We Wish We Had Known….
Going to court for any reason is a stressful experience. Expert witnesses assist the trier of facts (a judge and/or jury) to reach a decision. We serve as expert witnesses in cases involving valuation. Disputes between owners, divorces, and tax matters are most common. The legal process can vary depending on jurisdiction, but in almost all cases, you must declare your expert witnesses early in the process.
Reliable valuations take time for thorough analysis and the courts usually require a written report during the discovery phase. In short, you cannot hire a valuation expert a week before appearing in court. We have had potential clients call for help, only to learn from their attorney that it is too late to serve their valuation needs. The typical response is “We wish we had known about your sooner….”
Some disputes can be proactively avoided by having valuations done as a regular business practice. When valuations are conducted regularly under normal circumstances, there is less to argue about when relationships take a turn for the worse.
We recommend that business owners discuss valuations with their attorneys and accountants. An appraisal report can serve as a foundation for planning decisions. We welcome your inquiries and can arrange conference calls involving business owners and their advisors to address your concerns.