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Agreeing on the Value of a Business

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With regard to assets, it’s pretty safe to say that judges are going to be pretty accepting of and approving of any agreements that the parties want to reach when it comes to the value of an asset. But you really have to know what you’re doing in order to agree on the value of a business. It’s a very complicated question; there’s several different methodologies and if one party is suggesting that well, let’s agree on the value of the business, otherwise all of our attorney fees and expert fees are going to be so great. The other part you should really be considering, whether the person suggesting that knows a lot more than they do about the value of the business. And in that instance should proceed very cautiously about agreeing to anything when it comes to the value when the person agreeing is not an expert and doesn’t have any particular expertise in the industry.

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Minneapolis family law attorney Laurie Mack-Wagner describes why stipulating to a valuation of a business is not a good idea.

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