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Determining the value of a business in a divorce

Although Georgia divorces are already complex to begin with, they can become even more complicated if one spouse has a business. If the business was started after the parties were married or it grew significantly during the marriage, determining what value the business has is a crucial step in the property division phase.

To get as accurate a value of a business as possible, a skilled valuation professional is needed. After meeting with the analyst, the former couple will need to determine what type of service they would like. For example, they can ask for a calculation of value. While this service is generally cheaper than a full valuation, it may not be as accurate. However, a calculation of value may be more appropriate if the former couple is working together to come to an agreement or if the business is not as complex.

For those who will be relying on a judge to make decisions regarding the marital assets, a full valuation may be needed. A full valuation is more reliable and provides greater certainty. However, it should be noted that full valuations can take longer, preventing the former couple from reaching a divorce settlement quickly.

Going through a high asset divorce can be a difficult, lengthy process, especially if the former couple owns businesses, multiple real estate property and other major assets. Although the former couple may reach an agreement on some of assets they obtained during the marriage, negotiations could hit a snag if both individuals want to keep the businesses or if agreements cannot be made. A family law attorney could suggest mediation in lieu of having a judge make the ultimate decision after a prolonged court battle.

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Hecht Family Law
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