If both spouses co-own a business together, how will it be divided on divorce?

By Sean Sullivan
August 28, 2016

It would depend on how they choose to divide it. You'd have to value it and see what it is. It would depend on the other factors of the situation. The judge would have to apply what are the other assets that the parties own? Do they both have the same income potential? Do they both want to stay in the business? This one will be very much a fact specific case and you'd have to approach this on a case by case basis.

Sean Sullivan is a family lawyer practicing in the Elmhurst, Illinois area at the law offices of Laura M Urbik Kern, specializing in child custody and dissolution in divorce. Visit his website, www.laurakern.com, and Divorce Magazine profile.

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August 28, 2016

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