Protect Your Finances When Valuing Your Business
In a divorce, one of the most important issues you will face is how to value and divide your business assets. This complex matter requires the assistance of an attorney with experience in finance, marital law and business valuation. At Schipani & Norman, P.A., we have all three.
Whether you are the sole proprietor of a business, own one jointly with your spouse or are the spouse of a business owner, we can assist you. Our divorce lawyers have reached thousands of favorable outcomes for clients with high-asset portfolios. We will guide you through the valuation process, working tirelessly to obtain the most financially beneficial results possible.
How Do Florida Courts Value And Divide Businesses?
The court has three methods that it uses to value a business in a high-asset divorce. These include:
- The cost-based method: With this method, the court evaluates assets and liabilities to determine the business’s value.
- The market method: Company transactions, stock market information and other transactional data determine business value in this method.
- The income method: The court uses this method to determine value based on a company’s current and projected earnings.
Does The Court Have To Value Every Business?
If a business counts as marital property — property acquired during the marriage — then it is subject to division. Spouses have the opportunity to divide business assets between themselves out of court by using mediation or collaboration. But if private negotiations are not successful, then the court must value and divide the business.
Discuss Your Business And Your Finances
At the office of Schipani & Norman, P.A., in Sarasota, we can evaluate your case and give you a better idea of how your business will be valued. Then, we will devise a strategy to value your business in a favorable way to keep your finances intact. To schedule your initial consultation, call 941-549-8981 or send us an email.