Is experience what helps you determine which is the best way to value a person’s business?

It is. Principally, that’s going to come from the business valuation expert. They will open up the toolkit and they have a number of different approaches that can be used. They’ll consider all of those approaches depending on the type of business and ultimately select the one that that gives them the most comfort level as to helping us understand exactly what the value of that business is. Generally, we’re going to see all of the different approaches that are available applied and ultimately the best one will be selected by the valuation expert.

Chuck Roberts is family lawyer at Momkus McCluskey Roberts, LLC, one of the largest law firms in DuPage County, Illinois.