Board Certified Divorce Lawyer in Las Vegas
Business ownership by you or your spouse introduces important matters that must be addressed for your divorce case to be resolved. Determining the value of the business is one of the most critical elements.
A business valuator is an independent professional that will be engaged to assess the value of the business. The business valuator will conduct onsite interviews with employees, senior staff members and key executives. The business valuator will assemble all company related documents including bank statements, inventory reports, tax returns, financial statements, accounts receivable and payable reports, and other documents needed to determine the value of the business.
The business valuator will also look for the existence of less-tangible assets such as intellectual property rights, patents and trademarks. Technology and entertainment businesses, in particular, often have their value based on these types of intangible assets. Real properties owned by the business will also affect its valuation. If necessary, appraisals will be conducted to determine the current market value of these properties. Current market trends, the competitive environment, and earnings history will also be gathered for the business valuation.
A comprehensive report will be created after all business related information is carefully analyzed. The business valuator will often use several different methodologies to determine the value of the business. Methodologies can include investment value, cash value, buyout value and book value.
Valuing a business is an inexact science. The professional opinions of reputable valuators may differ based on a variety of variables. Typically, however, valuations compiled by experienced business valuators will fall within a close range.
Commonly, both parties' Las Vegas Divorce Attorneys will agree upon the selection of the business valuator prior to the start of the valuation process. Without such an agreement, one party may seek the assessment of a second business valuator if they do not agree with the original valuators conclusions. Learn more about Business Valuators
Professional Practice Valuations
Professional practices owned and operated by lawyers, dentists, real estate brokers, chiropractors, doctors, and other professionals are often valued differently than other types of businesses. These businesses require business valuators experienced in valuing professional practices to determine their true value.
Professional practices do not typically include many physical assets, with perhaps, the exception of real estate holdings. Most of the value associated with professional practices is categorized as "goodwill". Goodwill can be valued in several ways. In one sense, goodwill is based on the past performance of the business and the likelihood that that past performance will allow the business to continue to generate income. Goodwill can also be valued based on the reputation the business has earned in the community it serves.
The goodwill value of a professional practice is often directly associated with the owner of the business. This is particularly true when it comes to businesses run by a sole practitioner, whose continued labor is required for the business to generate income.
The value of a professional practice (including its goodwill) is treated like any other asset during the divorce process and thus included in the division of assets between you and your spouse. Las Vegas divorce attorneys Jennifer V. Abrams
, Vincent Mayo
and Brandon Leavitt
are experts at using highly developed business valuation reports to protect your best interests.
"I turned to Attorney Leavitt when my case changed course from what I thought was going to be an amicable divorce to a high conflict divorce. He immediately displayed complete understanding of Nevada divorce law and advised me appropriately on all aspects, both my strengths and weaknesses, of the case. He immediately implemented his strategy changing the course in which my case had initially been headed. Through it all he displayed the utmost professionalism and ethics using both my time and resources (money) in ways that would only benefit my case. I highly recommend him to anyone. He is a straight shooter who will listen, work hard, and most importantly look out for your best interests legally. A big thank you to him and his team."
- Eric A.