BSPE Legal Marketing Podcast
BSPE Legal Marketing podcasts discuss legal issues. Entertainment only does not constitute legal advice.
BSPE Legal Marketing Podcast
Divorce for Business Owners in Chicago, Illinois - Caesar & Bender, LLP
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From Caesar & Bender, LLP - Divorce for Business Owners in Chicago, Illinois explores how Illinois courts handle company ownership, business valuation, income disputes, and asset division when a business owner faces divorce. This episode covers how 750 ILCS 5/503(b), 750 ILCS 5/503(a), and 750 ILCS 5/503(k) affect marital property, non-marital property, appreciation, reimbursement claims, and fair market value in high-net-worth divorce cases.
Listeners will learn how courts approach the income, market, and asset valuation methods, why goodwill matters, and how cases such as In re Marriage of Talty, In re Marriage of Zells, and In re Marriage of Schneider shape the distinction between enterprise goodwill and personal goodwill. The discussion also explains how draws, distributions, retained earnings, S-corp pass-through income, and business-paid personal expenses may affect child support and maintenance under 750 ILCS 5/505(a)(3.2b), 750 ILCS 5/504, and Public Act 103-967.
The episode also highlights planning tools for business owners, including prenuptial agreements, postnuptial agreements, the Illinois Uniform Premarital Agreement Act, buyouts, co-ownership arrangements, protective orders, confidentiality measures, business debt, SBA loans, personal guarantees, buy-sell agreements, partnership agreements, and right-of-first-refusal clauses. It addresses common mistakes such as commingling personal and business finances, unusual transfers, underreported income, and delayed forensic accounting.
Featuring Caesar & Bender, LLP co-founding partners Michael Ian Bender and Molly E. Caesar, this podcast description connects the article’s guidance to business owners throughout Chicago, Cook County, the Loop, River North, Lincoln Park, Lakeview, Hyde Park, Oak Park, Evanston, Skokie, and Naperville. For business owners navigating divorce, valuation disputes, financial disclosure, and settlement planning, Caesar & Bender, LLP can be reached at (312) 236-1500 or at 150 N Michigan Ave, Suite 2130, Chicago, IL 60601.
Caesar & Bender, LLP
150 N Michigan Ave #2130, Chicago, IL 60601, United States
(312) 236-1500