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Business Owners & Divorce

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Business Owners & Divorce

Business Owners & Divorce

If you or your spouse own a business and are getting divorced, special challenges arise that require the assistance of attorneys with a deep understanding of the finances and the legal impact of the divorce on the existing business. These challenges include:

  • Determining whether the business is “marital” or “non-marital;” 
  • Assigning a value to the business, possibly with the aid of a forensic accountant or other business valuation experts; 
  • Analyzing income statements, balance sheets, cash flow statements, and corporate tax returns to get a real understanding of the income and assets of the business; 
  • Determining whether a non-owning spouse’s contribution to building the business can be factored into the case when dividing up the marital estate; and
  • Analyzing the effect of any prenuptial or postnuptial agreements on how the business will be assigned or handled in the event of a dissolution of marriage.

Experienced Divorce Lawyers in Illinois

The attorneys at SLG Family Law, are experienced in dealing with the complexities of a divorce with parties who own businesses. Contact us for a consultation to assess your case.

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