Family Law and Divorce in St. Petersburg, Clearwater, Tampa, Sarasota, Pinellas County, and surrounding West Florida areas.
If you or your spouse own a business, determining its value for equitable distribution purposes can be a difficult and tedious, yet necessary task. Often, if parties to a divorce have a business interest, it is the main asset, and thus its valuation is extremely important in a divorce. In order to value a business, experts are usually retained to determine the best approach for valuation and to testify at Court about his or her opinion. These experts often review the business’s financial records, assets, liabilities, and take into account other factors such as a business’s reputation or good will.
Once the business is valued, the Court usually does not split interest in the business between the two parties of the divorce, as the goal is to have a clean break after the divorce. Rather, the Court will usually award interest to one party, and then offset that award by giving the other party additional assets.
If you need assistance with business valuations, divorce, paternity suits, or other family law matters, please contact our office, as our attorneys have extensive experience in valuation disputes during divorce in St. Petersburg, Clearwater, Tampa, Sarasota, Pinellas County, and the surrounding West Florida areas.