Law Office of Lawrence W. Novack
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Evaluation of Businesses in Divorce

What will come of my business in the event of a divorce?

Searching for an attorney for business evaluation in Palm Desert? If you are considering divorce and you or your spouse owns a business that will be divided as marital assets, then you may greatly benefit from the services of a forensic accountant who will be able to determine the fair market value of the business.

Accounting books from the business itself are insufficient to produce an accurate value of assets. These records take the purchase value of assets less depreciation for tax purposes, but as a spouse, you are entitled to assets based on the fair market value. This is where forensic accounting comes into play.

The California courts have determined that the depreciation expense commonly included in most profit and loss statements are disallowed in most cases when calculating income for support purposes. The California courts do not take into account the fact that businesses lose the majority of their value when the principle owner is no longer the principle owner. In those cases, businesses can become worth little more than their liquid assets. For this reason, it is vital that you employ experienced legal assistance from a firm that understands these issues and can assist you in this process.

How a Palm Desert Divorce Attorney Can Help

Looking for an attorney for a business evaluation case in Palm Desert? At the Law Office of Lawrence W. Novack, I offer aggressive and experienced legal assistance in various divorce and family law matters. I have more than 50 years of experience in handling these cases as a Palm Desert divorce lawyer, and I can put this experience to work for you in your case. I understand the various issues surrounding asset division and business ownership, I know the laws, and quite often I find myself educating the judge presiding over the case of these various issues. Your case is important to me and I have an advantage that few other firms can offer to their clients: experience. Contact my firm today at (760) 585-9065 for skilled representation in your case.