Business Valuation In Divorce
When one or both parties in a divorce owns a business, or professional practice, such as a doctor, lawyer or accountant, the risk of expensive ongoing litigation is greatly increased. Business assets must be analyzed during divorce proceedings to first determine whether the asset is community property or separate property, in whole, or in part. Businesses are then assigned a valuation, usually involving the use of expert witnesses, most commonly a certified public accountant who is also a certified valuation analyst.
The Importance Of Using An Experienced Attorney
If your dissolution of marriage case involves a business, it is important to select an attorney with knowledge and experience in the area of business valuation. Your attorney should be familiar with qualified expert witnesses who are able to assist in preparing your case, both in determining the value of the business and in many cases, determining income from the business for child and spousal support purposes.
As certified family law specialists who understand the issues related to business assets, we can help you try to avoid protracted expensive litigation. If necessary, we have the knowledge and experience to present your case properly to the court in an effort to obtain a favorable outcome.
Contact The Certified Family Law Specialists At Erickson Family Law LLP
If your divorce involves a business owned jointly or by you or your spouse, we can help make sure it is properly evaluated and dealt with fairly during the divorce proceedings. To set up a consultation to discuss these matters, call 408-840-2393 or fill out our online contact form.