Wheaton Business Valuation Lawyers

Reliable Attorneys Helping Clients Address Business Assets in Divorce Cases in Wheaton, Illinois

Most assets in a divorce can be appraised in a fairly straightforward manner. However, appraising a business is not always simple. If you have concerns about how your business will be valued and how assets will be divided in your divorce, a Wheaton divorce attorney can advocate for a favorable solution during negotiations and make sure that your rights are protected.

You deserve to have someone on your side who cares about the fate of your business. At Roberts PC, we understand the intricacies of business valuations in a divorce, and we can help you get a fair estimate of the worth of your company. We will work with you to protect your financial interests and make sure you will be able to maintain success after your divorce is complete.

Addressing Sole or Joint Ownership of a Business

In an Illinois divorce, all of your property will be classified as either marital or separate, including your business interests. If you started a business before your marriage or acquired it through an inheritance, it will be likely considered separate property. The business may fall under marital property in cases where you founded or acquired the company during your marriage. If your spouse assisted with the business's daily operations, or if marital funds were invested in the business, it may be considered marital property, even if it was previously a separate asset.

If your spouse has any claim to the business as marital property, then it will need to be divided along with other assets. If you wish to maintain sole ownership of the business, you will be responsible for reimbursing your spouse for their share of the business's value. This reimbursement can be paid out directly through a cash payment or as a greater share of other marital assets during the property division process. Whatever route you choose to take, our attorneys can advise you of the best course of action to protect your business and your finances in the long term.

Methods of Valuing a Business

To determine the fair market value of your business, you might refer to one of three standard methods used in divorces:

• The Market-Based Approach: This method of valuation looks at current market trends to judge the value of your business. The worth of your business will be determined by looking at recent sales of similarly-sized businesses as a point of comparison.
• The Asset-Based Approach: This method of valuation weighs the business's total assets, such as real estate and inventory. Any liabilities will be discounted from the business's value.
• The Income-Based Approach: This method of valuation estimates the business's worth based on its potential to generate revenue. The business's ongoing cash flow and potential for future growth will play a heavy role in its estimated value.

At Roberts PC, we work with business valuators and forensic accountants who can give you a professional appraisal of your business interests. We want to make sure you go into negotiations fully informed so that you can achieve your goals in your divorce settlement.

Protecting Your Business

A prenuptial or postnuptial agreement can be invaluable for preserving your business as separate property in a divorce. As long as you and your spouse voluntarily sign off on an agreement, you can set the terms for how your business will be valued and divided, if at all. Additionally, if your spouse has an equal claim to the business as a partner, you might decide to continue to run the business together so as not to interrupt your day-to-day operations.

If you cannot reach a fair agreement outside of court, our attorneys are prepared to protect your business interests in a divorce trial. We can act as aggressive advocates on your behalf, arguing for a resolution that serves your needs.

Meet With a Wheaton, IL Business Valuation Attorney

Valuing and dividing your business assets should be done with care. At Roberts PC, we have experience working with business owners in high asset divorces and other complex cases. Our divorce attorneys have over four decades of experience practicing law, so you can take comfort in knowing your case will be handled by a seasoned professional. To schedule a free consultation, call us at 630-668-4211 or contact us online.