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Wheaton business lawyerA divorce is an emotional undertaking, but it can become even more complicated if it involves business ownership. One spouse could be the owner of a company, or both spouses could own a business together. The matter of business valuation comes into play when deciding how the marital assets will be divided.

A business valuation is a set of processes and procedures for determining the economic value of a person’s interest in a business. This type of valuation is helpful since divorcing couples may not agree on a company’s worth or how it should be divided. It is important to note if the business began prior to the marriage and its profits have been kept separate and from the marital assets, then the business is normally not considered marital property.

Why a Business Valuation Is Important

One of the most time-consuming and stressful parts of a divorce is the division of marital assets since it requires an accurate inventory of everything that is within the marital estate or property. Determining the value of specific assets, such as household items like furniture, cars, or savings accounts, may be easy if a couple kept receipts or bank statements. On the other hand, estimating the value of the marital home, investment properties, and businesses is typically much more complex and may require the help of professionals.

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