Division of Business Assets
The division of business assets as part of a divorce proceeding is extremely complex and requires the oversight of a skilled family law attorney. The lawyers at Feinberg Sharma possess the legal capability, the business acumen and the experience to ensure an accurate valuation and fair apportionment between the spouses.
Whether the business owner is a sole proprietor, owns the business with other shareholders or the two spouses own the business together, it is likely that the business owner will want the business to continue after the divorce. In instances where both spouses are not owners, it will be necessary to establish an accurate value of the owner’s share and how much of that share should be considered marital property to be divided between the spouses. If the spouses own a business together, there will be a buyout of one spouse’s interest that would be an affect of the property division agreement or a payment made over time, that is secured.
Important Considerations In Illinois Business Division
At Feinberg Sharma, we represent business owners, shareholders and their spouses in a vast array of legal issues involving the division of business assets. We have a comprehensive knowledge of the issues that can arise in the valuation and division of business assets in a divorce, and we are highly adept at navigating these matters to obtain a positive result for our clients in Illinois.
Our family lawyers work closely with business valuation experts, accountants and others who can help us determine what portion of the business should be considered marital property and an accurate value for it. We also have experience resolving complex matters involving existing buy-sell agreements, shareholder agreements and other instruments that may hinder the owner’s ability to transfer or liquidate his or her portion of the business.
Contact FS’s family lawyers to schedule an initial consultation about your concerns regarding the business asset division. You can reach FS family law firm by phone at 312-376-8860, or email us at firstname.lastname@example.org.