Whilst both spouses are sometimes genuinely involved in a business it is much more common for one spouse to be primarily involved. For the spouse who is not involved in the running of the business, who may have little knowledge of the business and its value, we can help ensure that you achieve your fair share against the value of a business in divorce.
With good professional advice, both legal and financial, it is quite possible to find out all that you need to know about your spouse’s business, such that you are in a position to consider key aspects including:
Perhaps you do not believe either the value of the assets or the true levels of profitability declared by your spouse and it is not uncommon for a former partner to cynically seek to reduce either or both.
This can lead to major differences. In such a situation it may be necessary to carry out an investigation in order to identify the true income and/or business value.
It is often the case that either small companies or partnerships have not been audited and therefore not been subjected to the same scrutiny as larger businesses that are regularly audited.
It can be important to consider whether there may have been a deliberate attempt to mis-represent the figures presented by a spouse and/or his/her advisers not only in business but personally and investigation of the business and Form E figures can generally include a number of areas such as:
It is very important that the spouse not primarily involved in the business takes expert advice in order to ensure that he or she is receiving a fair representation of the business’ value.
If you would like to discuss your particular circumstances with a view to valuing your spouse’s business, please call Malcolm Coomber on 020 8652 2450 or email firstname.lastname@example.org