How a Bloomington Business Is Divided During Divorce
There are multiple complex issues involved in any divorce, and owning a business can worsen this complexity. Spouses may co-own a business, one spouse may have owned a business prior to marriage, or a spouse may have started a business during their marriage. Each of these situations comes with its own unique challenges during a divorce, and there are other unique circumstances that spouses may face. A business needs to be valued during the division of property in divorce and categorized as separate or marital property. Classifying a Business as Separate or Marital Property Illinois is an equitable distribution state,