Valuing Professional And Family Businesses

A divorce case where a family business or other professional practice is part of the property distribution can quickly become a complicated matter, requiring financial experts and appraisers. It is critical that you understand how the income generated by the business or practice has the potential to be valued incorrectly.

Chicago Divorce And Family Business Valuation Lawyers

At the Law Offices of George M. Sanders, P.C., our founding attorney has experience with complex financial and transactional matters as a big firm attorney and can apply that knowledge to cases involving business valuation issues.

Experience Matters

The Law Offices of George M. Sanders, P.C., opened in 2005. Prior to that, the majority of our founding attorney's more than 20-year legal career was spent at large and successful commercial litigation law firms in New York and Chicago, which included the Dewey, Ballantine law firm in New York City and Holland & Knight in Chicago. Before working for those firms, he graduated summa cum laude from St. John's University with majors in economics and finance, and attended the University of Chicago Law School.

Understanding Complex Business Valuation Issues

If you or your spouse has an ownership interest in a business that involved the production of goods and services, valuation can be determined by an analysis of the company's balance sheet. When a family business is involved it is important that a careful review of the income received from the business and the value attributed in the property distribution calculations is done correctly.

When the business consists of a professional practice, such as a law firm or private accounting firm, much of the value of that business depends on what is known as "good will." This means that people pay for the services because of the reputation, knowledge, or skill of a particular professional. In the event that the professional was not to be part of the business, the value of the business is likely to be much less. When there are partnership interests to be included into the analysis, the proper valuation can be even more difficult to determine.

Contact Experienced Cook County Divorce Lawyers

If you are concerned that your business may suffer because of your divorce or that you may not receive a fair share of a family business, contact our Chicagoland divorce law firm or call our office at 312-462-0324 to set up an initial consultation. We can work to protect your assets and help you understand your rights with respect to a complex business valuation matter.

We are available to help clients throughout Chicago, including Cook County and the surrounding areas.