If you’re contemplating a divorce and you or your spouse owns a business, that business is a marital asset subject to distribution by the court. A lawyer experienced in business valuation and distribution can assist you in receiving your fair share of the business.
Business valuation is the process used to estimate the economic value or selling price of a business. The value of a business includes many factors such as real estate, fixtures, equipment, raw materials, bank accounts, accounts receivable and goodwill. These valuations are used during a divorce to estimate the economic value of an owner’s interest in the business in anticipation of dividing up all of the assets a couple owns.
Different approaches to valuation often lead to widely variable conclusions as to the worth of the business, so it is imperative that you obtain a valuation which employs the approach most favorable to your position.
Your Fairfield County divorce attorney will work with an expert to come up with a valuation favorable to you and then use it to pursue a favorable property settlement agreement.