Marital Dissolution (Financial Forensics)
Cogence Group assists in marital dissolution situations of all kinds, involving parties with business and financial ties across a wide range of industries. Cogence Group has worked for husbands and wives, for the in-spouse or out-spouse, on one side or the other or jointly. Divorce can significantly alter the financial positions of everyone involved. Cogence Group strikes just the right balance between compassion and pragmatic financial analysis.
Our specific divorce division of assets and marital dissolution key practice areas include:
Business Valuations – Value a closely held business or a professional practice owned by one or more divorcing parties
Discovery – Help counsel request the appropriate financial, tax and related documents
Forensic Accounting – Provide forensic accounting services in situations where unreported income and/or undisclosed assets are suspected
Income Determination – Determine income for alimony or child support, often a difficult undertaking when a closely held business and/or investment interests are involved
When a divorce includes a closely held business (including personal and professional goodwill) or a real estate holding company, we have the expertise to value them. If the marital estate includes stock options, pensions, other forms of deferred compensation, employment contracts, or non-compete agreements, we have the proficiency to help with those as well.
Should there be a dispute between the parties that results in a court challenge, you can depend on Cogence Group’s years of expert testimony experience. Our team specializes in providing valuations and supporting expert testimony that stand up to the scrutiny of the trier-of-fact. Cogence Group will be sure to handle your marital dissolution litigation with professionalism, discretion, and timeliness.
In a recent marital dissolution, we were jointly engaged by a husband and wife to value an ownership interest in a retail store operated by the wife. The husband had his own business, which was valued separately. The parties needed the two businesses valued to determine how the remaining marital estate assets would be divided.
In another matter, a minority owner that had been uninvolved in the business for 20 years made a claim of shareholder oppression and demanded to be bought out. Cogence Group provided testimony regarding the claims of oppression to support the compensation of the managing owner and affirm that business transactions appeared to be transacted at fair market value, without any self dealing. As a result, the claims of oppression were denied, and the buyout proceeded with appropriate discounts applied to the minority interest.
Cogence Group has seen it all over the past 30 years. With our experience, we can help!