Illinois is an "equitable division" state. In divorce, equitable division means that marital property must be divided equitably or fairly, regardless of the circumstances. Some assets are easy to split, such as vehicles and shared savings accounts. Read the full article here: https://www.oflaherty-law.com/learn-about-law/dividing-a-business-in-an-illinois-divorce

Negotiating who gets to keep the family home can be more difficult. Perhaps the most complicated process of a divorce is dividing a business and all its assets. It's not enough that one person spent most of their time working to build the company; if the business was started after marriage, it becomes marital property.

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This article will discuss valuing and dividing a business in an Illinois divorce. We will answer the following questions:‍ How do I know if my business is marital property?, What valuation method is best for my business?, What options exist for dividing a business in divorce?, and How can I keep my business legally separate from my marriage?‍

**None of the content in this series is intended as paid legal advice.