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If you or your former spouse has a stake in a business, a properly done business asset valuation is an essential and vital component of the divorce process. Failure to perform this valuation properly is a serious mistake that can significantly harm both your current and future financial interests.
At Greenberg & Krieger LLP, we have over three decades of experience handling high-net worth divorces requiring business asset valuation. We are dedicated to protecting and securing the financial interests of our clients. Contact our Stamford law firm to schedule a complimentary consultation with a dedicated divorce attorney.
Business Asset Valuation Process
In order to properly value business assets, the business financial accounts must be carefully examined. However, businesses sometimes keep inaccurate or incomplete financial records. No matter the situation, we work closely with forensic accountants who can accurately value a business or review an existing valuation to ensure accuracy. Once the business is properly valued, it is used to pursue a property settlement agreement that serves the interests of our clients.
We are aware that many of our clients want to avoid public exposure. In these situations, arbitration may be the best option. During arbitration, a neutral third party – usually a judge or another qualified attorney – hears the arguments of both sides and issues a binding decision. Please note, there is now a new statute that allows binding arbitration for a judgment. You also have the option to discuss the issues amicably in mediation. Mediation can also be used effectively to resolve hotly contested issues, when you have the right attorney representing you and the right approach used backed up by accurate data.
If your spouse requires secure financial information about your company, we can have him or her sign a confidentiality agreement — protecting your information.
You Won’t Have to Dissolve the Business
Our clients who are business owners, business partners or have any type of ownership interest may be concerned with losing their business and/or position as a result of divorce proceedings. However, with a business valuation, it is possible for an owner to maintain their business and the former spouse to recover their fair share. For example, we can determine the marital portion of the business and establish an agreement whereby the business owner keeps their business and the spouse receives another asset or a property payout.
To speak with an experienced business asset valuation lawyer about protecting your business or securing your share of a spouse’s business assets, contact Greenberg & Krieger LLP, in Stamford, Connecticut. We offer a complimentary consultation.
Aggressive. Compassionate. Committed.
Greenberg & Krieger LLP