One of the most complicated aspects of property division in a high net worth divorce is determining the value of a privately-owned business such as a professional practice or family-owned company. Unlike other assets, such as a bank account or vehicle whose value is relatively easy to ascertain, a business may be valued very differently depending on who is doing the valuation and what methods they use. Compared to larger companies which issue stock and are publicly traded, it is much more difficult to determine the value of a smaller, closely-held business. Yet reaching an accurate valuation is of paramount importance to those with interests in the small business.
In a divorce or the dissolution of a business relationship, each party wants to be treated fairly, but may be unsure whether a proposed valuation is accurate. In these matters, it's essential to have an attorney who understands Missouri businesses and business valuation methods.
Many divorce attorneys understand family law, but have little experience in business, particularly in accounting and the complex area of business valuation. An attorney without a business and accounting background will necessarily have to rely on information from other professionals regarding the value of a client's business. In contrast, an attorney who is familiar with these areas will be able to determine if a proposed valuation is reasonable. And in situations where the cost of hiring a valuation professional is cost-prohibitive, having an experienced Missouri business valuation attorney is absolutely critical to a good outcome.
Attorney Jack Cope has over three decades of experience not just in Missouri divorce law, but in business and accounting. He has years of experience working with different kinds of companies in many industries, including manufacturing, retail, and service, and with various small business entities.
Whether you are divorcing and need to divide assets which include a business, or dissolving a business relationship and need to buy or sell a share in the company, it's essential to have an attorney who knows what your interests are worth. An attorney who lacks a solid understanding of business valuation puts his client at a disadvantage; an attorney who understands business operations, corporate governance issues, and valuation principles is in a much stronger position to advocate effectively.
Cope Litigation & Transactions LC is located in Springfield, Missouri and serves clients throughout Southwest Missouri, including Greene and Christian Counties. To learn more about the valuation of various business entities in Missouri and how we can assist you in your divorce or the dissolution of your business, please contact Cope Litigation & Transactions LC to schedule a consultation. We look forward to working with you.