How is a Business Divided in an Arizona Divorce?
The Arizona Court of Appeals in the case of McCune v. McCune addressed, among other issues, whether a judge should grant a spouse a judgment for his or her community property interest in the other spouse’s business or, instead, should the court simply divide the stocks between the parties.
Although there could be situations that justify a different result, most judges favor as clean a division of property as possible to eliminate any business, personal, or legal ties that may result in future conflict. As a result, most judges favor awarding all of the stock of a business to one spouse and compensating the other spouse for his or her interest in that business through division of the parties’ remaining property and/or entry of a judgment.
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Call us at (480) 305-8300 to schedule a consultation with one of our Scottsdale Arizona Community Property Attorneys regarding Arizona community property laws or any other Arizona family law matter.