Can My Spouse Take Part of My Medical Practice in an Illinois Divorce?

 Posted on August 12, 2025 in Divorce

Divorce is a difficult and emotional process, especially when it involves significant assets such as a medical practice. If you are a doctor facing divorce in Illinois, you will likely grapple with the question of what will happen to your practice. An experienced Oakbrook Terrace, IL divorce attorney can help you navigate the complexities of this issue and the possible solutions.

Is a Medical Practice Considered Marital Property in Illinois?

In Illinois, the division of property during divorce follows the principle of equitable distribution. This means that marital property, which includes assets acquired during the marriage, is divided in a way that is fair but not necessarily equal. According to 750 ILCS 5/503, any property that was acquired during the marriage, including a medical practice, is typically considered marital property, unless it is a gift or inheritance.

If the medical practice was started or built during the marriage, it will likely be treated as marital property. However, if the practice was established before the marriage, or if it has appreciated due to factors that occurred after the marriage, determining its marital nature can become more complex. Courts will often analyze the circumstances to determine how much of the practice’s value is attributed to the marriage and how much is separate.

How Is the Value of a Medical Practice Determined for Divorce Proceedings in Illinois?

The value of a medical practice will typically be determined through professional appraisals.  Several factors are considered, such as the income the practice generates, its assets, liabilities, and the reputation of the practice in the medical community. Illinois law allows for a variety of methods to be used to assess value. Under the Illinois Business Corporation Act, the method of valuation may be influenced by the nature of the business and its financial structures.

One common method is the income-based approach, which evaluates the practice’s future earning potential. In some cases, goodwill may also be a significant factor in valuation. Goodwill refers to the intangible value a practice has, such as its reputation, client base, and patient relationships. This can be challenging to quantify, but it may play an important role in how the practice’s value is determined during divorce proceedings.

What Typically Happens to a Medical Practice During an Illinois Divorce?

The division of a medical practice in an Illinois divorce depends on the specific circumstances of the case. Some possible outcomes include:

• One spouse retains ownership: The primary owner may keep the practice but compensate the other spouse with different assets.

• The practice is sold: If neither spouse wants to continue, it may be sold and the proceeds divided.

• One spouse buys out the other: One spouse may buy the other’s share.

• Spousal support: The court may award spousal support based on the practice’s value.

If the medical practice is the primary source of income for the doctor, the court may also consider how the divorce settlement will impact both spouses’ financial well-being. This could result in one spouse being awarded a larger portion of the marital property, based on the practice’s value.

Contact a DuPage County, IL Divorce Attorney Today

Dividing a medical practice in a divorce can be complex. A property division attorney at Farooqi & Husain Law Office can guide you through the process, fighting for the best possible outcome.

For those navigating the intersection of Islamic personal law and U.S. law, Attorneys Ausaf Farooqi and Naveed Husain offer extensive experience in Islamic family law and estate planning. They provide valuable insight to the Chicago Muslim community, helping clients achieve their legal goals both in and outside of court. Call 630-909-9114 to speak with our knowledgeable Oakbrook Terrace, IL divorce lawyers today.