How Does Divorce Affect a Professional Practice in Illinois?

 Posted on May 07, 2026 in Asset Division

If you are a doctor, dentist, attorney, or accountant getting a divorce in 2026, your practice is likely one of your most valuable assets. Unlike a bank account or a piece of real estate, a professional practice is hard to value and even harder to divide. Questions about practice ownership, goodwill, and partnership agreements can make an already difficult divorce far more complicated. A St. Charles, IL divorce attorney can help you protect what you have built.

Is a Professional Practice Marital Property in an Illinois Divorce?

Whether a professional practice is marital property depends on when the practice was started and how it has been run. Under the Illinois Marriage and Dissolution of Marriage Act, 750 ILCS 5/503, property acquired during the marriage is generally marital property. Business interests are treated the same way.

If you started your practice after you got married, it will usually be treated as marital property, but the court will still look at how it was funded and managed. If you started it before, things get more complex. A practice that existed before the marriage can still be partly marital if it grew during the marriage due to either spouse's work or investment.

If you are the non-owner spouse, the same rules apply in your favor. If marital funds paid for equipment, office space, or staff during the marriage, you may have a claim to a share of what that investment built.

What Is Professional Goodwill, and Why Does It Matter in an Illinois Divorce?

Goodwill is the value of a business beyond its physical assets. It covers topics such as reputation, client relationships, and future income. In a professional practice, goodwill is tied to the person who runs it.

Illinois courts look at two types:

• Enterprise goodwill belongs to the business itself. It includes the staff, systems, and client base that a new owner could take over.

• Personal goodwill belongs to the individual. Think of a doctor's long-term patient relationships or a lawyer's referral network.

Courts in Illinois usually treat personal goodwill as separate from the business and not divisible. Enterprise goodwill is much more likely to be divided. The difference can be worth hundreds of thousands of dollars. A busy family doctor may earn a high income, but if patients come back because of that specific doctor, the court should not count the full practice value as something to split.

How Is a Professional Practice Valued in an Illinois Divorce?

There are several ways to determine a professional practice’s value. One of the most common approaches to valuing a professional practice looks at what the practice earns now and what it is likely to earn in the future. The problem is that income tied to one person's skill set can blur the line between enterprise goodwill and personal goodwill, making it difficult to know exactly how much of the practice should be divided. 

Usually, both spouses hire their own business valuation experts, and their numbers often differ by a wide margin. Reviewing the other side's work is just as important as having a strong report of your own when a practice’s value is disputed.

Partnership interests add another layer of difficulty. If you hold a share in a group practice or multi-partner firm, the partnership agreement itself may limit how that interest can be transferred or valued. Illinois courts usually consider those limits when dividing a partner's share, which can affect what each spouse walks away with.

Can You Keep Running Your Practice After an Illinois Divorce?

Most professionals want to keep their practice open. Illinois courts know that splitting ownership of a medical or dental practice between two divorcing spouses is a tricky business. Rather than forcing a transfer, the court will try to put a value on the marital share and balance it out with other assets, such as retirement accounts, real estate, or savings. When this isn’t possible, one spouse may agree to buy out the other’s share over a number of years. 

If you started your practice before the marriage, had a clear prenuptial agreement, and kept your business and personal finances separate, you are likely in a better position. Our attorneys have experience managing these cases and can help you think through your options for a financial settlement in divorce that protects your practice as much as possible. 

Contact a St. Charles, IL Divorce Attorney for Practicing Professionals

When a professional practice is part of your divorce, you need high-asset divorce attorneys who know both the legal and financial sides of dividing these practices. At Weiler & Associates, P.C., lead attorney Tim Weiler is a Certified Financial Litigator and has direct experience handling complex financial matters in divorce cases. Call the Kane County, IL property division lawyers at Weiler & Associates, P.C. at 630-331-9110 to set up your consultation.