Business Valuation in Divorce Lawyer Scottsdale, Arizona
Family Law Attorney Assists Clients with Business Valuation in Divorce in Phoenix, Scottsdale, and Throughout Arizona
In community property states like Arizona, all property acquired during a marriage is divided equally in the event of a divorce. This includes any businesses or business assets. Entities such as partnerships, LLCs, and other types of businesses, as well as improvements and profits from businesses that pre-date a marriage, are considered marital assets and must be divided. Although this sounds relatively straightforward, how can a business be properly valued? How much is its goodwill worth? What about inventory, advanced orders, and other aspects of a business that might have value in the future? Valuing the business is not quite as simple as it initially seems.
In fact, valuing a business can be one of the most contentious issues in a divorce. What valuation method should be used? Is valuation method appropriate for the type of business? How do you know that the individual or company is really the best one for the job? At the Law Office of Karen A. Schoenau, our Scottsdale business valuation in divorce lawyer knows how to value businesses that are part of a marital estate. Whether we do it ourselves or hire an expert, clients can be assured that the value we assign to their marital estate will be as fair as possible.
What Is Covered in a Business Valuation During Divorce?
The purpose of a business valuation in this context is to determine the value of a business so that the amount can be divided between the spouses during a divorce. This is part of the process of dividing marital assets and debts. A business valuator assigns a dollar amount to the assets and debts of the business. These assets and debts may include:
- Tangible assets such as cash, bank accounts, accounts receivable, inventory, equipment, buildings and other real estate, and any other assets that can be counted or that already have a dollar value.
- Intangible assets such as trademarks, copyrights, goodwill, purchase offers, and contracts or letters of agreement that grant some benefit.
- Liabilities such as mortgages, accounts payable, loans payable, taxes payable, salaries and wages payable, customer deposits, and other liabilities of the business.
The value of some assets and liabilities is relatively easy to determine, such as the balance of a bank account.
Other types of assets, such as goodwill or a trademark, can be more difficult to value. Therefore, it is important to have a business valuator who is knowledgeable about the current values assigned to these intangible aspects of a business. It is also important to have an experienced Arizona lawyer who can explain to the judge how the valuation professional arrived at the stated value.
Contact a Scottsdale Family Law Attorney for Help Valuing Businesses During Divorce in Arizona
If a business is part of your marital estate, even if it is a small business, it is critical to retain experienced legal assistance when determining the value of the business so that it can be part of your marital estate during a divorce. At the Law Office of Karen A. Schoenau, our Scottsdale business valuation in divorce attorney has significant experience working with business valuation professionals, and she knows how to incorporate their work into the division of assets and debts. To schedule a consultation, call or fill out the online form. Our law firm office is conveniently located at 14301 N. 87th Street #211, Scottsdale, AZ 85260.