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Barbara L. Jouette, Attorney, P.C.
888-268-7997 / 214-385-4562

Accurate child support can rely on appropriate business valuation

When two people separate, sometimes the most valuable asset is the family business. It can be challenging to determine the exact value of a business and also to decide how it will be handled in a divorce. For some individuals in Texas, the value of the business can affect the amount of calculated child support payments. 

One question may be what is the business worth? Also, is there a concern about double dipping, and is the spouse who owns the business deceptive about his or her income? There are various methods to establish the value of a business, and they all start with an analysis of the company's financial statements. A trained professional will be able to review the business records to discover more financial information. 

If there is a concern about double dipping, or a concern that the other spouse may be trying to hide income, more investigation may be needed. Solutions will depend upon state law to determine what is allowed to be claimed as an asset or an expense. Again, business valuation experts would likely be useful in detecting any irregularities. 

An accurate picture of the family business can help an individual ensure that the proper amount of child support payments is available. Some Texas parents may be wondering how to begin the process of receiving support payments for the care of their children. Many individuals choose to hire an attorney for help and guidance through a child support negotiation. If an agreement cannot be achieved, the attorney can pursue the mater in family court on the client's behalf.

Source: wealthmanagement.com, "Three Pressing Issues For Business Owners Going Through a Divorce", Mark Gottlieb, Jan. 30, 2018

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Accurate child support can rely on appropriate business valuation | Barbara L. Jouette, Attorney, P.C.
Main Menu Practice Areas
Barbara L. Jouette, Attorney, P.C.
888-268-7997 / 214-385-4562

Accurate child support can rely on appropriate business valuation

When two people separate, sometimes the most valuable asset is the family business. It can be challenging to determine the exact value of a business and also to decide how it will be handled in a divorce. For some individuals in Texas, the value of the business can affect the amount of calculated child support payments. 

One question may be what is the business worth? Also, is there a concern about double dipping, and is the spouse who owns the business deceptive about his or her income? There are various methods to establish the value of a business, and they all start with an analysis of the company's financial statements. A trained professional will be able to review the business records to discover more financial information. 

If there is a concern about double dipping, or a concern that the other spouse may be trying to hide income, more investigation may be needed. Solutions will depend upon state law to determine what is allowed to be claimed as an asset or an expense. Again, business valuation experts would likely be useful in detecting any irregularities. 

An accurate picture of the family business can help an individual ensure that the proper amount of child support payments is available. Some Texas parents may be wondering how to begin the process of receiving support payments for the care of their children. Many individuals choose to hire an attorney for help and guidance through a child support negotiation. If an agreement cannot be achieved, the attorney can pursue the mater in family court on the client's behalf.

Source: wealthmanagement.com, "Three Pressing Issues For Business Owners Going Through a Divorce", Mark Gottlieb, Jan. 30, 2018

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