Can an adjustment be made to the value of a business after a divorce has been finalized?
It depends on how the deal was negotiated. We frequently will include provisions in the payout…
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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…
Are the business assets divided during the divorce, or is it normally one spouse gets the business and the other spouse gets…
It’s much more common for one side to take the business interest and the other side to receive an…
What effect can a divorce have on a family business?
Generally speaking, divorce does not result in liquidating the family business. Generally speaking,…
Is there just one method of figuring out the value of a business?
It depends on the nature of the business enterprise itself as to what ultimately is going to be the…
Can a spouse have their company accountant perform a valuation?
Someone will say, “You know, we could just use the company accountant and they should be able to…
What happens in a case where a spouse gets income that isn’t reported?
That’s a little bit difficult. That sometimes needs to be offset rather than specifically dealt…
What happens if somebody suspects that their spouse is hiding information regarding the family business or hiding assets?
One spouse will say, “You know, I think that the other spouse has been taking money out of the…
Are stock options considered an asset to be divided during the divorce?
Yes. The current state of the law in Illinois is that those types of options are considered and are…
Does spousal support typically end with the payor’s death?
In Illinois now, we have a provision where typically these spousal support payments do terminate…
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