Texas Business Valuation Attorney
In order for property to be divided fairly during a divorce, its value needs to be understood. At the law office of Barbara L. Jouette, Attorney, P.C., we have more than a decade of experience that we use to lay the groundwork for fair division of property by properly handling the valuation process.
What Is the Property Worth?
Perhaps you have a couch that originally cost $3,000, and you feel it should be thrown into the community property pool based on that value. However, your spouse says the couch is not even worth $100 now. In the old days, the judge might have split the difference and said it was worth $1,500. Now, there are tools that can be used based on what the couch or a similar couch is actually selling for on Craigslist or EBay. It has become much easier to get accurate values for a wide range of items.
That being said, the relative value of an item needs to be taken into account. Obviously, houses, cars, bank accounts and retirement accounts are of primary importance. In fact, if a divorce case goes to trial, it is likely that the judge will not even count pieces of personal property, like couches and furniture. We take great care to make certain everything is addressed appropriately.
What Is a Business Worth?
The most complex asset to attach a value to is a family-owned business. In many cases, the value of the business is based entirely on the work that the owner puts into the business. Without the attachment to the husband or wife that runs it, it has little value. We will bring in any necessary experts to get a clear understanding of the value of a business so that it can be addressed properly in the division of property.
Free 30-Minute Consultation
For comprehensive, personalized counsel, support and advocacy from a McKinney property valuation lawyer, contact us today. We care about your future. Let us help you move forward.