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Divorce triggers the need for business valuation

Business owners in Georgia will face specific expenses when they choose to divorce their spouses. Hiring a valuation analyst to figure out what a business is worth represents one of those costs. A full valuation, which will produce the most detailed and accurate result, will incur the highest costs, whereas a calculation of value will be more affordable. In general, the complexity of the business and the contentiousness of the divorce will guide the choice between those options.

Full valuations have higher costs because financial specialists must dig into records and spend many hours pinning down the specific value. A person who owns a relatively complex business might need the full valuation to gain a reliable value figure. Additionally, a divorce between hostile parties might end up in family court where a judge could use the value to decide the division of property.

Cases that involve businesses with more easily determined values might depend on the estimate created by a calculation of value. Less time would be needed to prepare the valuation report, and the final cost would be lower. Divorcing spouses that are more inclined to negotiate fairly and compromise might also accept the estimated value. A mediator assisting with the negotiation could find such a valuation adequate as well.

Any business owner heading into the divorce process will have many factors to consider. A family law or business attorney could research the details of the person's business assets and explain how the law might apply to the division of property. An attorney might advise the person about the choice between full valuation and a calculation. Other important issues like spousal support, child support or the retention of non-marital assets could be studied by the attorney, who could promote the person's interests during negotiations or in court.

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