Businessman beware!-Retained earnings, income or asset?

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In a divorce case, the retained earnings of a closely held business can be a well of misery, or new found wealth depending upon whether you are the business owner or the spouse of the owner. Recent Illinois cases have addressed the issue. Here's some information you need to share with your lawyer and accountant.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Rory Weiler | Attorney Advertising

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