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Wheaton asset division attorneyIf you own a business or professional practice, chances are that is one of your most valuable assets. It takes endless work and a lot of dedication to grow a business and have it become successful. The last thing you want is to have half of it taken away when you get a divorce. Everything you and your spouse have together must be divided before you can finalize your divorce -- and that can include businesses and professional practices. Do not worry -- there are things you can do to make sure your business remains in your possession. Here are five ways you can protect your business during your divorce:

1. Get a Fair Valuation

The first step you should take before you begin dividing up your assets is to get a valuation of your business, so you know what it is worth. Instead of estimating what your business is worth, you may opt to use a court-appointed evaluator who will look at multiple facets of your business to arrive at a valuation. Such aspects include your business records, the business’ goodwill, and business competition. Then, you can hire an outside professional to review the numbers just to make sure everything is square.

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