Kane County Business Valuation Attorneys
Experienced Business Valuation Lawyers in St. Charles, IL
If you are a business owner or have an interest in a business, your business may become a part of your divorce. Businesses that are considered marital assets are subject to division when the marriage is dissolved. In order to ensure that business interests are divided fairly in a divorce, a proper business valuation must be performed to determine the business' worth. At Shaw Family Law, P.C., we are experienced in handling divorces involving business interests. We will ensure any and all businesses included in your marital assets are properly appraised and the value equitably distributed.
Representation for Business Valuations in Kane County
Any assets that are acquired during a marriage are considered marital assets and can be divided between spouses in a divorce. Before anything can be divided, however, the court must know how much it is worth. Consequently, a business valuation must be performed. Our firm has relationships with experienced financial professionals that can provide an accurate valuation of your business. Often the opposing side will also commission a business valuation. If there is a dispute over the value of the business, it is up to the judge to determine which valuation is most accurate. Our attorneys are experienced in handling these situations in court. We have the skills to effectively advocate for our clients interests and successfully defend the business valuations presented by our experts.
Distributing Business Assets in a Divorce
When a business has been properly valued, it can be included in the property division process. There are a number of ways to handle distributing business interests in a divorce including:
- Both spouses decided to retain their share of the business and remain partners. If spouses can effectively and amicably work together following the divorce, this may be an option.
- One spouse retains all of the interests in the business and "buys out" the other spouse with other marital assets. This is common when the business interests are professional practices, family businesses, or businesses that one spouse operated exclusively and wishes to continue operating. There must be sufficient marital assets to offset the value of the business, however.
- Selling the business and dividing the proceeds.
Other creative scenarios to divide business interests can be negotiated as well depending on the type of business and the status of the relationship between the spouses. We are experienced in negotiating and litigating these matters. We listen to your priorities and strive to achieve your objectives to the greatest extent possible.
If you are dissolving a marriage and business interests may be included in your marital assets, contact Shaw Family Law, P.C. by calling 630-206-3300 to schedule a free consultation. We will meet with you to discuss the circumstances of your divorce and how business interests factor into the property division process. Our consultations are strictly confidential. From our office in St. Charles Illinois, we work with clients throughout Kane, Kendall, DeKalb, and DuPage Counties.