High asset cases bring particular challenges when spouses seek fair valuation for purposes of community property distribution.. Cases involving large businesses and assets generally require detailed accounting and valuation; this can be costly and time consuming. Additionally, it is essential to obtain the skills of reputable and experienced experts. Often, there are tax consequences involved and it is essential to reduce tax liability to a minimum. At Neumann Family Law, APC Family Law Attorneys, we utilize the services of economists, Certified Public Accountants and other valuation experts in order to come to an accurate and fair assessment of the assets involved. If you are going through a divorce or are contemplating a dissolution of marriage, the divorce Attorneys at Neumann Family Law, APC are prepared to help you with all aspects involved, including dividing high asset businesses and holdings.
Essential Steps Must be Taken Before Division
In all marital dissolution’s, property must first be properly characterized and valuated before it can be divided. Complex marital estates almost always require the expertise of accountants, economists and tax experts, as well as other professionals, to determine the value of the assets and holdings. This process is often time consuming, expensive and arduous. It is necessary in most instances, however; otherwise it may cost one or both spouses a significant amount. Contact our offices to discuss your particular case.
Businesses May Include Tangible and Intangible Assets
As noted in the previous discussion pertaining to division of business entities, business assets may vary considerably. Some assets are tangible and others are intangible. In most cases, but not all, tangible assets are easier to assess:
- Cash
- Property
- Machinery
- Equipment
- Inventory
- Account receivables
Intangible assets are often extremely difficult to assess and include assets that may be income producing in the future:
- Patents
- Trademarks
- Copyrights
- Business relationships
- Unique skills
- Product development ability
- Business development in progress
- Many other
Valuation
As stated in the previous discussion of division of business assets, there are three basic approaches to measuring assets:
- Asset – value of asset minus liabilities
- Income – determining future income
- Market – determining the worth of the business in the present marketplace by comparison to other similar businesses
These are complex procedures that are utilized by skilled accountants and tax experts. Please consult our office to discuss how we may help you in complex high asset division.
Testimonial From a Client
- “Ms. Yelman. Please accept my genuine appreciation for the attention and expertise that you have devoted to my family law case. You and your staff were extremely responsive and sensitive to the complex requirements of my case. Although family law cases can be difficult and emotionally draining, my experience with your office was always positive and very educational. You were instrumental in helping me stay focused on the important issues of my case and I was equally impressed with your pre-trial preparation and courtroom execution. I am exceedingly pleased with the results that you achieved and I am happy to say that your diligent efforts on my behalf will benefit my family not only now but in the immediate and long term future. Initially I was very selective when choosing an attorney to represent me and I realize now how important that decision really was. Thank you again for providing invaluable service and helping me effectively cope with a complicated legal and emotionally trying experience.” M.M. San Diego
- “I could write volumes about the highly professional service provided by the Yelman law firm in my divorce. I will be direct: the firm was not my first choice. I began the process with another firm that simply did not perform. Details had not been handled initially, but Tara Yelman and her staff took over, very quickly fixed all the deficiencies and handled a very complicated case with a relentless precision that brought the case to what I believe was a very fair settlement without a costly trial. Tara Yelman herself possesses an incredible energy in her approach, as I witnessed at each step in hearings, filings and organization. Different phases of my case were delegated to other attorneys and staff members and they all did great jobs. The firm was always responsive to any concerns I had.” G. San Diego, CA
Complimentary Phone Consultation With a High Asset Cases – Complex Division Law Attorney
Marital estates that have a high net worth usually require extensive attention in all areas, including characterization and valuation. At Neumann Family Law, APC we utilize the skills of tax experts, economists and Certified Public Accountants in order to accurately assess and fairly divide the marital property. These are extremely involved cases and while it may be quite tempting for a spouse to accept an amount that was calculated by the other spouse’s accountants, this is not recommended. We will look out for your best interests. Contact the Neumann Family Law, APC Family Law Attorneys for a Complimentary phone consultation. Call us at (619)282-1107, or (760) 480-8400.
“You and you entire staff are the dream team and I am thankful for all you do!! Thanks to every one of you!!” -C.O
