Get a Legitimate Share with Meticulous Business Valuations in Marital Settlement

Posted by Zelinia Dsouz on May 20th, 2016

Marriage is a beautiful institution where people wish to stay together forever. But in some cases, things don’t go in the way they are supposed to and ultimately, lead to separation or divorce. The divorce process results in a division of many things acquired during the marriage until the date of separation known as marital property (personal property, other assets, and debt). A lot of people rush through the process for one reason or another. However, entire divorce process should be taken slow, especially if you have a family business which always complicates the legal proceedings.

To start with dividing the business, it needs to be valued first, which means calculating the exact value of business in a current scenario including sales, profits, investments, debts, etc. Although business valuation is common to many business owners for a variety of reasons, business valuations in divorce matters is another matter. Divorce business valuation is an art rather than a science. Often in a divorce, both the husband’s lawyer as well as wife's lawyer, chooses their own business valuation expert. This will cause some major difference in the valuation results and thus, complicate the divorce process more. In such cases, it is advisable that both parties hire one business valuation divorce expert in NJ that everyone has confidence in. A single valuation for the business facilitates settlement negotiations. Even if settlement negotiations still fail, a single value for the business streamlines the divorce as well.

You and your spouse may try to be very objective in determining the value of your business, but a professional business appraiser will be able to provide a accurate and objective business appraisal to help achieve equity in the your divorce settlement. They have proper training, skills and business foresight that can significantly help you determine how much your company is actually worth. Just like one size doesn’t fit all, one approach can’t be used every time to value every kind of business. There are a number of methods that are used by appraisers which completely depends on the type of business you own and current economic status.

Divorce is, indeed, a difficult process but when it involves a family business, you can’t do it hastily. You must be patient and systematic in your approach to determining the value of your business along with your other assets.  . In the end, you know that you will start your new life with a truly fair share of your business, and that is one element that is important to get right.  

About The Author

Author is an online blogger. This article is about business valuations in marital settlement. For more information visit : www.sunbusinessvaluations.com