In an Illinois divorce, marital property vs. non-marital property must be distinguished from each other. Only marital property is subject to division. It is divided according to an “equitable division” model.
When a business is involved, matters can become complicated. The question of what to do with the business in terms of equitable division of marital property must be resolved. Before the courts can weigh their decision regarding divorce proceedings involving a business, the value of the business must be assessed. This can be accomplished most effectively through consultation with a divorce attorney who concentrates in matters concerning business valuation.