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Assessing the Value of a Family Business in a Divorce

Father and Son

Lawyers sometimes refer to experts that their clients hire to analyze and explain complicated factual issues as “talking heads”. In cases involving high value marital property, talking heads are often a necessity.

Assessing the value of a family business in a divorce usually requires the opinion of a business valuation expert. If a husband and wife own a family construction business or a medical practice, valuing the business or practice is a complicated process. Experts must assign a value to these assets. Assigning a value to a business, however, often includes valuing the assets that the business owns.

  • Construction companies own construction equipment, accounts receivable, the value of unperformed construction projects, and capital accounts maintained to replace hard assets.
  • Medical practices own similar types of assets.
  • Both types of enterprises may have “good will” in the community that is worth money.
  • Medical practices benefit from patient loyalty and the resulting referrals.

The value of a small company or professional practice may depend, in large measure, on the personality and drive of the spouse who is in charge. To come up with a fair value requires an expert with experience in the real world as well as in the courtroom. Such experts do not come cheaply. A decision to hire one and if so whom to hire should be made after thoughtful consultation with your lawyer. The cost of valuation should be weighed against the benefit to be gained in a division of the net result.

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I hired Louis to represent me in my custody battle. From the start he was upfront and honest with me, if he said he was going to do something he did it and he never attempted to settle for anything less than what I was asking. He was not afraid to go head to head with opposing counsel which is what we ended up having to do. Thanks to Louis and his experience and knowledge of family law we won our case. I highly recommend Louis and will always use him for my future family Court needs.
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I had no idea how to even look for an attorney when I found myself needing one. Mr. Cosenza is the best attorney I have encountered, and I took a lot of time finding one. He is brilliant in matters of the law. He approached my case from every angle. I am so thankful he was my attorney. I started out knowing absolutely nothing about court related matters. He answered even my smallest questions and guided me through to understand what was best for me and my children. He was excellent in communication with quick replies. He will have all of my recommendations.
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My journey with Mr. Cosenza began nearly 3 years ago when I contacted him about divorce proceedings. During our initial consultation he told me exactly what to expect and we discussed cost, which I thought reasonable. After retaining him as my attorney and finalizing my divorce, things became fairly intense during the negotiation of the property settlement; yet he was relentless and tenacious. In the end, we prevailed victorious and everything came together perfectly. Attorney Cosenza always responded in a timely manner to my many calls, emails and texts. He gave clear, detailed, rational explanations of what I could expect. His work on my case has been life changing, in the best way possible. I am forever in his debt.
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I would like to start by saying I am from TX and my ex wife tried to file a judgment in LA. I contacted a number of lawyers that explained to me that this maybe a process that they could look into. I spoke with Mr. Cosenza with his 30 plus year of experience and he assured me this was not going to be a issue. He was very informative on the proceedings that where going to take place. He couldn’t have called it any better. There wasn’t even a need for me to travel to show in court. It is definitely worth a little extra to hire one of the best. I hope I hope won’t be needing his help again but if I do need another lawyer in LA. I won’t hesitate to contact him and he will be my lawyer again.
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