Chartered Business Valuators’ Assistance in Divorce Proceedings

- May 16, 2017

Chartered Business Valuators’ Assistance in Divorce Proceedings

The dissolution of a marriage is a time fraught with emotions where individuals rely greatly upon their lawyers to safeguard their interests and the personal worth accumulated during their marriage. Chartered Business Valuators (CBV) can provide numerous services to assist lawyers in preparing for divorce proceedings. The main types of services offered include:

  • Determination of the fair market value of business interests or assets held by one or both parties for the purpose of division of assets. In highly contentious proceedings, a CBV may be retained by each party to determine their own independent valuation. On the other hand, uncontentious proceedings can use only one CBV, who will prepare a joint expertise for both parties. In fact, the New Code of Civil Procedure of February 20, 2014, encourages parties to use a jointly appointed expert, to limit costs and delays;
  • Determination of the fair market value of an individual’s personal net worth and notional income to assist the Court in calculating spousal and child support. As business owners have the control to dictate the amount of remuneration their company pays them, notional income considers all sources of income that could theoretically be paid to an individual as opposed to declared income;
  • Prepare financial cash flow models to determine an individual’s future projected revenues and living expenses throughout his/her lifetime in order to assist in the determination of unfunded expenses and alimony requirements;
  • Perform historical lifestyle cost analyses and investigative procedures to determine potential undeclared sources of income and/or cash;
  • Provide forensic and investigative services to determine potential undisclosed or hidden assets, misappropriation of funds during the marriage;
  • Provide assistance in preparing for negotiations between the parties and participate, as independent experts, in amicable settlement conferences;
  • Provide assistance to legal counsel for the preparation of questions for the cross examination of experts mandated by the opposing party;
  • Serve as a mediator or arbitrator in settlement discussions; and
  • Provide independent expert testimony before the Court.

Raymond Chabot Grant Thornton’s team of Chartered Business Valuators and Forensic Accountants has extensive expertise providing assistance in matrimonial procedures. We can help you quantify and protect your clients’ interests.

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