Protecting Your Financial Future in Divorce and Paternity Cases
When it comes to property division and divorce, the most difficult assets to evaluate are often business assets. A divorce attorney experienced with business evaluations is necessary to competently handle these complex and intricate matters.
Attorney Brown-Wiseman can litigate the best business valuation method for your particular situation. Arrange a consultation and contact us online or call 954-563-1331 .
Complex Asset Divisions and Business Evaluations
Fort Lauderdale attorney Brown-Wiseman will work closely with a team of experts in order to thoroughly and properly evaluate your business assets. This typically includes highly-respected forensic accountants (CPAs), and when merited private investigators, economists and other financial appraisers. The other party will likely have their own experts who may valuate your business differently. Attorney Brown-Wiseman is extremely familiar with these types of cases and knows how to advocate the best arguments in your favor. She can explain the different valuation methodologies such as a market approach vs. an asset-based approach.
Business assets can include:
- Family-owned companies
- Retail stores
- Hotels, bars and restaurants
- Professional practices
- Manufacturing businesses
- Distributing companies
Good Will and Business Valuations
There are two types of "good will" when it comes to a business. Only one of them is used for the purpose of property division. The first type is "personal good will." This is not part of the value of a business for purposes of equitable distribution in a divorce. Personal goodwill is the value of the business-owning spouse's reputation or expertise. Only the second type, "enterprise good will" is used for purposes of valuating a business in divorce. Enterprise goodwill includes the repetition of the business itself or location of the business. Attorney Brown-Wiseman works with professionals who valuate businesses. This is important because this is necessary to accurately valuate a business for purposes of equitable distribution.
There are three approaches and methods for business valuations in Florida divorce cases: income approach, market approach and asset based approach or a combination thereof. The value of a business can vary greatly depending on the approach that it used. It is essential to have knowledgeable representation to clearly explain why your method is the superior method in your particular case.
Contact a Broward County Marital Assets Attorney
Protect your financial future by obtaining the assistance of a knowledgeable Broward County divorce and asset division attorney. Don't risk choosing the wrong lawyer. Contact Rebekah Brown-Wiseman by calling 954-563-1331 and schedule an appointment to meet in Fort Lauderdale, Florida.