The presence of a family business or a business owned by one spouse adds a level of complexity to divorce proceedings in Illinois. Business valuation is an intricate process that should be undertaken by an experienced family law attorney with the assistance of expert professionals such as business valuation experts, tax experts and forensic accountants.
Arlington Heights, Lakewood and Barrington Marital Asset Division Attorneys
At Manassa Hartman, P.C., we work to protect our clients who own their own business or have interests in a business during divorce. To discuss your business valuation and property division needs with an accomplished, experienced lawyer from our firm, call us at 847-282-4051 or 815-384-2238 for a free consultation.
To better serve our clients, we have multiple convenient office locations - Barrington and Crystal Lake - representing clients in Cook, McHenry, Lake, Kane and DuPage Counties in such towns as Arlington Heights, Lakewood and Palatine.
Is the Business Marital Property?
In many cases, a business that was one spouse's personal asset before the marriage can remain separate property during and after the marriage. In that case, the appreciated value of the business during the marriage may be subject to division as marital property during the divorce. If the non-business owner contributed nothing or very little to the business venture during the marriage, the property may not be subject to division.
Accurate Business Valuation
If all or part of the business is considered marital property, it is crucial to make sure a proper business valuation occurs. Spouses will often attempt to have a business assessed at an inflated value in order to drive up the share they receive during property division. We work with highly acclaimed experts to determine the true value of a business so that your assets are protected.
Your Best Interest Is Our Primary Concern
We have the experience and skills necessary to handle your business valuation case. If you are seeking to protect your interests regarding a business in divorce, contact our Barrington business valuation attorneys for a free consultation.
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