High Net Worth Divorce Lawyer Arlington TX
While any divorce can be complicated, high asset divorces are often complex and require the advocacy of a high net worth divorce lawyer Arlington TX clients recommend, particularly when trying to determine how the couple’s assets and property should be divided. The more a couple is worth, the more difficult it can become. This can get especially difficult if one of the spouses owns a business. How do Texas courts address these financial issues?
In order to ensure that the entire marital estate is divided fairly and equitably between the two spouses, it is critical to establish the true value of all the assets. This is crucial when it comes to valuing a business. There are several ways that your divorce lawyer Arlington TX families trust can use to determine the value of the business. He or she will choose the method that will benefit you the most:
Asset-Based Valuation: This method is pretty basic. It examines all of the assets and the liabilities of the business to estimate how much it would cost to build a brand-new business to the same level as the current business. The problem with this method is that it doesn’t factor in any of the company’s proprietary ideas, name recognition, name reputation, and customer service.
Market-Based Valuation: This method is similar to a real estate appraisal used in determining the value of a residential property by determine a price that a buyer would be willing to pay to purchase the business and what price a seller would accept. This figure is determined in part by using available market data for similar industries and similar companies. Like asset-based valuation, however, this method does not take into account those intangible factors that help set the business apart from its competitors.
Income-Based Valuation: This type of business valuation is also referred to as an earnings multiplier method. This method attempts to determine a projection of future revenues by using the company’s performance of history, as well as industry standards.
Are You Facing a High Asset Divorce?
One of the most difficult issues in determining asset values in a divorce – whether it be for a business or any other property or financial accounts – is ensuring that both spouse’s are being truthful with the financial information they are turning over to the other. Unfortunately, this isn’t always the case and your spouse may attempt to minimize the value of their business or other assets or even hide them. This is why you need a skilled Arlington TX high net worth divorce lawyer from Brandy Austin Law Firm. Our legal team has extensive experience in handling complex divorce litigation and will work diligently to ensure you get the divorce settlement you deserve. Call our office today.