As an attorney, you have to do your due diligence. You can’t let someone get away with not being co-operative. I’ve had my forensic accountant and/or business appraiser tromping around on site, at whatever the location is, going through boxes and boxes of badly organized documents searching for the information that he needed to value this business. If that’s what it takes, that’s what you have to do. You also can use a motion to compel production of documents and force the business owner with a judge telling him that he must produce these certain documents by a certain day. That’s something that we use as a last resort.
Often times, and almost every time, the business appraiser is going to want to have the complete QuickBooks files digitally sent to them with the password, and that’s very normal. That’s the best information for that business appraiser to have. That’s the easiest way to get the appraisal going.
Laura Schantz, a Beaverton divorce and family lawyer and mediator has helped clients find creative solutions to complex financial matters involving asset division, spousal support, and child support. To learn more about Laura Schantz and her firm, visit www.oregondivorceattorney.com.