Elgin, Illinois Business Valuation Attorneys
Experienced High Asset Divorce Lawyers Assisting Clients in Kane County
When a business is a part of the marital estate, the already complex process of dividing marital assets becomes even more complicated. An accurate valuation is needed to ensure that the business and remaining marital estate are divided equitably. At Pucci Pirtle, we understand the complex nature of business valuations. Our attorneys also recognize that diligence and accuracy are critical in securing a favorable settlement. We will fight to protect your businesss future, or, if required, to ensure that you receive an equitable portion of the business's value in and out of the courtroom.
Business Valuation and Divorce Attorneys
Accurately valuing a business requires more than simply determining its fair market value. Assets, debts, and other factors, such as the businesss future earning potential and each party's relationship to the business, must be considered as well. Our attorneys work hard to ensure that all relevant factors are carefully considered in the business valuation process. We advise you on your options, take the time to answer your questions, and provide you with the comprehensive services you deserve during your high asset divorce.
Dividing Your Illinois Business
Just like all other marital assets, businesses in Illinois must be equitably divided between both parties. However, a business does not have to be sold to achieve equitable division. This is just one option. Spouses with an amicable divorce can choose to run the business together, long after the divorce is finalized. Alternatively, one party may choose to take ownership and give up a share of the marital estate that is equal to the value of the business. This compensates the other party for their loss in the business interest but allows the business to continue operating.
Our attorneys can help you determine which business valuation option might be most appropriate for your divorce. We offer skilled legal guidance and counsel to ensure you have considered all relative factors, including:
- The value of your marital estate, excluding the business;
- Future growth and earning potential of the business;
- Time and resources needed to run the business independently (if previously ran jointly);
- Personal interest in the business;
- Desire to keep the business versus realistic expectations; and
- Tax implications.
At Pucci Pirtle, we are committed to protecting your best interests. We take the time to ensure you have the knowledge and insight you need to make a sound, well-informed decision about the future of your business. Get the skilled, quality representation you deserve. Contact us at 847-426-1866 in Elgin, IL or 630-945-8807 in St. Charles, IL today and schedule your free initial consultation. We proudly serve clients throughout Kane, McHenry, and DuPage Counties.