At Thacker Sleight, we are family law lawyers, negotiators, litigators, and problem solvers. We have a reputation of being fearless, meticulous, and thorough in our approach of life’s unexpected challenges. We never stop, it’s how we work, and why we get results.
Serving Clients in St. Joseph, Kent County, Ottawa County, Montcalm County, and Beyond
Does your business have multiple partners who want to split the value of the assets? Do you or your spouse have a business that must be divided in divorce? Whatever your situation, business valuation is an important step for gaining information about the value of your assets. Our Grand Rapids business valuation attorneys at Thacker Sleight are litigators who will consult the relevant financial experts and dig deep to determine the accurate value of your business. We will protect your economic interests and assert your property rights over your business.
Contact our team at Thacker Sleight to learn more about how we can help.
What Is Business Valuation?
Business valuation is the process of determining the economic value of an entire business or company. There are many contexts in which business valuation is a critical step, such as establishing partner ownership if the business has co-owners, for the purpose of taxation, and in divorce proceedings.
If a business is considered marital property between two spouses, such as if it is a family business, it will be assigned a value, after which financial experts will investigate the bookkeeping records related to the business. It is a good idea to have an experienced team of business valuation attorneys on your case to make sure a fair value is being assigned to your business or that your spouse is not concealing any assets within the business.
Business Valuation and Divorce
Business valuation is particularly important in divorce because some businesses may be considered marital property, in which case the business must be divided between both partners.
Situations in which a business may be marital property include:
- The business is a jointly owned family business
- The business began as separate property but during the marriage involved commingled assets from the marriage
- One spouse works at the other’s business or otherwise supports their business
Once a business is deemed marital property, the court will assign a monetary value to the business during the property division discussion and divide the business along fair and equitable lines.
Our experienced business valuation attorneys in Grand Rapids can make sure the court is assigning an accurate value to your business and that you are receiving a fair share of the business based on your contributions. We will utilize a variety of resources in our business valuation process, including consulting financial specialists and appraisers, forensic accountants, and other experts. These experts can also help us determine your business’ long-term prospects that may add to its value upon division.
Business valuation is important in many different legal contexts. Whether you are looking to divide a business between your partners or have a marital business you need to divide in divorce, it is a good idea to consult an experienced business valuation lawyer for legal guidance. At Thacker Sleight, we will look over your business interests and make sure your business is evaluated properly and accurately.
Schedule an initial consultation with our business valuation attorneys in Grand Rapids to get started.