Business Interests In A Divorce

When a spouse owns a business the business may be a marital asset. In a Chicago divorce, if either party has an interest in a business that business can be appraised and if it is a marital asset it may be equitably distributed between the spouses. The value of the business may include inventory, good will, accounts receivable, etc. In anticipation of divorce, some business owners may stockpile inventory, hoard revenue and overspend on their business in an attempt to avoid sharing the financial value with their spouse. The specific circumstances and history of each Chicago divorce case will influence whether the retained earnings, inventory and expenditures are legitimate business practices or not.

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If you are looking for legal advice and representation with an Illinois divorce, schedule a consultation with experienced Chicago divorce attorney, Tanya Witt, at (312) 500-5400 or info@thewittlawfirm.com.

Representing men and women in Chicago divorce and child custody cases.

This blog does not constitute legal advice. Please consult with an attorney regarding your specific case.