Dividing a family business in divorce cases can be a very difficult and complex part of a divorce case. In Arizona, divorce law requires the judge to divide the marital, or “community,” business equally if there is no agreement between the spouses calling for a different way to divide it. Spouses do not always want to sell the business, and one may want to buy the other’s share of the business and keep it as their own when the divorce is over. Sometimes the parties in a divorce case decide to hire an appraiser to value the business, which can be helpful, but also may create its own set of problems, and the spouses argue over whether the business appraiser is valuing the business correctly. Sometimes the court may give the business to one spouse but award spousal maintenance to the other, especially in situations where it is difficult or impossible to divide the business fairly.
If you have a similar situation on your hands, give our office a call today at 480-413-9300.