Appraisal Witness: Qualified Expert

Appraisal Witness: Qualified Expert

Divorce Appraisal of Business Assets

Divorce Appraisal of Business Assets is imperative to avoid much litigation. Divorce creates many problems, one of which is the division of assets. When business is involved, it can become even further complicated, which is why a divorce appraisal of the business should conducted during divorce proceedings. Even if the business is held in the name of a single spouse, if the business was purchased, financed or improved upon during the marital period, both parties are entitled to an equitable division.

It is not unusual for only one spouse to be actively involved in the business, which is why a divorce appraisal is necessary. Whether purposely or not, that partner will usually underestimate the value of the business. If the inactive business spouse fails to ensure that a divorce appraisal is undertaken, they may find in the future that they have not received a fair distribution of the marital assets. It is likely to cost you more financially to forego a divorce appraisal, rather than paying the upfront cost of a divorce appraisal to be conducted during divorce proceedings.

Cases over the years, where one spouse has taken the word of their partner about the estimation of a business, and failed to instigate a divorce appraisal, clearly demonstrate the risk you take in failing to ensure a divorce appraisal is undertaken.

A prime example is a case where the husband informs the wife that the business is worth 2 million. Wanting to get divorce proceedings over quickly, the wife agrees to a division of assets based upon the figure indicated by her husband. Once the divorce was finalized, the business was then sold for 12 million,  far more than the estimate originally given to the wife.
Had a divorce appraisal be conducted, this situation would not have occurred. And though a lawsuit can be brought against the ex-husband, it is unlikely to be successful when no divorce appraisal was undertaken during divorce proceedings.

To ensure that you don’t end up in the same situation, it is important that should you be undergoing a divorce, you seek a divorce appraisal to ensure that all assets are valued and distributed fairly. While you might believe that you are saving money by foregoing a divorce appraisal, it is likely that you will actually be losing money.

An accredited divorce appraiser will provide you with a detailed analysis and reports, which is important even during civil divorce proceedings. It is also possible to choose a joint appraiser, so that both parties are able to split the cost of the appraisal. In either case you will need an expert appraisal witness to give irrefutable testimony should the appraisal need to be defended.

Accredited appraisers will follow the USPAP 2012 rules and regulations when conducting a divorce appraisal, so even if two different appraisers were to conduct an evaluation of the same assets, the values they arrive at may not be exactly the same, but should be fairly close.

Whether it’s a corner store, or a multi-million dollar business involved, a divorce appraisal should always be conducted once divorce proceedings begin, to ensure equitable distribution occurs.

Durkin Valuations Associates Has:

  • Seven Senior Professional Appraisers Nationwide
  • 70 years combined valuation experience
  • Acreditations; ASA, NAPA, GPPA
  • USPAP 2012 – 2013 Cpmpliant

Give us a call at (617) 720-0332.

Expert Appraisal Witness
  1. (required)
  2. (valid email required)
Please answer the Human verification question.

cforms contact form by delicious:days

divorce appraisal,appraiser

Technorati Tags: ,

Be Sociable, Share!

Leave a Reply

This RSS feed URL is deprecated, please update. New URLs can be found in the footers at

JD Supra (press release)

No Arbitration for Insurance Disputes in Puerto Rico
JD Supra (press release)
If the insured and the company fail to agree as to the amount of loss, either way, within 60 days after proof of loss is filed, demand an appraisal of the loss. In such event the insured and the company shall each select a competent appraiser, and the ...

and more »

Appraiser to evaluate city-owned artwork
The Republic
An appraiser will evaluate city-owned artwork to determine its value for insurance purposes. Columbus Board of Works members agreed Tuesday to hire Appraisal Associates International in West Lafayette for an amount not to exceed $5,000. The firm will ...

JD Supra (press release)

Iowa Supreme Court Addresses Scope of Appraisal Process
JD Supra (press release)
Notwithstanding this laudatory purpose, the scope of the appraisal process itself can frequently lead to litigation. In Walnut Creek Townhome Association v. Depositors Insurance Co., 2018 Iowa Sup. LEXIS 57 (Iowa 2018), the Supreme Court of Iowa faced ...

JD Supra (press release)

Texas Court Holds That Unpaid Appraisal Award Does Not Conclusively Establish Causation or Damages in Hurricane ...
JD Supra (press release)
In that case, Houston's Fourteenth District Court of Appeals addressed whether an unpaid appraisal award established an insurance company's liability under a named-peril insurance policy as a matter of law. In analyzing and applying the Supreme Court ...

Giving Life Insurance to a Charity
The other surprise facing donors of life insurance policies is the requirement to have a formal appraisal for a donation worth more than $5,000. This is especially irritating seeing that in many of these situations, the policies are modest and the FMV ...

Allied Advantage Insurance Services Announces Charity Drive to Benefit Illinois Families Living with Autism
The Gatto team is asking all residents of the Will County region to be part of the charity campaign by referring friends or family members into Allied Advantage Insurance for a complimentary insurance appraisal. All appraisals are provided without cost ...

and more »

Pritchett Insurance Announces Charity Drive to Provide a Head Start to Underprivileged Students
During the course of the campaign, Pritchett has pledged to issue a $10 donation to Head Start in the name of every person who refers in a friend or loved one for a complimentary insurance appraisal. More information on how to help generate support for ...

and more »

Insurance Protection Specialists Launches Charity Drive to Benefit Veterans in the Jackson Region
... charity drive, and the firm has implemented an invitation system to help generate donations. During the event, Howell has pledged to make a $10 donation to Wounded Warrior for every person referred into the firm for a complimentary insurance appraisal.

and more »

Insurance intermediary market will further open up to foreign investors
China will allow qualified foreign investors to engage in the business of insurance agency and the business of insurance appraisal in a few months. In the meantime, foreign-owned insurance brokerage companies are to be allowed to expand their business ...

Jusino Insurance Services Unveils Charity Drive to Empower Inner City Youth in the Chicago Area
Jusino has pledged to make a $10 donation in the name of anyone who refers a friend or loved one into Jusino Insurance Services for a complimentary insurance appraisal. Readers who wish to take an active role in supporting this charity drive are ...

and more »

Google News

Copyright © 2008, 2009, 2010, 2011, 2012 All rights reserved.