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 in business evaluations is necessary to competently handle these complex and intricate matters.
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. 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
Goodwill And Business Valuations
There are two types of “goodwill” when it comes to a business. Only one of them is used for the purpose of property division. The first type is “personal goodwill.” 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 goodwill” is used for purposes of valuating a business in a divorce. Enterprise goodwill includes the repetition of the business itself or the location of the business.
Methods To Evaluate The Value Of Businesses
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 at her Fort Lauderdale, Florida law office