experts consider methods like fair market value, net value, investment value, intrinsic value, and others. Choosing the right method is crucial, and sometimes it might even be a mix of different methods, sometimes called the “divorce value.”
Individual value or worth
When valuing a business, we often think about goodwill, which is the value a business gets from customers sticking around because of its name, reputation, or other factors. This goodwill’s worth differs for each business and is usually taken into account when evaluating a business in a divorce case.
Seek the expertise of the appropriate professionals
If you’re dealing with the complexities of business evaluation in your divorce, don’t hesitate to reach out for help. Contact Brittany Lindsay Family Law for a scheduled confidential consultation about your case. They specialize in divorce cases with a business valuation, especially in Central Florida and Tampa Bay ( like Hillsborough, Pasco, Pinellas, Polk, Sarasota, Manatee, and surrounding counties),
Brittany Lindsay, a divorce attorney focuses on the following aspects of divorce. Here are some links: