One of the first steps to save a small business when the owners are divorcing is valuing a small business during divorce in Gwinnett County. Divorce can take nearly any jointly-held asset a couple may have accumulated during their marriage and divide it during the asset division phase. A business, like any other asset, may be up for division or transfer when the owners are married and getting a divorce.
How a small business fares after the owners divorce depends largely on how well attorneys and other experts value it during the divorce process. Without a proper assessment of the business’s assets, operations, structure, and value, each spouse may feel s/he is not receiving proper compensation for a fair share of the effort and rightful stake s/he had in the business.
Work With a Divorce Team That Knows the Ins and Outs of Business Valuation
Divorce attorney David Ward knows that it takes a special kind of team to fully investigate and properly value a small business. While some divorce attorneys will just take a business at face value by looking at its gross revenues and tangible assets, Mr. Ward enlists a top team of professionals who have the skill sets required to make highly accurate and trustworthy valuations of your Gwinnett County business.
After all, your business is unique in more ways than one. Even two businesses in the same industry can be drastically different. For example, two accounting firms may not be valued in the same method because of fundamental differences in their operations. A single account may run one of the businesses and work strictly online, while another accountant may run the other business from a physical office location with several assistants on payroll.
The first accounting firm will have very little tangible assets – the accountant is the true “asset” of the business. The second firm will have assets in terms of its employees, the physical office and its contents, and so on.
As you can see, minor details in your business’s structure and operations can make a huge difference in what to consider when placing a value on your business. A misstep could lead to your spouse getting more than you bargained for once the divorce is final.
Not Too High, Not Too Low: Correctly Valuing a Small Business During Divorce in Gwinnett County
You do not want a poorly-executed business valuation to give too much control to your ex-spouse, nor do you want valuation errors in your favor coming back to haunt you years down the road. Duluth divorce attorney David Ward works with a top team of business valuation professionals and analysts to make sure your assessment is done right the first time.
Call 770-383-1973 or fill out our online contact form to schedule your consultation with a divorce team that can help you.