Water your peace lily thoroughly two days before you plan to divide it and trim foliage back to 6 inches above the soil line to minimize stress due to water loss.
Lift the plant gently from its container and use your fingers to loosen the soil from the rhizomes so you can see where to cut.
Cut apart the rhizomes with a sharp, clean knife. Your peace lily has a large central root system that grows downward with separate rhizomes growing horizontally from that root. Cut each rhizome from the central root at the point where they join.
Discard any rhizomes that have soft spots, discolored spots or insect damage. Discard any older, larger rhizomes as well. Young, healthy rhizomes will adapt more readily to being divided.
Repot your rhizomes in fresh, well-drained potting soil, leaving the top one-third of the rhizome above the soil line and water thoroughly.