If your parents own the company together as marital property, expect the business value to be factored into their overall family assets.
As part of the potential dissolution your parents could divide their assets in such a way that the business was distributed to your father, but an equal amount of property (cash, home, cars, etc.) were given to your mother. If there is a remaining amount of money after this split is made, then those assets would be divided.
Keep in mind, in addition to assets, your parents likely have debts as well - these debts need to be allocated or divided or paid. How they get split makes a big difference based on who took them out, what they were for, etc. (if the business has debts, they may "go" with the business as a way of lowering the value of that specific asset).
If your father were to try to dispose of the business prior to his divorce he would likely find that his division of assets in the divorce would go very badly (he would be concealing property in bad faith, and the court would likely award your mother a much larger share of property and potentially increase spousal support or other assets as the valuation would tilt to her favor - not necessarily because the actual value has changed, but because he has lost his credibility by trying to conceal assets).
Furthermore, it is possible that by accepting these assets you may even find yourself subject to litigation under the Uniform Fraudulent Transfer Act (although this is more common to civil debt collection claims) - where a creditor can directly pursue you for the debt.
If your father really wants to do some reasonable advanced planning for an impending divorce, he is going to want to speak to a family law attorney (and a business attorney). Do not try to do this on your own now and then ask a lawyer to try to clean it up later - that is a much more expensive way to go about it.