Divorce For Business Owners: What You Need to Know | Full Episode | Illinois Divorce Guide Podcast

Owning a business can make divorce far more complex. In this episode of the Illinois Divorce Guide, Greer Howard and top Illinois divorce attorney Bobby Buchanan break down how Illinois courts view business ownership, how to value a company, and smart ways to protect your livelihood while keeping the process as smooth as possible.

Timestamps
[01:00] – When a business becomes marital vs. non-marital property
[04:00] – Real-life example: Bobby’s own law firm timeline
[06:00] – How to value a business: market, income, and asset approaches
[09:00] – Forensic accounting & discovery in business divorces
[12:00] – Keeping the process amicable to avoid endless paperwork
[13:00] – Family businesses and ownership documentation
[15:00] – Prenups and protecting generational wealth
[20:00] – How prenups can change the conversation about marriage
[22:00] – Owner-dependent businesses (solo entrepreneurs, service providers)
[24:00] – Options for buyouts, offsets, or shared ownership
[27:00] – Final advice: why collaboration matters when a business is at stake

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📩 Got questions or topics you’d like covered? Drop them in the comments below!

🔗 For more resources and legal guidance:
📺 YouTube: @IllinoisDivorceTV
🌐 Website: https://www.rbbfirm.com
📞 Consult Bobby’s Firm: 312-757-4833
📧 Email: info@rbbfirm.com

📌 Disclaimer: This podcast is for informational purposes only and does not constitute legal advice. Please consult a professional for legal guidance tailored to your situation.
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