Business Valuation

Business Valuation

Determining the Proper Value of a Business in Illinois Divorce Cases

The challenges of dividing marital property become much greater when a business is involved. For families with closely held businesses or couples in which one or both partners has an ownership interest in a business, the first important step is to understand whether it is a marital asset and, if so, its proper value.

At the law office of Kathryn L. Harry & Associates, P.C. divorce clients work with business valuators, CPAs, and other financial professionals to:

• Identify business assets
• Determine which assets are marital and which are non-marital. (Just because a business was owned before marriage that does not mean it is non-marital property. If the business has increased in value during the marriage, a portion of that increase may be considered a marital contribution.)
• Establish the market value of the business entity and inventory
• Identify possible options for accessing or disposing of business assets and the possible tax consequences

If you are considering divorce and need sound legal guidance to understand your rights and options in valuing your business for purposes of property division, contact the divorce lawyers at Kathryn L. Harry & Associates, P.C. Your initial consultation is free.

Protecting Your Business - Protecting Your Financial Future

Profits from a business are typically crucial for both members of the couple to maintain their financial lifestyle. The attorneys at Kathryn L. Harry & Associates, P.C. work with clients to understand their options regarding the division of business assets and future management of the business. Contact the divorce attorneys at 630-472-9400 for your free consultation.

When possible, they work to help the couple resolve these issues amicably through the use of alternative dispute resolution methods, such as mediation, negotiation or collaborative law. Among the benefits to be gained from these processes:

• Access to expert resources for business valuation
• Generally a more timely resolution, which can be important to a business
• Privacy, which allows the decisions made regarding the business to be kept out of the public eye

The law firm of Kathryn L. Harry & Associates, P.C. has more than 15 years of experience assisting in business valuation and the resolution of complex property division. You can trust Kathryn L. Harry & Associates, P.C. to provide you with a well-crafted property settlement agreement that takes both personal and business matters into consideration. Contact the Oak Brook law firm today at 630-472-9400 to discuss the fair division of your marital property.

For more information, please visit our Divorce Information Center.