What Happens to Your Business During a Divorce | Phoenix Divorce Laws
Arizona Divorce Can Impact Your Business
Like other assets, business interests can be treated as community property or separate property and sometimes, a combination of both. If your business was started during the marriage, then it is community property. If your business was started before the date of your marriage, it is your separate property.
However, the marital community may still have a claim to some of the profits and increase in value that occurred during the marriage, and these values must be apportioned between separate property and community property interests. Whether the business is community property or separate property, it will have to be valued.
Business Valuation Expert
To do so, it will be necessary to retain a business valuation expert. Whether valuing a community property business or apportioning an increase in value in a sole and separate business it is important that your attorney understand business valuations. Your attorney needs to understand the valuation approaches, methods and procedures and the law that applies to valuing and apportioning business interests. If you are facing a divorce and you or your spouse own a business, feel free to contact me for more information.