How to Treat a Closely Held Business in Divorce

The term “closely held business” refers to a small business or one that is owned by one person or a small number of people. In a divorce, the division of a closely held business can be a point of contention, especially when both spouses were involved in the business matters.

At The Law Offices of Van A. Schwab, we counsel clients on small business property division in divorce. To discuss your case, we offer a consultation fee of $125 to be applied toward the retainer. We accept payment by cash, check, or money order; please contact us.

Explaining Your Rights and Options

At The Law Offices of Van A. Schwab, business division attorney Van A. Schwab has the experience and knowledge that is essential in professionally handling any business divorce issues you may have. Clients often do not understand their rights to portions of the closely held business when one or both spouses have interests in the business. Van A. Schwab is a strong advocate for clients seeking favorable outcomes regarding marital property and business division.

Business Valuation

When attempting to determine the value of a business subject to division in a divorce, attorney Schwab and our entire legal staff utilize the expertise and knowledge of business valuation experts and appraisers. Determining the accurate monetary value of a business is important in a divorce. By ensuring that the proper value is placed on the business, we can take the necessary steps to see that you receive your fair share of the business or are compensated for the portion of the business to which you are entitled.

Dividing Other Property

Attorney Schwab is a zealous advocate for his clients, going to great lengths to ensure that their best interests are being served. In addition to handling divorce and business division issues, he can also represent clients in issues regarding:

  • Property division (such as real estate, bank accounts, stocks and bonds, and other assets)

  • Division of retirement assets (such as a pension, 401(k), SEP, and KEOGH retirement accounts)

  • Any matters involving children of the marriage

We Are Ready to Review Your Situation

Do you have questions about the division of a family business? Are you wondering about the tax implications of the small business division? Contact family law attorney Van A. Schwab by calling, or use our online contact form.

We offer flexible hours and a consultation fee of $125 to be applied toward the retainer. We accept payment by cash, check, or money order. For Lake County clients, our Skokie office is convenient to highway I-94 at the Dempster Street exit.