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What Does the Business Appraiser Do?

By Robert E. Schlegel

In many divorces, the 'asset value' of business equity is the largest money piece of the divisible marital pie. Hiring a business valuation expert to appraise the equity, or rights, owned by the parties as of a date in time is normal practice. Yet sometimes there are issues underneath the valuation opinion that 'just do not seem right.'

Often, this can be traced to ignoring or minimizing the influence of the balance sheet while emphasizing the operating (or 'income') statement in market-based or income-based methods. Matrimonial attorneys need to scrutinize business balance sheets in depth and over time, in order to challenge a knee-jerk application of appraisal technique from a novice appraiser. Higher-risk businesses can be overvalued, and lower-risk businesses can be undervalued, leaving 'money on the table' that should have been divided or was perhaps divided in 'illusion.'

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