How the Business Valuation Process Works in Divorce for Illinois Business Owners
Over the course of a marriage, it is common for spouses to work hard to create, maintain and grow a business. Both parties have a share in the business's success or failure. When divorce becomes a reality, it is necessary to value the business in an attempt to properly divide it as an asset.
The DuPage County business valuation attorneys at Andrew Cores Family Law Group, have vast experience guiding clients through this complicated and time-consuming process. It is necessary to take the time to get the valuation done correctly the first time, as asset division cannot typically be addressed as a post-divorce modification.
Experienced Attorneys Working With Experts
Most often, a business valuation comes down to competing experts. Each party's attorney will work with his or her own trusted experts to accurately value the business and even recommend a potential division. We have a great deal of experience with all types of businesses, and have great faith in the skill of our experts. Our lawyers take several steps to ensure that the business valuation is accurate and complete, including:
- Depositions of business partners
- Analyzing bank records
- Comparing competing valuation experts
- Determining passive income
- Investigating tax documents
- Evaluating capital investments in business
Whether your business is a family business or you simply act as a silent partner, it is important to work with a skilled attorney to ensure your rights and your investments are protected.
To arrange a consultation, contact Andrew Cores Family Law Group, by calling 630-871-1002 or by completing our online form. With offices in DuPage County and Kendall County, we have experience helping clients throughout Illinois.
