White Paper

4 Pages
  • 4 Pages

Division of Business Goodwill in Dissolution of Marriage Cases


Determining goodwill prevents double dipping.

Goodwill represents the value of a business or practice above the value of the physical assets. Illinois courts have broken down goodwill into two categories: enterprise goodwill and personal goodwill. Enterprise goodwill exists independently of one’s personal efforts and will outlast one’s involvement in a business. Personal goodwill is attributed to a person’s personal efforts which ceases when that person is no longer involved in the business. The purpose of distinguishing between enterprise and personal goodwill is said to avoid the issue of “double dipping” or utilizing the same income stream to determine support and asset value. This white paper reviews case law that deals with business goodwill in divorce cases.



Jeffrey W. Brend

Jeffrey W. Brend

Levin & Brend, P.C.

  • Partner in the office of Levin & Brend, P.C.
  • Practice emphasizes all aspects of business valuation, forensic accounting, and mediation
  • Certified Public Accountant who is qualified as a financial expert to value businesses, determine net income, and complete financial investigations
  • Conducts regular seminars and workshops and has spoken nationally to the Association of Fraud Examiners, the Federal Bureau of Investigation, AAML, and the American Society of Appraisers
  • Author of several publications about business valuation, forensic accounting, and child custody issues, along with the textbook Accounting for Divorce
  • Featured in Fortune Magazine, Newsweek, and on the Sky Radio Network as one of America’s Premier Lawyers; only person in the country who is a fellow of the American Academy of Matrimonial Lawyers; Senior Appraiser with the American Society of Appraisers; Accredited Business Valuator with AICPA and a Certified Fraud Examiner; named a LexisNexis Martindale-Hubbell AV-rated attorney and an Illinois Super Lawyer as well as a Top-10 collaborative attorney in Illinois
  • Fellow of the Collaborative Law Institute of Illinois and a member of the International Academy of Collaborative Professionals and is exceptionally qualified to encourage the collaborative process from a multidisciplinary perspective
  • J.D. degree, John Marshall Law School
  • Can be contacted at [email protected] or 312-726-4440

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