Divorce cases become even more complicated when there are business interests (on top of property and children) that exist between the two spouses, or more often, owned by one of the parties (usually the husband). Invariably the owner thinks that the business is worth less than it actually is, and the spouse thinks it is worth more. Our remit is to determine its true value.
The business owner may conspire to make the business appear to be worth as little as possible, while the spouse seeks a true value of the business so that they can receive a fairer share of the pot. At this point it is important to independently establish what the true value of the business is and the key here is to determine what true profitability is after assessing non-direct business expenses, accounting adjustments, estimates and costs related to the working directors.
Frenkels Forensics are often called upon by solicitors and barristers to investigate all business elements and we work very hard to present an unbiased but true account of the business and its market value for presentation to the courts.
In one such case we were brought in as the jointly instructed expert by the firms of solicitors representing both wife and husband, to accurately value the husband’s business – taking in to account all factors that were put to us in evidence, in support of their respective positions.
Here we had to prepare an expert comprehensive report taking the submissions from husband and wife in to account. We reviewed the all available accounts and underlying records, held discussions with the directors, researched similar businesses as well as taking may other factors into account. We then provided a value for the business in a report suitable for use in Court. In this case Frenkels’ valuation was accepted by both sides and the divorce was brought to a fair conclusion.
For expert help in divorce matters contact Frenkels Fornensics for an expert and independent appraisal.
We can help assist individuals, lawyers, barristers and accountants in determining unbiased valuations for all types of business enterprises held between divorcing partners.
By Vitek Frenkel – find me via Google+