An often overlooked asset of any marriage is an ownership interest in a business. Because a business generates to its owners a stream of income that will continue into the indefinite future, they are often times a far more substantial asset than either of the parties to a divorce anticipate. The value of a business is far more than merely the sum of its parts.
Good Will Value
Most businesses have what is called a “good will value” which substantially increases the fair market value of the business entity above that which is revealed on an asset and debt schedule. Whereas the lawyers of Jones & LoBello have an extensive understanding of the business valuation process, we employ the finest experts to ensure that an accurate determination is made as to the fair market value of the business.
We employ only the experts that we know from our experience the Judges respect, and whose opinions as to value that the Court will accept. Often times, the existence of a family owned interest in a business can result in the business being awarded to one spouse and a majority of the other assets being awarded to the other spouse. The most important issue in any business valuation case is obtaining all of the necessary documents in allowing the expert to do his job. Then and only then can the appropriate division of community property be performed.
We often attempt to get the opposing party to stipulate to use one business valuator so as to reduce the costs associated with the litigation. If we are unable to procure such an agreement, we also do everything we can to obtain the most respected expert so that the likely result would be the Court adopting our expert’s value.
Related Articles: Divorce | High Net Worth, Complex Issues; Business Law