The family law business valuation process, questions answered

A Settlement Valuation is delivered as a signed report in 2 business days for annual turnover under $2 million, or 3 business days from $2 million to $10 million, once payment and all required information have been received. Over $10 million, and for a Family Law Expert Valuation, the delivery date is agreed with you before work begins, and it runs from payment and complete information. The time starts when the document checklist is complete, not when the enquiry is sent. One round of factual corrections is included. Where a draft is not permitted under the instructions for an expert report, the final report is issued instead.

Before a report is finalised you receive a draft so that errors of fact can be corrected: a figure we have misread, an ownership percentage that is wrong, a document we were not given. Both reports include one round of factual corrections. The review is for facts only. The methodology, the weighting of risks and the conclusion are the valuer's and are not open to negotiation. Where a report is prepared as expert evidence, the handling of drafts and clarification follows the instructions and the applicable expert-evidence requirements.

Usually not for a Settlement Valuation, which is prepared from the documents and, where needed, a call with the owner or an adviser. Some businesses are better understood in person, particularly where plant, stock or premises matter to the value, and we will say so during scope review. Meetings are available by appointment at our Double Bay office in Sydney.