Business Disputes in Divorce

Dividing a Family Business in Divorce

With the increasingly complex nature of today's economy, more and more families are operating a family business. When a husband and wife get a divorce, our Chicago business dispute lawyers know that a difficult question is how to value and divide a business.

Frequently, one of the spouses invested more time into the family business. In fact, the family business may be in the name of one particular spouse and that spouse may be the driving force behind the business. However, the fact that the business is named after one spouse or titled in the name of one particular spouse is not determinative of the issue.

A judge presiding over a business dispute in divorce will ask pertinent questions to determine an equitable result. Some of the questions a judge might ask include:

  • Did either spouse own the business prior to the marriage?
  • Did the parties use marital assets to invest in the business?
  • Did the business increase in value during the marriage?
  • What contributions did each party make to a family business?
  • What is the reasonable value of the business?
  • Will the business continue to operate, or should it be sold?
  • Is the value of the business based solely on the name of one spouse?

After asking these and other questions, the presiding judge will make a decision he or she feels is fair and just. Divorce laws vary from state to state. After consideration of state law and case law from their state, the judge will determine the value of the business and issue an order that compensates the parties for their just share.

Protect Your Rights During a Business Dispute in Divorce by Speaking with an Attorney

If you are getting a divorce and you own a family business, it is important to protect your rights by speaking with a lawyer. A lawyer can assist with finding an expert who can perform a small-business valuation that will determine the reasonable value of your family business. An attorney can also perform an evaluation of the facts to determine your marital interest in a family business.

Our attorneys have tremendous experience in the courtroom. We have been trusted by clients in high-stakes cases to deliver quality service and results. Attorney Peter Lubin, member of our firm, teaches trial and litigation skills to University of Chicago Law Students and has been featured in local and national publications like the Chicago Tribune and Fox News for their involvement in key cases.

Perhaps most important is our attorneys drive and focus. We are resolute advocates for the people we represent in business disputes in divorce. We believe strongly that each client has a right to the highest standards of legal excellence. To give clients an advantage in litigation involving complex financial matters, we routinely enlist the service of leading experts who can advise and provide necessary reports or testimony. Some of the experts commonly used by our firm to handle complex financial matters include forensic accountants, property appraisers and business valuators.

Our attorneys are pleased to assist clients throughout the state of Illinois, including the Chicago metro area and DuPage County. We also assist clients in Indiana and Wisconsin. To contact an attorney at one of our law offices in Elmhurst or Chicago, Illinois, call 630-333-0333. You may also contact us by e-mail.

Client Reviews
"I was referred to Peter Lubin from someone in the car business to handle a law suit. From the moment I made the appointment Peter and his staff were outstanding. This wasn't an easy case, most lawyers had turned me down. However, Peter took the time to meet with me and review everything. He took on the case, and constantly communicated with me about updates and case information. We beat this non-compete agreement case in record time. I would use him again and recommend him to my closest family and friends. 5 stars is not enough to thank him for his service." Sebastian R.
"I worked on two occasions with Peter Lubin and his staff. They took their time with me and discussed each and every item in detail. The group makes you feel like you are part of the family and not just another hourly charge. I recommend Peter to anyone who asks me for a referral. If you are looking for a top notch attorney at a reasonable rate, look no further than Lubin Austermuehle." Kurt A.
"Excellent law firm. My case was a complicated arbitration dispute from another state. Was handled with utmost professionalism and decency. Mr. Peter Lubin was able to successfully resolve the case on my behalf and got me a very favorable settlement. Would recommend to anyone looking for a serious law firm. Great staff and great lawyers!" Albey L.
"I have known Peter Lubin for over 30 years. He has represented me on occasion with sound legal advice. He is a shrewd and tough negotiator leading to positive outcomes and averting prolonged legal hassles in court. He comes from a family with a legal pedigree and deep roots in Chicago's top legal community. You want him on your case. You need him on your opponents case. He won't stop fighting until he wins." Christopher G.
"Peter and his team helped us with an auto fraud case. They communicated well (timely and very responsive), investigated deeply, and negotiated a very good settlement. We were able to resolve our significant issue without a large burden and in a manner that allowed for us to come out ahead. I'd recommend Peter and his team strongly!" R.J. Callahan
"Peter was really nice and helpful when I came to him with an initial question about a non-compete. Would definitely reach out again, recommended to everyone." Johannes B.