Many divorces involve the valuation of a small business. It is not uncommon for spouses to co-own a small business or for one spouse to own a small business. In the course of the divorce proceedings that business has to be valued so that its value can be taken into account as part of the overall division of assets. Usually the business is the single most valuable asset of the parties which means that its value can be the single most important issue in the case.
There are a few specific issues that arise in business valuations. There are clear standards for the business valuation process and case law specific to how businesses are valued in Oregon. The business valuation expert can assist with the help of the lawyer to make sure that the client understands the ins and outs of the valuation process, including its value.
The most difficult issue can be the compilation of discovery and business records relating to the business. The valuation expert can assist the attorney and client in deciding which records are crucial so that this process can be as efficient as possible, including providing the lawyer with assistance in the deposition and trial testimony preparation phase of the case.
It is crucial that your lawyer both understands business valuation issues and assists you in choosing a highly qualified business valuation expert. The lawyers at Stephens Margolin pride themselves on assisting clients through this process.