A large part of Ms Geiger's work is composed of law practice valuations.
Valuations are included as an integral part of the services Ms. Geiger undertakes when selling a law practice.
There are other situations where a valuation may be desired:
1. The selling lawyer has identified an existing purchaser, whether it be a partner(s), a junior associate or a third party. In such cases Ms. Geiger can help to determine the appropriate sale price, as well as providing basic information about the "typical" terms of a transition.
Ms. Geiger no longer practices law and does not provide legal advice nor does she draft Letters of Intent or Buy-Sell agreeements; however, she can refer you to lawyers with expertise in these areas
2. A valuation of a law practice is required in a family law matter, where the lawyer and/or their spouse may consider the law practice as a potential asset and subject to division of property. Ms. Geiger has experience in preparing such valuations and in acting as an expert witness in matrimonial law cases.
The financial information required to prepare a valuation is five years' of financial statements; Ms. Geiger can also work from income/expense, accounting or tax records.
There is additional information gathered about the practice both through a standard questionnaire as well as discussions with the seller, their accountant or other advisors to ensure that all aspects of the practice and its value are considered.
At present Ms. Geiger typically charges $4,500 plus HST for a valuation. If there are any special circumstances which make the valuation particularly complex the fee may vary somewhat. In particular if there are more than 2 lawyers in the practice a higher fee will be applicable. The range is $4,500 for a one lawyer practice up to $7,500 for a multi-lawyer practice.
Valuations are performed at no additional charge where Ms. Geiger is acting to market and sell the law practice