Palatine Business Valuation Attorney
DuPage County Divorce Lawyer for Clients with Business Interests
When a marriage comes to an end, there are a large number of factors that must be considered during the divorce process. Working through them all can be time-consuming, confusing and, at times, overwhelming. The Law Office of Nicholas W. Richardson, P.C., assists individuals and couples throughout the Northwest Suburbs of Chicago in reaching workable divorce agreements, either through courtroom litigation or alternative methods such as mediation and collaborative law.
Business Valuation Lawyer Serving Arlington Heights
Among the most challenging concerns in any divorce is the division of marital assets, as the process requires an accurate accounting of the entire marital estate. Assigning value to certain assets, such as furniture, vehicles or cash savings, may be relatively simple. For others, including the marital home, investment properties, retirement accounts and business interests, valuation can be much more complicated and may require the assistance of outside professionals.
Business ownership, in particular, can present unique difficulties in a divorce situation, due to the inherent economic complexities. Attorney Nicholas W. Richardson is well-versed in complicated financial matters and is prepared to help you navigate any business valuation concerns you may have. He will work closely with industry and financial experts to determine the true value of the business interests in question, using the most up-to-date and appropriate valuation methods based on the type of business.
Knowledgeable Divorce Representation in Illinois
When one or both parties to an Illinois divorce own all or portions of a business, how and when the acquisition took place is of high importance. The particular assets used to purchase the interest also make a difference, as such concerns can affect the status of the business as a marital or non-marital asset. If determined to be a marital asset, detailed investigation and analysis is required into the company’s tangible and intangible value, along with which portion of the value is eligible for division in the divorce. Business valuation must also take into account the contributions of a spouse without actual ownership to the increasing value of a company owned by the other party.
Due to the emotionally charged nature of many divorce situations, the process of business valuation can be extremely difficult. Attorney Richardson is ready to offer his skill and experience to help you reach a reasonable resolution. He not only understands the necessity of an accurate valuation but also how to facilitate a creative asset division agreement that protects the rights of both parties along the way. This could mean the allocation of other property to one spouse as compensation for his or her business interests, or the continuation of the business relationship, despite the divorce, under a new contractual agreement.
Get the Help You Need
If you are own interest in one or more businesses and a divorce seems imminent, contact the Palatine law office of Attorney Nicholas W. Richardson for your free initial consultation. You will have the opportunity to learn about your options under the law, ask questions and get the answers you need before making an informed decision. Call 847.873.6741 today. The Law Office of Nicholas W. Richardson, P.C., serves clients in Palatine, Arlington Heights, Barrington, Rolling Meadows, Schaumburg, Cook County and DuPage County.