Business Valuation-Do I Need One?
We often hear “I have a business but I don’t want to spend the money to get it valued. It’s so expensive. I’ve heard that it can cost $15,000 or more.” If one or both of the spouses has a business, a case usually cannot be settled and cannot go to trial unless a value for the business has been established.
Accountants who specialize in business valuations are highly competent to determine a valuation. This could be the largest, or one of the largest assets of the marriage. Unless you know what the value is, you might be entering into an agreement blindly. If you must go to trial, a judge will need to know the value of the business to accurately and fairly divide the assets.
Many times after a business valuation is complete, all the other issues of the case fall into place. It’s worth it to have a business valuation.