Protecting a Business / Professional Practice
Same Day & After Hours Appointments Available | In-Person or Zoom Meetings | Over 20 Years Experience
Our Flat Fee Divorce Rates
$1,500
Uncontested Divorce No Children
Starting At$1,800
Uncontested Divorce With Children
Divorce Attorney for Business Protection
Protecting Small Businesses, Doctors, Lawyers, and Other Professional Practitioners
Building a business or professional practice takes an enormous amount of time and effort. When you have put in the hard work to build a company, you will certainly want to make sure that the fruits of your labor are protected. In family law, this may mean learning how to keep your business as separate property or working to maintain control over it during a contentious divorce.
Whatever the reason for concern over protecting your business, Reifman Law Offices is here to help. Attorney Arkady Reifman has been practicing all forms of family law for nearly 20 years and has the experience necessary to resolve any family-related challenge. If you have a business you wish to protect during a divorce, Reifman Law Offices is here to help. Likewise, if you are a doctor, dentist, chiropractor, attorney, architect, or any other professional practitioner, we can assist you in protecting your practice.
Is a Business or Professional Practice Marital Property?
In many cases, a closely-held business or professional practice is considered to be part of a divorcing couple’s marital estate. Under Illinois state law, if one spouse started a business or practice and continued to work in the business during the marriage, the business will generally be recognized as marital property. All marital property in Illinois is subject to equitable distribution, meaning your spouse could end up being given a part of the business after a divorce.
This is true even if your spouse was never actively involved in running the business. The court will presume that the uninvolved spouse still made valuable non-economic contributions to the marriage that allowed the other spouse to focus on building a business.
However, if the business was already your property before the marriage, it may be considered your separate property. There are also ways to maintain a business as your own separate, nonmarital property. Reifman Law Offices can help you determine whether your business is marital property and begin protecting it.
How Can I Protect My Business or Professional Practice?
There are two main ways that you can ensure that your business remains strictly yours. The first is by signing a prenuptial or postnuptial agreement that explicitly states that your business is your separate property and will not be subject to equitable distribution in the event of a divorce. If you have a business or professional practice prior to getting married, a prenuptial agreement may be your safest option. A postnuptial agreement applying to a business started during a marriage is possible but may bring complications.
Always work with a qualified family law attorney before entering into a prenuptial or postnuptial agreement to ensure enforceability, as these agreements can be later disputed. Reifman Law Offices can help you and your spouse or future spouse reach an agreement that works for both of you while protecting your practice.
In the absence of a prenuptial or postnuptial agreement, the other option is to negotiate a property division settlement that allows you to keep your business. Such a settlement may give your soon-to-be ex-spouse a larger share of your remaining marital property, or it could allow you to buy out your spouse’s share of the business using non-marital funds. We are fully equipped to help you find a solution that allows your business to continue in the wake of your marriage ending.
Finally, if your spouse is your business partner, it may be best to include language in the documents you use to set up your business addressing what will happen if the two of you divorce. Reifman Law Offices is experienced in helping spouses reach mutually beneficial agreements and may be able to aid you in reaching this type of resolution far in advance of any potential conflict.
Contact a Streamwood Family Law Attorney
If you would like to learn how we can help you protect the business or practice you are working hard to build, contact our law offices. Whether you have an established professional practice and are soon to be married, or you are married and just exploring the idea of starting a business, Reifman Law Offices is here to help. Call 847-229-8433 so we can offer you a free consultation. We serve clients in and around Schaumburg, Arlington Heights, Palatine, Rolling Meadows, Elk Grove Village, Streamwood, Hoffman Estates, Barrington, and West Dundee.
At Reifman Law Offices,
we will take the weight of dealing with family legal issues off of your shoulders.
Call Us 847-229-8433
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Cost is a significant factor when considering hiring a lawyer. At Reifman Law Offices, we understand that our clients are real people—people on a budget with limited time.
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What Our Clients say about us
Arkady Reifman is an excellent divorce attorney who delivers a high-quality service. He helped me with my case with personal attention to details, responsiveness to questions, and very good communication skills in court and in writing letters. He also speaks...
Great lawyer, to the point and gets things done.
Affordable and very helpful , gets back to you asap and updates you in timely manner , Thank you so much for your help ... If you're looking for a lawyer that has you in mind REIFMAN will not disappoint,...
Great attorney, Always available and responsive and will give the best advice!
Firstly, I want to thank Mr. Arkady Reifman for the amazing and professional services he provided me with. Whenever I had a question, he explained thoroughly and carefully and adjusted to my circumstances when I didn't understand he always did...
Arkady Reifman is an excellent attorney who really goes above and beyond for his client, I'd trust him with anything, do not hesitate to call him.
In a divorce, you need advocates. Advocates that are willing to listen, empathize with your situation and quickly ascertain what rights and entitlements one has. I was fortunate enough to be paired with Arkady Reifman. From our first meeting, I...
Very professional, straightforward and empathetic. I went through one of the most difficult times in my life and was glad to have Arkady by my side throughout the process. I was very impressed by the great level of attention that...
Arkady handled my divorce case several years ago and I would, and have, recommended him to my friends and family. I hired Arkady after another attorney has botched my case. Not only was Arkady professional and knowledgeable, he took the...
Arkady handled my divorce case. He has done a great job understanding my needs and was able to prepare a divorce contract that covered the detailed scenarios for what was needed. As a result, my divorce process was less painful...
Arkady took care of my divorce case. He has done an amazing job understanding my needs and was able to prepare a divorce contract that covered the detailed scenarios of what was needed. As a result, my divorce process was...
I was seeking a simple uncontested divorce and I came to the right place. The consultation was over an hour and was free. Arkady took the time to understand my situation and guided me through the process which others I...
I contacted Arkady for an uncontested divorce. I received a detailed extensive free consultation and was able to figure out the remainder of the details I needed to work out with my spouse in order to finalize the process. With...
I hired Arkady to help get some rights back that I should not have lost during my divorce. Ex-wife (who has full custody of our child) told daycare that my current wife could not pick up my daughter at daycare....
I am thrilled with my results. Arkady was exceptionally professional. He was able to find a resolution for my complex situation where I thought there was no solution. He is a strong professional with a thorough knowledge of the law...
Very Reasonable rates, easy process, and thorough explanation. Arkady was recommended to me for an uncontested divorce. I had recently met my future husband and needed to get an uncontested divorce as soon as possible. Arkady provided an excellent flat...
Reasonable Rates, dedicated service, and excellent results. I had a very difficult divorce, Arkady was able to put the correct protective orders in place, got a great Guardian ad Litem for my child and helped me gain full custody. Arkady...
Professional, compassionate and knowledgeable. I worked with Arkady on my uncontested divorce. We originally thought one set of documents was going to do it for us. However, my ex hired an attorney and I needed to protect my interests. After...
I had four divorce attorneys and one real advocate. My divorce lasted for several years and I went through multiple divorce attorneys in the process. Finding that most just want to drag their feet and get paid. Arkady proved otherwise,...
I interviewed multiple firms before I decided on Arkady Reifman. After interviewing Arkady I had a very comfortable feeling and I knew that I was going with the right professional for my situation. Arkady understood the challenges and concerns I...
Arkady is a great attorney. He listens very well, commits great focus to your case and works for the best possible outcome. It is very refreshing to meet such a hardworking and compassionate advocate. I am impressed at how knowledgeable...
Arkady Reifman was recommended to me by a relative and I'm happy I decided to go with him to represent me in my divorce case. His fees are reasonable, communication was clear and to the point, and he explained the...
We contacted Arkady to help get a divorce settlement for my guy. It had been almost a year and his original divorce attorney did nothing to help. We gave him our retainer and he worked diligently to help us. Only...
Arkady Reifman is a seasoned and professional attorney. I appreciate his help in providing counsel which was effective in the completion of my case.
Mr. Reifman has handled with great discretion and high competence several matters of importance for our family and we highly recommend him.
Arkady Reifman represented me in my divorce case. He was always very supportive through a painful time in my life. I feel secure and confident every time after conversation with him. He also was always very prompt to respond to...
Thank you Mr. Arkady Reifman for representing me in my divorce case. With your guidance and experience of the law. I would recommend you to family or friends or anybody who ask for a family lawyer.
Great attorney, professional, exceeded my expectations, very thankful!!!
Attorney Arkady Reifman was professional on working on my case. Answer all my questions with everything I had. Highly recommend this Attorney
If you are in need of any legal service, talk to this firm first. Our family has used Mr. Reifman's service to resolve a complex child support matter that involved a defendant that tried every legal maneuver to delay his...
Arkady is an excellent attorney. He took my complex divorce case and handled it with compassion and pure professionalism. The result was far better than I had expected. Arkady handled my case effectively and made the process as painless as...
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Attorney Advertising. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis. By providing certain contact information herein, you are expressly authorizing the recipient of this message to contact you via the methods of communication provided.
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