What happens when spouses in Arizona own a business together?
During the divorce process here in Arizona, the court will usually attempt to keep the things the way they presently are when it comes to the day-to-day operations of a family business. A business valuation expert can assess the value of the business during the divorce matter. Arizona courts, with the input from the business valuation expert, will determine the value of the family business. The spouse that is ultimately awarded the business may be required to pay the other spouse that individual’s share of the business. That amount is normally one-half of the value assigned to the family owned business. You should consult an attorney for this matter.
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