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Business Valuation – Tips for Family Lawyers (Part 1)

5 Quick Tips from the Trenches *

Start Early: A business valuation analyst needs to be brought in early in the case to help with identification of information and documents during the discovery process. Sufficient and reliable data is needed for correct valuation results. Business appraisers have comprehensive lists of documents that are needed in a valuation, and they contain more than just financial statements and tax returns.

Credentialed Appraiser: Hire the best appraiser your client can afford, and make sure he or she is credentialed. The valuation credentials come from the following organizations: Canadian Institute of Chartered Business Valuators (CICBV), American Society of Appraisers (ASA), Institute of Business Appraisers (IBA), and National Association of Certified Valuation Analysts (NACVA). Credentialed experts have to follow professional business valuation standards.

Keep Your Expert in The Loop: After retaining a business appraiser, keep him or her informed in the developments in the case; attempts to settle, depositions, relevant dates, and deadlines – and if such dates are pushed, because there may be conflicts in the appraiser’s schedule.

Settlement Help: If the report of the opposing party’s expert is available early in the process, a review and critique of that report by your expert may help in negotiations to settle the case. If the report is reasonable, then your client may benefit from settling the case early and save resources.

Prepare for Testimony: Work with your appraiser to make sure that you are on the same page regarding the important facts of the case. Not being informed about key aspects in the case may make the appraiser appear unprepared and lose credibility. Communicate with your expert and prepare accordingly.

Malahat Valuation Group provides litigation support for family and corporate attorneys, we act as independent experts and/or valuation advisors helping lawyers and their clients navigate business valuation issues and pitfall.

Malahat Valuation Group

PROVIDING VALUE PERSPECTIVES - helping clients see the “true” value


*Excerpt taken from - Tips for lawyers May 11, 2016

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