Divorce Business Valuation Attorneys in Columbia, South Carolina
Generally, a business or ownership interest is considered marital property, and will be subject to division as an asset by the family Court in a divorce proceeding in South Carolina.
If you are facing divorce in South Carolina, and a business is involved, an accurate divorce business valuation is extremely important. While the family court may ultimately decide what the business is worth, it is important that you retain a South Carolina Divorce attorney who can help you properly value a small business and/or any other ownership interest and who understands the tax implications that you may be facing.
When evaluating the value of a business or ownership interest in a divorce proceeding in South Carolina, the family court will consider the fair market value of the business based, in part, upon the following:
- The net asset value of the business
- The fair market value for any stock tied to the business
- The earning or investment value of the business
You can be sure that the other side will be ready to present what they feel is an appropriate value. Regardless of whether you stand to receive compensation, or will be forced to pay it out, you need to be prepared so that you can negotiate a fair resolution. Depending upon the financial business valuation, it will likely be important to consider whether to hire a forensic accountant or CPA to help you determine the actual value of the interest at stake. Having a SC Tax attorney who understands accounting, as well as any corresponding tax implications, can ensure that you are prepared and fully understand the financial consequences beyond the final divorce proceeding.
When the husband and wife agree on the value of the business, it’s not a complicated process. No matter whether you own, or are seeking your fair share of, the business, it is critical that you make sure that the business is valued properly and that your attorney understands the tax consequences. Our South Carolina divorce attorneys have experience dealing with complicated property and business valuations and can help you understand your financial future going forward.
Whether you own a:
- Family business
- Professional practice, including a medical or legal office
- Local restaurant or bar
we are here to help. Don’t risk going into court unprepared. Our South Carolina divorce business valuation attorneys have the experience you need to ensure that your financial future is protected. Call us today 803-252-4800.