Common Myths Around Financial Aspects of Divorce #3 - A Business Valuation Will Cost 5-Figures

Hi, welcome to MediatorPodcast.com, a podcast and video series about mediation, negotiation, and collaboration. My name is Melissa Gragg, and I'm a valuation expert and divorce financial mediator in St. Louis, Missouri. Today, we are with Rosalia Labate, and we're discussing myths in divorce. Rosalia is located in New York and is a Certified Divorce Financial Analyst and a Certified Public Accountant. She also provides services such as financial forensics, lifestyle analysis, and business valuations. We've been discussing myths surrounding the financial aspects of divorce. One myth we're going to address today is the belief that a business valuation will cost you five figures. Rosalia, is that a myth, or should it be a legitimate concern?

Podcast episode takeaways:
Myth Debunked on Cost: Business valuations do not always cost five figures; the price varies based on the depth of analysis required and the complexity of the business. Simple reviews could cost less, especially in mediation contexts where full detailed reports might not be necessary.

Different Levels of Valuation: There are levels to business valuations depending on the couple's needs—from basic reviews using tax returns to detailed examinations involving financial statements and underlying records.

Mediation Misconceptions: In mediation, there's a misconception that expensive experts are unnecessary. However, expert involvement can uncover critical financial details such as personal expenses disguised as business costs, significantly affecting settlements.

The Value of Neutrality: Utilizing a neutral business valuator can provide a more balanced and realistic appraisal of the business value, which can be crucial for fair negotiations in mediations.

Importance of Financial Understanding: Comprehensive financial analysis by experts can reveal discrepancies and hidden assets not apparent through simple document reviews, highlighting the importance of professional involvement in financial settlements during a divorce.

Rosalia Labate
https://labatecpa.com/
(516) 996-7788
rosalia@labatecpa.com

Melissa Gragg
CVA, MAFF
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
http://www.ValuationPodcast.com
http://www.MediatorPodcast.com
https://www.valuationmediation.com
https://www.thedivorceallies.com/
Cell: (314) 541-8163

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Common Myths Around Financial Aspects of Divorce #2 - "I Don't Need a Business Valuation"

Hi, welcome to MediatorPodcast.com, a podcast and video series about mediation, negotiation, and collaboration. My name is Melissa Gragg, and I'm a valuation expert and divorce financial mediator in St. Louis, Missouri. Today, we are joined by Rosalia Labate, a Certified Divorce Financial Analyst and Certified Public Accountant located in New York.

Another common thing we hear is, "I don't need a business valuation." Listen to the full episode for why this is a myth.

Podcast takeaways:

Misconception About Business Valuation Necessity:
A key takeaway from our discussion is debunking the myth that business valuations are unnecessary if the financial figures appear straightforward from tax returns. Rosalia emphasizes that underestimating the complexity of a business's worth can lead to significant financial discrepancies in divorce settlements.

The Importance of Specialist Involvement:
We stress the critical role of engaging a valuation specialist early in the divorce proceedings to ensure that all financial aspects are thoroughly analyzed. This is especially vital in complex cases where substantial assets are involved, ensuring that all parties have a clear and accurate financial understanding.

Risks of Non-Professional Valuation:
The conversation highlighted the dangers of relying on non-experts for business valuation, such as attorneys or accountants who may lack the necessary valuation expertise. This can lead to inadequate assessments and potential financial losses.

Verification and Validation Essential:
Trust but verify was a recurring theme, underscoring the need for meticulous verification of all financial data presented during divorce negotiations. This approach prevents potential manipulation and ensures fairness in the valuation process.

Collaborative Approach Between Experts and Attorneys:
Finally, the podcast advocates for a collaborative approach between financial experts and attorneys. This synergy enhances the accuracy of financial affidavits and valuations, providing clients with well-rounded, expert-driven support throughout their divorce proceedings.


Rosalia Labate
https://labatecpa.com/
(516) 996-7788
rosalia@labatecpa.com

Melissa Gragg
CVA, MAFF
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
http://www.ValuationPodcast.com
http://www.MediatorPodcast.com
https://www.valuationmediation.com
https://www.thedivorceallies.com/
Cell: (314) 541-8163


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Common Myths Around Financial Aspects of Divorce - #1 Attorneys Should File Financial Affidavits

Hi, welcome to MediatorPodcast.com, a podcast and video series about mediation, negotiation, and collaboration. My name is Melissa Gragg, and I'm a valuation expert and divorce financial mediator in St. Louis, Missouri. Today, we are joined by Rosalia Labate, a Certified Divorce Financial Analyst and Certified Public Accountant located in New York. She specializes in financial forensics, divorce finances, and business valuations. Although we work in a lot of the same spaces, our approaches differ slightly.

In this podcast series, we will explore three common myths surrounding the financial aspects of divorce. This will be a conversational podcast featuring two financial experts with decades of experience in divorce. We often encounter the same questions from our clients, so we thought it would be interesting to offer different perspectives on these myths.

Today, we'll discuss Myth One, which has been widely debated online, including on platforms like TikTok and Instagram. The myth in question is that an attorney is the best person to file the financial affidavit. Rosalia, could you start us off by explaining this myth, and what exactly a financial affidavit is?

Rosalia Labate
https://labatecpa.com/
(516) 996-7788
rosalia@labatecpa.com

Melissa Gragg
CVA, MAFF, CDFA
Expert testimony for financial and valuation issues
Bridge Valuation Partners, LLC
melissa@bridgevaluation.com
http://www.BridgeValuation.com
http://www.ValuationPodcast.com
http://www.MediatorPodcast.com
https://www.valuationmediation.com
https://www.thedivorceallies.com/
Cell: (314) 541-8163