Property Division: Business Valuation

Legal Help with Business Valuation in Divorce

Chicago Divorce Lawyer Helping Business Owners Reach Property Settlement Agreements in Divorce

Small business is the engine that drives the American economy. But what happens to a family-owned business when a couple gets divorced? And how might a small business, a law practice, or a medical office be affected when a partner with an ownership interest gets divorced.

A business is more than just a source of income; it is a complex asset that must be properly valued and accounted for in the final property settlement agreement. Dividing the value of the business without damaging the business itself requires experience and skill.

Business Valuation: Understanding Complex Assets

For high-net-worth couples with complex estates in which one or both partners has an ownership interest in a business, the first step in dividing assets is to gain a complete and accurate understanding of the assets involved.

At the Law Offices of Jennifer C. Smetters clients can work with business valuators, CPAs, financial planners, and other financial professionals in order to:

• Distinguish marital assets from non-marital assets
• Document and value the marital assets, including a business
• Identify possible options for the disposition of a business: sale, buyout, continued co-ownership, and other alternatives
• Understand the tax consequences of these alternatives, as well as the tax implications of spousal support (also called alimony)

Arriving at Property Division Options that Protect the Business

Once clients have a clear picture of their assets and understand their options, the next step is arriving at a decision regarding division of those assets and management of the business.

If the valuation and division of a family business is contentious and you cannot arrive at a solution, Ms. Smetters is an aggressive advocate, protecting your interests in court. However, many couples find that with the proper support and sufficient information they can arrive at a settlement agreement themselves.

Attorney Smetters provides access to financial professionals and offers support in the decision making process. 

Contact the Chicago family law office of Jennifer Smetters or call 312-360-1166 to learn more about how she can assist you with the challenges of division of a business interest in divorce.