Business Valuation In Divorce Proceedings

A divorce can become controversial when you or your spouse own a business and have not retained an experienced family law attorney who will ensure your business valuation is conducted properly. The attorneys at The Law Office of Tiffany M. Hughes are industry experts in dealing with business valuations and the division of marital assets in divorce proceedings.

It is imperative that you partner with an experienced attorney who is dedicated to protecting your assets. The Law Office of Tiffany M. Hughes is one of the most reputable and highly regarded family law firms in Chicago, Illinois and specializes in high asset divorces. Our attorneys are well-versed and experienced in calculating business interests and will fight tirelessly to ensure your financial future after your divorce has been finalized.

Determining the Value of a Business

There are several different methods that can be used to determine the value of your business, including:

• Market approach: This method examines the sales of other similar businesses in the same geographical area to determine the amount which would be received if the business were to be sold.

• Income approach: This method bases a business’s value its projected future earnings, looking at areas such as cash flow, expected rates of return, historical financial data, and future economic benefits.

• Asset approach: This method reaches a value through a straightforward calculation that considers all tangible and intangible business assets, such as inventory, equipment, accounts receivable, and intellectual property, while subtracting any debts or liabilities.

Our attorneys are professionally trained to examine S-Corp tax returns, K-1’s, profit and loss statements, balance sheets, personal tax returns, capital gains and business records to identify the method and overall calculation that is the most advantageous to you. Additionally, our clients benefit from our well-established relationships with leading industry experts and forensic accountants. We will provide you with financial assistance in determining the value of your business and advise you on how to best limit your tax liability and any tax implications from your divorce proceeding.

Contact Us Today

Business interests are often the largest asset in a marital estate during a divorce. If you or your spouse have a business and need to ensure the value of that business is calculated correctly, contact The Law Office of Tiffany M. Hughes today to ensure you receive the what you are legally entitled to. Our firm is dedicated to helping spouses through their divorce in Cook, DuPage, Kane, Lake, McHenry, Will and other surrounding counties. Do not leave the outcome of your financial resources to chance. Call us at (773) 893-0228 for a complementary phone consultation today.