KWERY:
My husband and I have been in divorce litigation for a couple of years now, and my business has suffered badly because of the recession. As a result, it’s worth a lot less now than it was when we started the divorce action. Am I looking at having to share a value which no longer exists?
RESPONSE:
This is a very difficult area, with no simple answer. Generally speaking, if the decline in value is substantial and expected to be somewhat permanent (as contrasted with the value is down somewhat today and will come back tomorrow), then you and your team need to put forth, if you will, your worst foot and show that value is really down, and convince the other side (or the Court) that it would be inequitable to expect you to carve up a value which no longer exists.
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