Oak Park, IL divorce attorneyThere are numerous financial topics that will need to be addressed during the divorce process. If either spouse is a business owner, or if both spouses founded or acquired a family business together, business assets may be some of the most significant financial matters to address. 

Determining the value of a business is crucial to ensure that all marital property can be divided fairly and equitably. An experienced divorce attorney can provide valuable assistance during the business valuation process, while at the same time advocating for solutions that will protect their client’s financial interests.

The Importance of Business Valuation

In Illinois, marital property must be divided equitably between divorcing spouses. To ensure a fair and equitable division, all assets acquired during the marriage, including businesses, must be properly valued. Valuing a business accurately is essential for several reasons: