Fontana Business Valuation Divorce Lawyer
Divorces tend to be complicated affairs, and adding in a family business makes an already complicated situation even more so.
Understanding the value of your business is essential to ensuring that the divorce decree results in a fair and equitable settlement for both you and your former spouse.
As a Fontana business valuation divorce lawyer, we can determine the appropriate value of your business so that you receive the right amount of compensation during the divorce proceedings.
Determining the Value of Your Business
Knowing your business’ worth will be a necessary component to providing the judge with a clear picture of your assets and debts. You can ensure the completeness of this endeavor by employing a Fontana business valuation divorce lawyer to perform the necessary tasks:
- Request the documents necessary to value the business
- Work with a certified public accountant (CPA) to complete a business valuation
- Determine what your ownership interest is worth
- Propose a plan for how you can receive the value of your ownership interest
We can then represent you through the negotiation process and in court to work towards a positive financial outcome.
Possible Financial Outcomes
Once we know what the value of your family business is and the value of your ownership stake, we can then create a plan for how you can benefit from this information.
In some cases, your spouse may want to retain control of the business after the divorce and want to buy you out. Alternatively, it may be you that wants to maintain ownership. Some couples choose to divide their assets, with one person keeping the business and the other keeping all personal property such as the home.
Any option you prefer can be discussed with your Fontana business valuation divorce lawyer and have a plan developed for its completion.
If Your Spouse Refuses to Cooperate
Legally, your spouse is required to produce all financial documents. This is true both for personal and business finances.
If you have requested this documentation and nothing has been produced, it may be necessary to go through the legal process to compel production—something your Fontana business valuation divorce lawyer can assist with.
Compelling the Production of Financial Data
Compelling your spouse to produce the business’ financial documents can be done using different methods:
- File a Deposition Subpoena for Production of Business Records – We can use this to compel document production from a bank, accountant, or anyone else with a financial connection to the business.
- File Deposition Subpoenas for Personal Appearance and Production of Documents and Things – This is used when we are concerned about the accuracy of internally prepared financial statements or tax filings. This subpoena can require someone like a bookkeeper to take the stand and testify.
Call a Fontana Business Valuation Divorce Lawyer for Help
Make sure you receive a fair and equitable settlement. During the divorce process, it is critical for you to protect yourself by working with a Fontana business valuation divorce lawyer who can ensure that your family business is properly valued and that you receive accurate compensation for your ownership interest.
Attorney Laurence J. Brock can assist you throughout the business valuation process. To schedule a consultation and find out what your family business is truly worth, call us at 909-466-7661.