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Business Evaluation what does this mean in divorce

On Behalf of | Jul 1, 2019 | Firm News |

What is a business evaluation in the world divorce?

One type of expert occasionally used in divorce matters are business evaluators, especially if you have a business subject to division.   If you operate a business that was acquired during the marriage, it could be subject to equable distribution regardless of whether or not the other party participated.  Business evaluations are not inexpensive.  Over the course of 18 plus years of my practice, I have worked with a handful of Business evaluators, one of which was bilingual.  These experts analyze the business books, along with bank accounts, financial records, tax returns, QuickBooks, and other relevant documents to determine the fair market value of the business during the divorce process for equitable division purposes.  A business may have a cash value that must be paid out to the other spouse upon a divorce being granted.  Sometimes the business has a negative cash flow due to a high volume of debt with very little inventory.  Do not assume what’s mine is yours and which yours is mine during the divorce process.  Consult with a family law attorney to be certain of your rights before proceeding with the divorce.

Please contact my office if you have questions about protecting your business interests in a divorce the process 678–316-5000.