Chicago Divorce Lawyers
Before you can divide assets and debts at the time of divorce, you must first determine their worth. What is a business valuation? Business valuation is one of the most complex aspects of the divorce process in Illinois, often requiring the input of forensic accountants and experts in appraisal and assessment. You also need a family law attorney who can defend the findings of these experts in court in Illinois.
Boyle Feinberg Sharma (BFS), with offices in Chicago and Arlington Heights, Illinois, vigorously represents people in divorce cases involving ownership of businesses. When you retain our family law firm, we will work with discipline and determination to protect your rights and interests.
Call BFS’s family lawyers for Business Valuation Services in Chicago and Arlington Heights at 312-376-8860 to schedule a consultation about your case.
Valuing A Business During Divorce in Illinois
If the business is clearly marital property (acquired during marriage), it will be subject to division. Our forensic accountants know how to calculate business valuation. A valuation must still be made in order to divide the business in a fair and equitable manner.
Valuation of a business involves assessing the nature and longevity of the business, its current economic outlook, its net worth, its earning capacity, whether stocks and dividends are involved, and comparisons with similar businesses.
Questions You Must Ask Yourself
Do you want to hire separate accountants, or save money by using the same one?
Do you want to continue sharing ownership? You can divide responsibilities so you don’t have to work together.
Does one of you want to buy the other one out?
Do you want to sell the business outright and divide the proceeds? This approach allows you to start new lives without having to deal with old business?
Whom We Serve
The clients of Boyle Feinberg Sharma (BFS), include owners of small businesses, partners in professional firms, owners of hard-to-appraise collections and unique items, and persons with substantial savings and investments in Illinois. Their goal, understandably, is to preserve as much as possible of the wealth they have built up in their lifetimes, to limit taxation, and especially to prevent harm from coming to businesses that are providing a livelihood to many.
Serving Chicago · Arlington Heights · Barrington · The Entire North Shore
The North Shore family lawyers at Boyle Feinberg Sharma (BFS), are experienced at business valuation in divorce. Contact BFS’s family law attorneys at 312-376-8860 or 847-394-3940.