Most people don’t try to hide assets. However, it’s fair to say that when you own a business and you are getting divorced, you want the value to be as low as possible, because the value of the business will ultimately determine the amount of money you owe the other spouse. Trying to have value of a business be low or lower does not necessarily mean that that individual has to do anything you listed or try to hide information from the other side.
Many times, value of the business can be swung one way or the other based on the argument of the attorneys and the accounting techniques employed by their experts. That’s one of the reasons that attorneys develop niches in specializing in these business cases. Knowing how to review a business valuation and knowing how to argue this specific component that generates the ultimate value is what gives the attorney the ability to push the value up or down depending on which side of the case they are on.
Sonya K. Zeigler is a partner at Stolfe Zeigler, a boutique family law firm that obtains favorable outcomes for high-net-worth, complex, and litigious cases.