How to Determine the Value of Your Assets
Third step is to value the assets. And in many estates, that's a very easy step. Bank statements can show what the value of a bank account is. Oftentimes, houses or other real estate is easy to value. We can either hire an appraiser or we can agree on a value of the house or we can obtain comparables from realtors to obtain a value. So, those are pretty easy. In situations where we have closely held business interest, those might be a little bit more challenging. Oftentimes, we engage business valuation experts to value the closely held business interest. It's also important for the lawyer to have a thorough understanding of business valuation methodologies and Texas Case Law as it relates to that topic.
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