Business Appraisals and Divorce
When you create or take over a business, you have a vested interest in its success. You work tirelessly to make it profitable, increase efficiency and position it for growth. At Glasgow, Beattie Olsson of Schaumburg, Illinois, we understand your mission and are ready to be advocates for your business interests in the unfortunate event of divorce.
Business valuations are a necessary component in a comprehensive approach to handling complex divorces. Although there are exceptions, if you started or assumed ownership of a business during marriage, it will be considered marital property and subject to equitable division in a divorce. Without an accurate analysis of a business, true equity cannot be established. Our firm has provided business valuation expertise for numerous professionals and works with reputable partners to provide trusted forensic accounting and independent analysis support.
Understanding the Elements of a Business Valuation in Cook County, Illinois
Our attorneys will carefully evaluate the aspects of your unique situation. Perhaps both parties own a business, built a business together, or one party inherited a business. Your situation will define the level of effort required to perform a detailed evaluation. Proper business valuations involve more than a glance at corporate financials. It requires a detailed study of:
- The history of the business
- The fair market value
- The potential for growth
- The role/contribution of each party
- The concept of goodwill
- The perceived capitalization rate
- The deficiencies and strengths of the business
- The income potential of both parties
No matter what side of the business you are on, we skillfully represent owners and those seeking an equitable share of business assets in divorce mediations or proceedings. We are able to negotiate fair terms for amicable solutions outside of court, but if a trial is the best vehicle for justice, our aggressive representation is unrivaled. Our lead attorney, Mr. Thomas Glasgow is driven by a desire to genuinely help protect the rights of all clients and he demands fair treatment in matters of divorce.
Business valuations require skilled handling, attention to detail and a strong commitment to equity. If you are dealing with a divorce and are concerned about protecting your rights as a business owner or contributor, contact our office today. Our attorneys will take you through the process and help you understand your rights. We serve clients throughout Cook, DuPage and Kane Counties. Our offices are in Schaumburg, Illinois, and we serve clients in Barrington, Barrington Hills, Geneva, Hoffman Estates, Rolling Meadows, Palatine, Wheaton, and throughout Chicagoland. Please call (847) 577-8700 today.