When business owners get divorced, the division of assets becomes a key concern. To ensure a fair division of assets, it is important for business owners to have a private valuation of their business before filing for divorce.
Obtaining A Valuation For the Business
It is best to have a professional business valuation done in the months before divorce proceedings. This will give both parties an accurate and objective view of the company's value before the division of assets process, as well as serve as a comparison for the official value given at the time of asset division.
A professional valuation will give you an accurate picture of your business's worth, which is essential for ensuring a fair division of assets in a divorce. When reviewing your company’s valuation, It is also important to keep in mind how the current economy may affect the value of your business, as this valuation might reflect trends in the economy.
How The Economy Impacts This Value
Have you considered how the current economy has had a significant impact on the value of businesses? Ultimately, the value assigned to a business during a divorce may not be accurate if it is done too early. For this reason, it is important for divorcing individuals to begin the process of valuation in the months before filing for divorce. If the valuation is done too early, it might no longer be accurate by the time the couple moves to the asset division process.
When You Need Results, You Need Aggressive Representation
If you are a business owner who is considering divorce, it is important to have a private valuation of your business done before filing for divorce. This will give you an accurate picture of your business's worth, which is essential for ensuring a fair division of assets in a divorce. The current economy may also have an impact on the value of your business, so it is important to keep this in mind when valuing your business for divorce purposes.
At DeTommaso Law Group, LLC, our team of experienced divorce lawyers can help you navigate the process of valuing your business for divorce and advocate for your best interests. Contact us today by calling our firm at (908) 274-3028 to schedule a consultation.