St. Charles Valuing Businesses Attorney
Valuing a professional practice in a divorce can be extremely difficult. However, at Stange Law Firm LLC, we have the resources to do it effectively and efficiently. Our hard work helps our clients gain an accurate picture of the value of a business. It also helps them determine the right strategy for property division and for moving forward after a divorce.
Located in the greater St. Louis, Missouri, area, our lawyers represent spouses with complex and sophisticated assets in divorce proceedings. We focus exclusively on family law and use in-depth knowledge of statutes and case law to achieve the best possible results.
Challenges to Professional Practice Valuation
One of the reasons valuation of a professional practice can be so challenging is that much of the value is in the individual's contribution, not in merchandise or interests that can be easily divided. Office furniture, outdated computer equipment, business libraries and accounts receivable seldom add up to the true value of the practice — the value brought by community goodwill developed from the intellectual and physical endeavors of the business owner.
When we handle a business valuation, we conduct extensive discovery. The business owner must often provide an extensive list of financial information. The owner must provide tax information, financial statements, balance sheets and reports. For professional practices, business owners must also produce counts of previous, existing and expected patients, practice demographics reports and equipment lists.
Whether or not the business owner has a controlling interest is also a significant issue, potentially changing the value of a business from nothing to a significant amount.
Business valuation experts may also be called upon to lend their opinions and to help make an accurate analysis. Stange Law Firm LLC has the resources to handle even the most complex family law disputes. In complicated matters, we often work with experienced professionals, like accountants and financial planners, to help our clients achieve the best possible results in family law proceedings.
Accountants and financial experts use IRS Revenue Ruling 59-60 to value closely held corporations or the stock of corporations where market quotations are not available. This ruling outlines the general approaches, methods and factors to be considered in valuing professional practices and businesses.
Contact a St. Louis Valuing Professional Practices Attorney
To learn more about our approach to high-asset property division, contact us online or by phone to schedule a free and confidential hour consultation at any of our convenient locations throughout the St. Louis metropolitan area, in St. Louis, St. Charles, Jefferson County and St. Louis City, Missouri, and Belleville, Illinois.
Saint Louis County Office: 314-963-4700 Click to learn more about this location.
Jefferson County (Arnold) Office: 636-296-3060 Click to learn more about this location.
St. Charles Office: 636-940-5900 Click to learn more about this location.
Belleville Office: 618-310-3711 Click to learn more about this location
Saint Louis City Office: 314-499-8340 Click to learn more about this location.
